How to Change Your Credit Card Due Date

Change the due date of your credit card to a more convenient day

Steps to Change Your Credit Card Due Date

The first step to changing your credit card due date is to choose a date that aligns better with your financial situation. If you receive your paycheck every two weeks, it’s good to have some bills due on the first of the month or shortly after, and some bills due around the 15th of the month or shortly after. This allows you to synchronize your paycheck receipt dates with the due dates.

Calculate the amount you owe each month and the due dates of those bills. Change your credit card due date to a timeframe when you have to pay the least amount towards your bills. This way, you won’t have all of your higher payments due at the same time of the month.

Note: Since credit card payments are due on the same date every month, you’ll be unable to choose the dates 29, 30, or 31, as those dates do not occur in every month.

You may need to pay any overdue balance before you can change your credit card due date. Some card companies, like Chase, require that your account is in good standing before the change can be made. If you are behind on your payments and cannot afford to catch up immediately, talk to your credit card company about payment arrangements or entering a financial hardship program.

To actually make the change, call the customer service department of your credit card company using the number on the back of your card. They will ask you to specify your desired due date and then make the change. You may also be able to log into your account online and make the change yourself.

After the Change

It may take a few billing cycles for your new due date to become effective. Continue to monitor the payment due date on your billing statement until your payments are on time. Once the due date change becomes effective, this will be the due date you will have every month in the future.

Your first statement after changing the due date may have higher finance charges if the first billing cycle after the change is longer than usual. Don’t worry. The finance charges and minimum payment will return to more typical amounts on the next billing statement.

If You Cannot Change the Due Date

If your credit card company does not allow you to change your payment due date, you can still change your payment habits. For example, if your payment is due on the 17th of the month, you can pay it using the salary you receive on the first of the month instead of the salary you receive on the 15th. If you sign up for electronic billing, you can confirm your payment amount as soon as your billing statement is ready instead of waiting for it to arrive by mail.

You can also try changing the due date of another payment, such as a phone bill or utility bill. If you change the due date for one of these services, the first payment after the change may include some calculated percentage fees.

Statement Closing Date

Changing your payment due date does not necessarily affect your statement closing date. The closing date is the time when your credit card company reports your credit usage to the credit bureaus. This is important to remember because your credit usage affects your credit score. The more unused credit you have, the higher your credit score will be.

For example, if your statement closing date is the 28th of the month, your credit card company will report your balance to the credit bureaus as of that date. Therefore, regardless of when you pay the bill or your average balance throughout the month, your credit utilization portion of your credit score will be based on your balance at the closing date. Keep this in mind when deciding the best time to pay your bill.

Questions

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How easy is it to change the due date of your credit card?

Changing the due date of your credit card can be easy, but it depends on your account status. If you are regularly missing payments and currently have a high outstanding balance, the credit card company may be less willing to accommodate your requests. If your account is in good standing, changing the due date can be as simple as calling customer service.

How can I find out my credit card’s due date?

There are several places where you can find your credit card’s due date. The most convenient way to check is likely online (or via your credit card company’s app). The due date should be prominently displayed on your online account. You will usually find it somewhere near your outstanding balance. You can also check your most recent billing statement for details about your billing cycle, including the upcoming due date. If these two strategies don’t work, call the customer service number on the back of your credit card.

What happens if I pay off my credit card balance before the due date?

There are no downsides to paying off your credit card balance early. Missing payments can negatively impact your credit score, so it may be wise to pay off your balance well before the due date. This way, if any issues arise, you will have enough time to address them without worrying about negative marks on your credit report.

Source: https://www.thebalancemoney.com/how-to-change-your-credit-card-due-date-961112