The statement date is the last day or closing day of your credit card’s billing cycle. You should receive your statement about 20 days before the due date so you have plenty of time to schedule your payment. You should make your payment by the due date at the very latest. Should I pay by the due date or statement date? The date you must pay your credit card issuerĪny remaining balance incurs interest charges The due date is the latest day the credit card company expects their payment. Any charges you make after that date will appear on your next credit card bill. The statement date is the closing date for that billing period. To stay out of credit card debt and in good standing with the issuer, it’s important to keep these dates separate. Your credit card’s due date and statement date are two of the most important figures on your bill. In addition to how much you owe, the statement lists two important dates: the statement closing date and the payment due date. You can see how much you owe your issuer on your credit card statement. However, you typically have to pay the credit card company interest for this service. Credit cards allow you to owe the lender money from month to month, carrying unpaid credit card balances forward. You don’t have to pay back all of your purchases at once. ![]() You can continue to draw from this line of credit until you reach the maximum, or credit limit.Įach month (approximately), your issuer tracks your spending throughout a billing cycle. In other words, your issuer gives you a certain amount of money you can spend that you must pay back over time. When you use a credit card, you’re drawing from an unsecured line of credit from your credit card issuer. Compare Credit Cards How does a credit card work?
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