How to Figure Out My Credit Card's Statement Closing Date
The credit card closing date affects when your bill will be due each month. Finding the closing date for new cards is simple enough, if you know where to look.
January 28, 2022
Most of us receive paychecks weekly or bi-weekly. Yet our credit cards and other bills are usually due once a month.
As you may have noticed, credit card billing cycles often don’t line up with calendar months. You may get your card statement on the 11th of each month, for instance.
Plus, the day you get your statement is not the same day that the payment is actually due. This all creates plenty of confusion for credit card users.
This guide will seek to clear things up. We’ll show you how to find your credit card closing date and due date so that you can plan ahead for upcoming credit card bills.
What is a statement closing date?
The credit card closing date or statement closing date is the final day of the card’s billing cycle. A billing cycle generally lasts either 28, 30 or 31 days, depending on the card issuer.
Essentially, the closing date is the day that the credit card statement is produced and sent to the cardholder.
Any transactions that clear before or on this date will show up on the statement; any transactions made after that date will appear on the next month’s statement.
Payment due date vs. credit card closing date
In figuring out how to read credit card statements, there are two key dates to consider: the statement closing date and the due date. The closing date is not the same as the due date.
The payment due date is generally 21 days after the statement closing date. However, in some cases, a minimum payment may be due by 14 days after the closing date.
For example, if your statement closes on the 3rd of the month, your due date for the full payment would be around the 24th of the same month. Some card issuers may require a minimum payment within 14 days, which would land on the 17th of the month in this example.
If your statement closes on the 18th of the month, the due date would land somewhere around the 9th of the following month. A minimum payment may be due around the 1st or the 2nd of the following month if the payment due date is within 14 days of the statement closing date.
In most cases, the FTC requires that the card issuer credit the payment to your account as soon as they receive it. However, pay attention to any time-based cut-offs. For instance, a card issuer may require you to submit a payment by 6 p.m. ET on the day of the due date, in order to avoid a late payment.
Why the statement date matters
It’s important for cardholders to know when their statement closes for a few reasons:
It determines the payment due date
The due date typically lands 14 to 21 days after the statement closing date, depending on the card issuer. It helps to know this date to plan ahead.
The statement amount will be reported to the credit bureaus
The amount owed when a statement closes is usually the amount of debt that will be reported to the credit bureaus. That means if you pay off the card before the statement closes, a lower balance will be reported to the bureaus.
It’s when you’ll receive digital or physical statements
It’s a good financial practice to manually review your credit card statements each month. This will help remind you of where your money is going, and can also help you catch unauthorized or incorrect charges.
Example of closing date and due date
To demonstrate how these two dates interact, consider the following example.
Jaspal has a credit card that he currently does not carry a balance on. His account's statement closing date is on the 2nd of each month. His card issuer sets the payment due date 21 days after the closing date, so it lands on the 23rd of the month.
Jaspal makes several purchases with his credit card throughout the month. On the 2nd of the month he gets a statement that includes all of the recent transactions.
The payment for this statement is due on the 23rd. If Jaspal pays off the full balance before this due date, he won’t pay anything in interest.
If Jaspal chooses to only make the minimum payment, interest will begin to accrue on the remaining balance. Interest will begin after the 14- or 21-day grace period on the account (the time between the statement closing date and the due date).
How to find your credit card closing date
The statement closing date will show up on your monthly statements. Look for the opening or closing date at the top of the statement, under the summary section.
Some issuers may list a date range that covers the whole statement cycle. For instance, the statement may say “October 15 to November 14 Statement,” indicating that it covers all transactions made between these dates.
You can also contact your card issuer at any time if you have questions about your statement closing date.
If you’ve just recently applied for a card, you won’t have past statements to look at — so finding your credit card statement date looks a little bit different.
When will I find out my closing date on a new card?
If you’ve recently been approved for a new credit card, the best way to find your new closing date is to simply call the card issuer.
The closing date will be predetermined and doesn’t usually have much to do with the date you actually applied. For instance, your first statement may close just a few days after you get your card — or it could close almost a month after. It just depends on how the credit card issuer has it set up.
Some banks tell you your closing date along with your approval letter, but the only guaranteed way to find out your closing date is to contact the card issuer.
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