Credit Card Statement Date vs Due Date: What Each One Means

Every credit card has two dates that matter, and most people only pay attention to one of them. The due date gets all the attention, but the statement date is the one that usually ends up on your credit report.

Here's the difference, and how to use both.

The Statement Date

Your statement date (also called the closing date) is the last day of your billing cycle. On that day, the bank adds up everything you owe and creates your statement.

Two things happen around this date:

• Your statement balance is set. That's the amount you need to pay in full to avoid interest on purchases.
• Your balance usually gets reported to the credit bureaus. Most banks report around the statement date, so whatever you owe that day is usually what shows up in your utilization.

The Due Date

Your due date is the deadline to pay. By law, your statement has to be mailed or delivered at least 21 days before it, and the due date has to be the same day every month.

To count as on time, the bank generally needs your payment by 5 p.m. on the due date. If the due date lands on a weekend or holiday when the bank doesn't take mailed payments, a mailed payment that arrives the next business day still counts. Online payments are different, so if your bank accepts them on that day, pay by the cutoff on the actual due date.

How They Work Together

Here's an example. Say your statement closes on the 5th and your due date is the 30th.

• On the 5th, your statement shows a $600 balance, and that $600 is likely what gets reported.
• By the 30th, you pay the $600 in full, so you don't pay any interest on those purchases.
• Anything you buy on the 6th or later goes on next month's statement.

Which Date Should You Pay By?

If you just want to avoid interest and late fees, pay the full statement balance by the due date. That's it.

If you also care about your credit score, there's a trick: pay part of your balance before the statement date. A smaller balance on the statement date means a smaller balance gets reported, which lowers your utilization. Then pay whatever's left on the statement by the due date.

It's the same money, just paid a couple of weeks earlier, and it's especially handy in a month where you put a big purchase on one card.

Where to Find Both Dates

Both are printed on your monthly statement, usually near the top with your balance and minimum payment. Most banking apps show them too. The statement date is sometimes labeled "closing date" or "statement closing date."

If you want them to line up better with your paycheck, many banks let you change your due date. Some banks also let you change the statement date, and changing one can move the other, so check your next statement after a change.

The Quick Version

• The statement date ends your billing cycle and sets your statement balance.
• Your balance is usually reported to the credit bureaus around the statement date.
• The due date is at least 21 days after your statement and lands on the same day each month.
• Pay the statement balance in full by the due date to avoid interest on purchases.
• Paying some of it before the statement date can lower your reported utilization.

Keeping track of two dates per card gets messy fast once you have a few. Cardinate shows every card's due date and utilization on one screen and reminds you before payments are due. Free to start, no bank login needed.

Sources

• CFPB: Regulation Z § 1026.7, periodic statement
• CFPB: Regulation Z § 1026.5, the 21-day rule
• CFPB: If my credit card bill comes late, can I get more time to pay?
• HelpWithMyBank.gov: Making payments on a holiday