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Question By
MsValerieAnne

9 Contributions
10 People Helped
CC Pay in Full Monthly, Billing/Due Date question
Hi. I plan on paying my credit card off every month in full (on the months I use it). I was reading the 'with numbers' thread, asked this there and nobody noticed, so thought I'd start another question so if somebody else has the same question.

I talked to capital one through secure e-mail about when my billing/cycle and due dates were as it's not mentioned on my dashboard when I log into my account. I was told my DUE date is the 2nd of every month and my billing/cycle date is the 5th of every month. Should I change my due date to something AFTER the 5th? If I pay after the 5th, would my payment be late since it's after the 2nd?

Thanks

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Top Contributor
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Here's what my card is like.

My credit card has a closing date on the 8th and a due date on the 2nd.  The due date is when they expect the payment to arrive so that you don't end up being charged interest.  The closing date is when they stop entering purchase data to your account and total it up for the next billing cycle.  This also gives them sufficient time to post the payment made on the second.

Your credit card has a closer cycle than mine, but  they may have a more sophisticated payment processing center than mine.  No big deal.  But, NO, you do not want to change your due date to the 5th.  Just make your payment on or before the 2nd and you'll be fine.  And "paying it in full" every month only means paying what the statement says is the total amount owed even if you've been keeping meticulous records of your spending every month.  Don't pay more just because you want tour credit reports to indicate that you have used the card.  If you paid EVERYTHING before it even got to the billing cycle, you would not show usage of the card, and that would hurt your credit score.

Your payment in full plan is excellent.  As another caution, try to keep your card usage at or below 20% of the credit limit given.  That way, you'll ALWAYS have extra credit available in case of emergency, which we hope never happens.

Hope this helps. 

Reply by
MsValerieAnne

9 Contributions
10 People Helped

This month I will be paying the total amount/down to 0 as it ionly has the annual fee on it. The minimum for Capital One is 25$ a month and I'm not gonna leave 4$ on the card. I won't be using it every month, either. The only time I probably wouldn't pay it in full (everything I put on it) would if I buy a medium purchase (as my card only has a limit of 231) and it would be something I'd pay completely off in 2 months. Thanks for the info!

9 Contributions
10 People Helped

This month I will be paying the total amount/down to 0 as it ionly has the annual fee on it. The minimum for Capital One is 25$ a month and I'm not gonna leave 4$ on the card. I won't be using it every month, either. The only time I probably wouldn't pay it in full (everything I put on it) would if I buy a medium purchase (as my card only has a limit of 231) and it would be something I'd pay completely off in 2 months. Thanks for the info!

Top Contributor

Reply by
Sumflow

109 Contributions
71 People Helped

Call the number on the back of your card and ask them to change the due date.

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