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Credit Card monthly statement -how long normally to pay it by?

  • 07-11-2015 12:43am
    #1
    Chimichangas
    Registered Users, Registered Users 2 Posts: 737 ✭✭✭


    How long to CC companies normally give to pay off a monthly statement.
    With avantcard from what used to be mbna, and it seems you have about 3 1/2 weeks to pay the total. From what i recall, with mbna it was nearly a month.

    Mbna used to issue a statement on, for example the 5th and say you had to pay by the 4/5/6th of the next month. The next statement would be issued from that day, maybe next day AFAIR. So you pay your bill by due date, next day, a statement is issued and your new statement starts.

    With Avantcard, for example, they issue a statement on 7/8/9 to be paid by the 2/3 of next month. The next statement will be issued about 5 days later.:confused: So you pay your bill. Wait about 5 days for your next statement to be issued, youre still on your current statement.

    So they reduce the time you have to pay a bill, and those extra days of buying more for the next statement do count.
    I thought mbna were bad...:rolleyes:

    What are other credit card issuers like? How long do you have to pay your bill from when statement is issued? How long between pay by date, and new statement being issued?


Comments

  • #2
    Yggr of Asgard
    Registered Users, Registered Users 2 Posts: 5,227 ✭✭✭Yggr of Asgard


    I don't know what they do to your account there, but my bill is always issued on the same day every month, the 15th of the month.

    The due date is than 26 calendar days later.

    They have never issued a statement to me 5 days after I made a payment, they only issue the statement on the same day of the month independent of when I pay.

    You might want to give them a ring and see if they can change the billing date to something more suitable, according to the FAQ they can do that for some accounts.


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,476 ✭✭✭✭coylemj


    Yggr of Asgard wrote: »
    I don't know what they do to your account there, but my bill is always issued on the same day every month, the 15th of the month.

    +1 I don't know of any credit card where you can manipulate the billing cycle as described by the OP. Similar to the above poster, my cut-off date is the 11th so I get the bill on about the 15th and the minimum payment date is roughly the 5th of the following month. It never changes regardless of when I pay the bill.


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