BOI Credit Card Monthly Cut Off Dates

libra02

Just wondering does any one now what the month cut off date for charges to a BOI credit card.

It never seems to be standard, as sometimes you only get items charged to the 30/31st of month and other times charges from the 1-3rd of new month would be applied to the current bill and not the next month as you thought it would be.

For example if I bought an item this Sunday 1st July -it techinically should be on the bill due end of August but it could appear on billl due in July.

Thanks

roro2

It's not usually a calendar month with credit cards, e.g. payment may be due around the 20th rather than month-end, not sure about BOI specifically. It also depends on the transaction date vs the posting date, which will be affected by any delay from the retailer sending through the transaction and weekends, etc. Don't think there is any hard rule from a customer's point of view.

libra02

roro2 wrote: »

It's not usually a calendar month with credit cards, e.g. payment may be due around the 20th rather than month-end, not sure about BOI specifically. It also depends on the transaction date vs the posting date, which will be affected by any delay from the retailer sending through the transaction and weekends, etc. Don't think there is any hard rule from a customer's point of view.

Ok thanks for that. I alawys presumed that there was a specific cut off date say 31st of a month with 31 days and then maybe taking in the 1st day of following month if there are only 30 days.

I could never find out if there was a specific date alright - My bill is always due 27th of each month.

Be easier if there was as for the sake of waiting a day to purchase something you could get an extra months credit.

roro2

Be easier if there was as for the sake of waiting a day to purchase something you could get an extra months credit.

Agreed!

cazzak79

It would also depend when the retailer puts it through and also u need to discount weekends as the clearing normally is Monday to friday

chris85

libra02 wrote: »

Ok thanks for that. I alawys presumed that there was a specific cut off date say 31st of a month with 31 days and then maybe taking in the 1st day of following month if there are only 30 days.

I could never find out if there was a specific date alright - My bill is always due 27th of each month.

Be easier if there was as for the sake of waiting a day to purchase something you could get an extra months credit.

Purchasing a day later would have no difference. One you make a purchase you have a number of days to clear it, i get 53 days on the BOI clear credit card. once them 53 days is up, i get charged interest on this purchase daily but gets charged on a monthly basis.

Terrontress

3 important dates - Transaction date, Posting date and Cycle date.

Transaction date is when you buy something.
Posting date is when it hits your account. If someone has an old fashioned credit card imprinter they could wait a week before sending in your transaction. But the difference is usually 1 to 2 days.
Cycle date is a day between 1 and 28 on your account each month a statement will be drawn at that day of all the posted transactions. You are then given a set number of days, usually 25, to make your payment by.

If your transaction is posted on the other side of the cycle date then it will come to the next month's statement.

Remember, if your statement balance is €1,000.01 and the day before your due date you pay off €1,000.00, leaving a penny owing, you will pay interest of the full €1,000.01, not just the penny.