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You might be able to modify the due date on your statement from your bank or credit card issuer, though you might only be able to do so a limited number of times a year. You can schedule your payment close to a pay day by changing the credit card payment due date, which may provide some budgetary flexibility.
Why you might want to change your credit card’s due date
Modifying the due date on your credit card could provide the following advantages:
You may gain flexibility in managing your finances. Regarding the due dates for statements, a lot of other vendors, like your utility company, are probably not going to be accommodating. You can reschedule your credit card payment for a later date in the month when you have less financial obligations.
You may be able to improve your credit health. Think about choosing a day that works for you and your budget when determining when to make your payment. For instance, you might want to plan your due date for shortly after receiving your paycheck or direct deposit into your bank account. Remember that a significant amount of your credit score could be attributed to your timely payments.
You may be able to save more effectively. Financial advisors often advise clients to “pay yourself first” by saving money before making discretionary purchases. You can retain more of your money in the bank and be more dedicated to your savings goals if you move the date of your payment to better coincide with your other income sources and outflows.
How do you change your credit card’s due date?
By contacting your credit card issuer, you might be able to modify the due date on your credit card statement. To modify the due date on your credit card, you can try contacting their customer service number or going to your online account.
How long does it take for a due date change to come into effect?
Credit card statement due date changes wont take effect immediately.
The date change will typically take effect one or two billing cycles after you submit the request. You will be required to pay your credit card bill by its current due date until the date change is officially implemented.
What if you pay your credit card bill one day late?
As long as you don’t make it a habit, paying a credit card bill after the due date is not a huge deal.
Your credit report will list any late credit card payments. Your payment history makes up a large portion of your credit score, so even one late payment can negatively impact it.
Although a single late payment won’t likely have a major negative impact on your credit score, a string of late payments will undoubtedly lower your score. You can also be charged late fees, though if your payment history is generally good, you can usually work out a deal to waive your first fee.
Contacting your credit card issuer may offer you some options for late payments that won’t damage your credit if you know you won’t be able to make your next payment on time.
How can you avoid paying your credit card bill late?
Consider the following methods for preventing late payments in addition to modifying the due date on your credit card statement:
Organize automatic payments through your credit card issuer or bank. Automatic payments are free and simple to configure. On the same date every month, you can instruct your bank or issuer to deduct the minimum payment amount, the entire amount on your statement, or any other amount you specify.
Keep your credit utilization low. You can maintain a good utilization ratio by consistently paying your credit card bills on time and keeping your balances modest.
How to move your credit card’s due date
Your credit card bill’s due date can be changed to provide you more time to pay what you owe and improve your financial situation. Determine a suitable due date by comparing the dates of your other bills and your pay period, then get in touch with your card issuer.
What to read next
For Informational/Educational Only: The views expressed in this article may not align with those of other JPMorgan Chase staff members or departments. The strategies and opinions presented may not be suitable for every person, and they are not meant to be personalized recommendations or advice for any one person. Prior to making any decisions, you should carefully assess your needs and goals and speak with the relevant professional or professionals. Outlooks and past performance are not guarantees of future results.
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FAQ
Does changing due date affect credit score?
Your credit won’t suffer if you move your bill date, but you should be aware that the change won’t take effect right away. It may take up to two months for your new billing date to appear if you change the due date on a Capital One credit card, for example.
How do I change my bill due date?
Speak with the business to get the due date for your bill changed. You can send a letter, email, or use the customer service line to request a change, if it is available.
Can I change my Capital One credit card due date?
Although you usually have no control over how long your card bills you, you might be able to ask for a different date on which your bills are due. The modification could take one to two billing cycles to take effect if approved.
What is the best credit card due date?
Making your payment well in advance of the date on your statement may help lower your credit utilization, which may raise your credit score or help you keep good credit.
Read More :
https://www.chase.com/personal/credit-cards/education/basics/how-to-change-your-credit-card-payment-due-date
https://www.nerdwallet.com/article/credit-cards/change-billing-date-credit-card