When it comes to your credit cards, dates are important. Although a valid payment date is the most important of all credit card dates, there are a few more dates.
Your payment repayment date
Perhaps the most important date to meet. The due date is the date when you have to pay at least the minimum credit card payment to avoid paying a delay or to pay your credit card in full and avoid a financing fee.
Fortunately, the credit card payment date for each credit card will be the same every month. This makes it easier to continue working. You will know that your ACME Rewards credit card payment is due on the 15th of each month. Print out your calendar and write down your credit card’s billing dates on it so you can keep up with them.
If you want to change the due date, for example; your current due date conflicts with your payment date or other higher due date, contact your credit card company. Most will allow you to change the due date at least once.
Closing date of your account
Due to the number of days in the billing cycle, the closing date of the statement for your account may vary from one month to the next. Account end date is the date the credit card statement is generated. All transactions between the last closing date and this date will be included in your next billing statement.
The statement closing date is also the date that many credit card issuers report credit card information to credit bureaus. Contact your credit card company to find out more securely so that your credit report is updated with lower credit usage.
Your credit card expiration date
The credit card expiration date is either painted on the front of your credit card or printed on the back of your credit card.
Keep in mind which credit cards expire soon, so you won’t have the hassle of getting caught in a credit card expiring store as your only payment method. Some credit card companies automatically send a backup credit card at the beginning of the month that your credit card will expire. If it’s near the end of the month and you haven’t received a new credit card, contact your credit card company. You may not be able to purchase an expired credit card.
Date you will pay your balance
If you only pay the minimum payment, it can take a long time to pay off your credit card balance. Check your recently posted billing; it will tell you how many years and months it will take to pay off your balance if you only pay the minimum amount. If you pay another amount, you can use a credit card calculator to find out when to make a credit card balance payment. Keep in mind that fees and purchases will increase your paycheck and affect your credit card payment time.
Don’t worry if you can’t remember each of these dates for all your credit cards. You can use your account checklist to continue with your payment payment date, check your billing statement for the closing date, look at your credit card on expiration date, and use your payment calculator or your billing statement to calculate your credit card payment date.