How To Find Your Statement Closing Date Capital One

Justin Cupler

Contributing Writer at Tally

March 10, 2021

There are and then many dates and numbers to continue track of on your credit card. You've got due dates, argument closing dates, grace periods, interest rates, minimum payments, and and so much more, so it's understandable to get a little confused.

2 usually confused credit menu dates are your credit carte du jour payment due date and the argument endmost engagement. These dates are related, to some extent, but they are several weeks apart.

Below, nosotros'll outline your credit card payment due date vs. closing engagement, highlighting the differences and how each one impacts you and your personal finances.

Credit bill of fare payment due date vs. closing date

Credit card payment due date vs closing date: A woman smiles while using her credit card and her laptop

It'due south easy to confuse your credit card statement endmost appointment with your credit card payment due date, but they're actually separate dates. Understanding their differences will help you manage your credit menu debt and maintain a skillful credit score.

Credit card statement endmost engagement

Your credit card statement closing date is the day your credit menu billing bicycle ends. It'due south also the date the credit carte du jour company mails you your monthly statement. Any new purchases y'all make after this date will utilise to the following month'south statement.

This is also the date the credit card company calculates your interest charges based on your statement balance, though it won't utilise any involvement to your account just yet.

While your payment isn't due on the statement closing date, you lot can make your minimum monthly payment someday subsequently the closing appointment.

Credit card payment due date

Your credit card payment due date is at least 21 days after your credit card statement date. This is the terminal day to make at to the lowest degree your minimum payment before incurring a late fee and other penalties.

If y'all mail your payment to the credit card issuer, you'll desire to send it out at least a few days before the due date to ensure it arrives on fourth dimension.

The mean solar day post-obit your credit card payment due appointment starts a new billing cycle, and the credit carte du jour visitor volition and then utilise any interest information technology calculated on the statement closing date to your credit card business relationship.

Credit card

As we mentioned, in that location is at least a 21-twenty-four hour period menses between your statement closing date and payment due date. This period is the credit card grace period. In that location is no payment due during this fourth dimension, and the credit carte du jour visitor will apply no interest to your business relationship.

If y'all pay your credit carte du jour bill in full within the grace period, you will incur no interest. Using the grace menses like this means you tin reap all your credit card's benefits -- rewards, cash back, and other perks — without paying a penny on interest.

Credit menu

Two hands hold a smartphone and use a credit score app

Your payment history to creditors, including your credit cards, accounts for 35% of your FICO credit score, making it the factor with the near touch on. If you miss your credit menu payment due date, you may incur a late fee, just you won't immediately get a missed payment mark on your credit written report.

Your payment must be at least xxx days late before a credit carte company tin submit a cardholder'due south tardily payment to the credit bureaus.

Credit card statement endmost date and your credit score

Late payments aren't the only details a credit card company reports to the credit bureaus. Shortly after your closing date, a credit carte du jour company will report your credit card balance. This could bear on your credit utilization ratio, which is your total credit card balances relative to the credit limits on your credit cards.

For example, imagine you lot have ii credit cards with $2,000 credit limits, significant you have a total credit limit of $4,000. If one credit carte du jour has a $1,000 balance and the other has a $500 balance, you'd accept a total credit utilization ratio of 37.five% ($ane,500 divided by $4,000 equals 0.375).

Later on your payment history, your credit utilization ratio is the almost significant variable in computing your FICO credit score — information technology makes upwards 30% of it.

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Experts recommend keeping your credit utilization ratio under thirty%, so if you have a $ten,000 credit limit, you want to go on the residuum under $three,000. If yous use your credit menu to embrace your daily expenses, you can quickly exceed that 30% marker during your billing bike. And if yous carry that rest after the credit carte du jour statement closing appointment, information technology could hit your credit report and potentially hurt your score.

Still, if you pay off that balance earlier your statement endmost engagement, there's a good chance your credit bill of fare company won't report the loftier rest to the credit bureaus, preventing whatever score reductions.

Changing your credit card

That assuming due engagement on your credit carte account argument may leave you thinking it'south set in rock, but information technology's not. Your credit card company may be willing to shift your due date to a more than convenient twenty-four hour period of the month, similar your payday.

You can log in to your credit card's online interface to see if there is an option to modify the due date. If there'south no online option, you tin call the customer service number on the back of your credit menu and tell the representative yous'd like to change the due date.

Keep in heed that not all credit card companies will let due appointment changes, and those that do will have rules limiting the changes y'all can make. They also generally won't allow yous to skip a payment by changing your due date.

Determining your next credit card argument closing date

Some credit cards include the next closing appointment on your credit carte billing argument, simply not all of them do. If your statement doesn't include the next endmost engagement, you can calculate it with relative ease.

You'll demand two things from your current neb: your last statement closing engagement and the number of days in your billing cycle. Starting from the last argument closing appointment, count forward the number of days in the billing cycle. The day you land on is your next statement closing date.

For example, if your last statement closing appointment was March 1, and you have 28 days in your billing bike, your side by side argument closing date volition be March 29.

Credit card due engagement vs. endmost date — similar but different

Your credit carte du jour payment due date and closing date are similar in that they're both fundamental dates for your credit card that can touch your credit score. But that'south where their similarities end.

While your credit bill of fare argument closing appointment is but the end of the billing bicycle and the beginning of the minimum 21-day grace flow, the payment due date is the concluding day yous take to make at least the minimum payment before you lot incur a tardily fee.

Withal, there is i thing they do share: Both dates are key to maintaining a good credit score.

Agreement these two dates and their impact on your finances and credit is a cardinal step to salubrious personal finances.

If you have multiple credit cards, and yous don't want to worry almost missing their due dates, permit Tally manage your payments for you lot.