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Debt and credit

Statement date

The day a credit card's billing cycle closes and the statement balance is set; the due date comes afterward.

What It Means

The statement date, also called the closing date, is the last day of a credit card's billing cycle. On that day the card company totals what you owe into the statement balanceStatement balanceWhat you owed on a credit card when the billing cycle closed, as printed on that month's statement. See more and produces your statement, which lists the minimum payment and the due date. The due date comes later: federal rules require the statement to be mailed or delivered at least 21 days before the payment is due. Charges made after the statement date belong to the next cycle.

Try It: Walk Through One Billing Cycle, Date by Date

Maya's card for one cycle. Step through the dates.

June 5: statement date

The cycle closes. The statement balance is set at $640, and around now the card company typically reports that balance to the credit bureaus.

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How People Say It

  • "My card closes on the fifth and it's due on the thirtieth."
  • "Pay it down before the statement date if you want a lower balance reported."
  • "That charge was after closing, so it's on next month's bill."

The Breakdown

A short example. Maya's card closes on the 5th of each month, and her payment is due on the 30th. Her June 5 statement balance is $640. She makes a $180 purchase on June 12, then pays the $640 on June 28.

Where it goes wrong. Maya is about to apply for a car loanCar loanAn installment loan used to buy a vehicle, repaid in monthly payments over a set term, with the vehicle as collateral. See more and wants her credit utilizationCredit utilizationThe share of your available revolving credit you're using, found by dividing your card balances by your credit limits. See more low. Every due date she pays her cards in full, yet her credit reportCredit reportA record of how you've borrowed and repaid, kept by credit bureaus and sold to lenders, landlords, insurers and others who decide whether to deal with you. See more shows $640 on this card. The card company reported the balance around June 5, when the statement closed, before her payment arrived. Paying part of the balance before the statement date would have lowered the figure that got reported.

What to watch for

  • Know both dates for every card: the statement date sets the balance, and the due date is when payment must arrive.
  • New charges made just after the statement date won't be due for well over a month, which is easy to lose track of.
  • If a low reported balance matters, pay before the statement date, and still pay the statement balance by the due date.
DateWhat happens
Statement dateThe cycle closes and the statement balance is set
At least 21 days laterThe due date, when payment must arrive
Around the statement dateThe balance is usually reported to the credit bureausCredit bureauA company that collects information about how people use credit and sells it as credit reports; Equifax, Experian and TransUnion are the three nationwide ones. See more

Good to Know

Regulation Z (12 CFR 1026.5) requires card companies to mail or deliver your statement at least 21 days before the payment is due, and at least 21 days before any grace periodCredit card grace periodThe time between a card statement and its due date when purchases collect no interest, as long as you pay the full statement balance. See more ends. Experian and Equifax say card companies generally report to the credit bureaus around the end of each billing cycle, though the timing varies by issuer, which is why myFICO notes that a card paid in full every month can still show a balance on your report. Your statement and your online account both show your statement date.

FAQ

What's the difference between the statement date and the due date?

The statement date closes the billing cycle and sets the balance. The due date is when your payment must arrive, and the statement has to be mailed or delivered at least 21 days before it.

Should I pay my credit card before the statement date?

You don't have to, since paying the statement balance by the due date avoids interestInterest rateThe yearly percentage a lender charges for borrowing money, not counting fees; the APR adds certain fees to show a fuller cost. See more on purchases with a grace period. Paying before the statement date can lower the balance that gets reported to the credit bureaus.

Are purchases made on or after the statement date on this bill?

Charges that post after the cycle closes go on the next statement, with their own due date. Check your card's terms for exactly when a charge posts.

Do It in Buhata

Reminders, Bills

Set a Reminder two days before each card's statement date to pay down balances you want reported low, and with Plus, add the due date to Bills.

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Related Terms and Categories

  • Statement balance

    What you owed on a credit card when the billing cycle closed, as printed on that month's statement.

  • Current balance

    The total you owe on a credit card right now, including charges and payments made since your last statement.

  • Credit card grace period

    The time between a card statement and its due date when purchases collect no interest, as long as you pay the full statement balance.

  • Credit utilization

    The share of your available revolving credit you're using, found by dividing your card balances by your credit limits.

  • Late payment

    A payment that reaches the lender after its due date; on credit reports, one that's 30 days or more past due.

Debt and credit

Sources

Experian, "Statement Balance vs. Current Balance: What's the Difference?"; Chase, "Statement Balance vs. Current Balance"; Capital One, "Statement balance vs. current balance: How they differ"; CFPB, Regulation Z, "ยง 1026.5 General disclosure requirements"; HelpWithMyBank.gov (Office of the Comptroller of the Currency), "How long does the bank have to send the statement before the due date?"; Experian, "When Do Credit Card Payments Get Reported?"; Equifax, "How Often Do Credit Card Companies Report?"; myFICO Support, "Why does my credit report show balances when they're paid off each month?"; Consumer Financial Protection Bureau, "What is a grace period for a credit card?"

Last updated .