What is a statement end date, start date, or due date? Sometimes the end date can appear to come from after the due date? How is this possible? These designations can be very confusing for those looking at a credit card statement. Let me demystify this for you.
How’s it going everybody this is beat the bush today i’m gonna explain the difference between a closing date and a due date in your credit card statement now your credit card statement is gonna have something called a billing period and there is gonna be an opening date and a closing date now this is opening and closing of the statement period the opening date is
Usually on the same day of every month but it does not have to because i have some statements where it moves around a little bit by one or two days this is really annoying so just take the concept as it is and realize that the due date is usually about 15 to 25 days after the closing date now perhaps in a calendar format things will be a lot more clear usually in a
Statement it would show an opening date and a closing date shown in blue here now this is from the 6th to the 5th of the next month so then the next statement period would be the 6th of the next month all the way up to the following month after that whenever you get a statement it’s gonna show all the charges that you did during this blue statement period after your
Statement period ends they go through this frenzy where oh yeah you know they tally up everything else and they send your statement your information to the press where they have to print out things right you get a paper statement if you get it then they have to print it out they have to stuff their envelopes and stuff and they have to mail it to you which after
You know i don’t know 10 days or something you would finally get your statement in the mail then when you open it up you’ll see oh yeah you know your statement period from here to here all the stuff that you spent from this period it’s gonna be shown on a piece of paper statement by the time you see the same and you’re gonna still have a few weeks left before your
Actual due date so for this period in blue here you can see after 25 days it’s the due date over here all the way on the 30th of october so by the time you get your statement you’re still gonna have a few weeks to be able to pay it off before it’s actually do you have to pay off before this date or else they’re gonna charge some interest fee or late fee or whatnot
Now some statements are really confusing and i almost think the credit card companies they’re purposely doing this to confuse the consumer however sometimes the statement close date they might quote a date for the current statement so it’s like trying to tell you when your next statement is gonna close so then you’re gonna get a statement close date november 5th
For example and then on that same statement you’re gonna see oh the due date is october 30th so you know that might be a little confusing to some because your statement close date how can it close after your due date well because the due date is for the previous statement period over here and the next statement closed period is over here and the due date for that
Close period is gonna be some 25 days or so afterwards which is in november 30th so i hope this video helps you understand your statement a bit better i know i’ve been answering this question over and over again in the comment section i must have retyped the same thing about 30 times already so now i made this video i’m going to post this link for anybody to ask
About this question again it’s kind of like just to help myself and help you guys as well don’t forget to give me a like on this video comment down below let me know if this helps you out and helps you understand your credit card statement a little bit better if you’re interested in supporting my channel don’t forget to check out my audible link down in the video
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Transcribed from video
Statement Date vs Due Date By BeatTheBush
