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I just got my first credit card ever to begin building a credit. I got the chase credit card called Freedom. I have heard so many stories of credit cards that I got a little scared and that is why after living 4 years in the USA I finally decided to get one. My question is, someone told me my closing date is different then my due date, but I don't know when my closing date is. I haven't got my first bill yet since I just activated it this week. Here is how it is.

My due date is the 23 of each month and yesterday the 14th I had to buy an outfit for an event and used my credit card for the first time. In this case, will this count for this month still or will it only show on my next statement? Since people told me that even though my due date is the 23 my statement probably closes on the 15th. I am so confused, and really don't want to mess up.

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    While Nate's answer is a fine one, you realize that these cards have 24 hr customer service people you can call. They'll know the cycle of your bill. Alternately, on line access will show you exactly when a billing cycle will end. – JoeTaxpayer Mar 15 '15 at 17:53
  • For capital one, I got my card activated May 9th, statement date is June 2nd, first due date is June 27th. Customer service rep told me credit score will be updated sometime in July. Customer service should have some great info for your card too. – Devin G Rhode May 29 '18 at 20:03
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The definitive way to find out the closing date is to call the card issuer and ask. You can most likely also find this out by logging into your account online. (Thanks JoeTaxpayer for pointing this out.) If this is too much trouble, read on.

When you received the card, you should also have received a "cardmember agreement" booklet. In this booklet, it should explain how long after the closing date is the due date.

Typically the due date is at least 25 days after the closing date. (This seems to be pretty universal across card issuers; maybe it is a legal requirement but I am not sure.) Assuming that's the case, working backwards, if your due date is the 23rd of each month, that means your closing date is near the end of the previous month (say around the 30th).

So your purchase on March 14 will be part of the billing cycle that closes on March 30 or thereabouts, and the payment for that cycle will be due on April 23.

Once you receive your first statement, it will include the dates of the billing cycle that it covers; the last day of that cycle is your closing date. You can then assume it will be roughly the same day of every month from then on (it may vary by a day or two due to months with different lengths).

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    The due date can vary. I've seen it shorter than 25 days. – Sun Mar 16 '15 at 16:02
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    @sunk818: For the US, the answer seems to be given by consumerfinance.gov/askcfpb/47/… : card issuers do not have to provide a grace period between the closing and due dates, but if they do it has to be at least 21 days. – Nate Eldredge Mar 16 '15 at 17:38
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Think of it this way, the best time to buy the dress for the event outfit is 19 Jan 2015. Worst day to buy is 18 Feb 2015.

You are lucky to have a Chase credit card. Their credit statement is designed well and provides more information than American Express (AmEx) or Bank of America (BofA). You most likely have to call them to figure what your Closing Date is. By law, credit card companies have to tell you the Opening Date and Payment Due Date, but Closing Date is optional.

In the example below, all the charges made from 19 Jan 2015 to 18 Feb 2015 is part of one statement. All the charges on that bill is due 15 Mar 2015. When your statement cycle ends (Closing Date) to when the bill is due (Payment Due Date) is called your grace period. The grace period days will vary depending on how many days there are in the month. February has 28/29 days (February), while March will have 31 days. Because your payment due date is always the same calendar day, this is why your grace period varies.

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Just including a second example that is actually a Chase Freedom card. Same company, so the bill design is the same.

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With the card just activated you have not received a statement yet. If you sign up at https://chaseonline.chase.com/ you will have a clear summary of your account with amount and due date. It will give you access to your statements, and on each statement you'll find the due date. The due date can also be changed from within the website. See https://www.chase.com/index.jsp?pg_name=ccpmapp/shared/assets/page/card_faq

protected by Chris W. Rea Dec 10 '16 at 14:14

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