Credit Cards
April 27, 2022

4 dates to look for beyond the due date on your credit cards

Paying off your credit card bills before their due dates could improve your credit score faster.

One of the first things that you should do when you get a new credit card is to note the billing date and due date. 

The billing date is when your credit card issuer sends out your statement every month. The due date is the last day to pay your credit card bill to avoid accruing interest charges.

These dates are important for avoiding late fees, penalties and interest charges. They can also help you get a better handle on your credit.

What are the 4 dates to look for beyond the due date on your credit cards?

The 4 dates are:

  1. Billing cycle
  2. Statement closing date
  3. Payment due date
  4. Annual fee due date

1. Credit Card Billing Cycle:

The credit card billing cycle is the period of time during which transactions and charges are combined into a single monthly payment. It refers to the period between the closing date of the previous statement and the next. The period typically ranges from 28 to 31 days depending on the credit card issuer.

2. Credit Card Statement Closing Date:

The credit card statement closing date is the date when the credit card statement is generated. It’s the date when all of the transactions made between the last statement and current statement closing date will be included on your next billing statement.

After receiving your credit card statement, you’ll have a grace period, where you can pay the balance in full without incurring interest charges, as long as you make the payment in full before the due date.

3. Credit Card Payment Due Date:

A credit card payment due date is the last day to make a minimum payment on your credit card to avoid penalties and late fees. You'll be charged interest if you don’t pay off the full amount before this date.

Your payment due date has a huge impact on your credit score. It’s a significant factor in your score (35%). Paying off the bill after it’s due could cause real damage to your score.

4. Annual Fees Due Dates:

If you have a credit card that comes with an annual fee, you’ll need to pay it once a year. These fees can vary widely and are sometimes based on the perks you receive, like travel discounts, rewards and cash back. 

Not all cards with an annual fee offer lower rates or even bonuses. So when applying for a new card, or searching for best buy credit card look closely; compare APRs, fees and the perks you’re offered.

What Happens When You’re Past Due on Your Credit Card Payments?

If an account is past due, this means that the minimum required payment was not paid as of the last payment due date. After a missed payment, your credit card account will become “past due.” 

If your payments are past due, you can expect to be charged a late fee in addition to the interest charged on the balance you’re carrying over. If you continue to miss paying your due date, you could face increased interest rates or even lose the ability to make purchases. 

Even if you missed a due date, it usually won’t affect your credit rating until the payment has been 30 days late, depending on when your card issuer reports to credit bureaus.

Your account will probably be closed if you’re more than 180 days or six months late on your credit card bill. You’ll have the option to pay it in full, and you won’t have the option to make minimum payments. Your credit card company may also sell or assign the account to a collection agency.

Charge-offs are one of the worst things that can happen to a person’s credit report. When you apply for another credit card, you’ll have a tough time qualifying and may be denied.

How can You Fix a “Past Due” Status?

You can address a “past due” status on your credit report by making future payments on time as well as paying off any interest charges and late fees that have accumulated. 

After making your next payment, your credit card issuer will report your on-time status to credit bureaus. If your issuer raises your APR because of a past-due payment, you’ll usually return to the regular rate after six months of on-time payments.

If you can’t afford to make a minimum payment on time, talk to your credit card company about payment options. They may be able to offer a different arrangement. 

Some lenders may transfer past-due amounts to the balance of your credit line, helping you get out of the past-due status on your credit report.

Why Bright Money?

Bright Money offers a suite of innovative financial products designed to assist individuals in rebuilding their credit and achieving financial wellness. Bright Plan offers an array of tools and features that empower users to take control of their finances, eliminate debt, optimize savings, and make informed investment decisions.

Bright Plan's standout feature is its Ai-driven approach that tailors financial plans to your unique circumstances and aspirations. This personalized touch sets Bright Plan apart from conventional financial tools that offer generic advice without considering individual nuances.

Bright Plan acts as a financial assistant, helping you organize your accounts, automate bill payments, set up personalized budgets, and chart a path toward debt freedom and wealth accumulation.

Bright Builder, another flagship product, is specifically tailored to help users establish and strengthen their credit history. Through responsible use of Bright Builder, individuals can gradually build positive credit activity, leading to improved credit scores over time. Moreover, Bright Money offers educational resources and personalized coaching to support users' credit-building journey. By combining cutting-edge technology with expert guidance, Bright Money provides a holistic approach to financial wellness, empowering individuals to take control of their finances and build a brighter future.


In conclusion, understanding the important dates associated with your credit card is crucial for managing your finances effectively and avoiding unnecessary fees and penalties. By noting the billing cycle, statement closing date, payment due date, and annual fees due dates, you can stay on top of your credit card obligations and maintain a positive credit standing. Failure to adhere to these dates can result in late fees, increased interest rates, and potential damage to your credit score. Prioritizing timely payments and communicating with your credit card issuer if you encounter difficulties meeting your obligations is essential.


1. What are the important dates to remember on my credit card?

The important dates to remember on your credit card include the billing cycle, statement closing date, payment due date, and annual fees due dates. These dates dictate when your statement is generated, when payments are due, and when annual fees are charged.

2. What happens if I miss a credit card payment?

Missing a credit card payment can result in late fees, increased interest rates, and damage to your credit score. If you continue to miss payments, you may face further consequences such as account closure or assignment to a collection agency. It's crucial to address missed payments promptly to minimize negative impacts on your financial health.

3. How can I fix a "past due" status on my credit report?

To address a "past due" status on your credit report, make future payments on time and pay off any accrued interest charges and late fees. Consistent on-time payments can help restore your credit standing over time. Additionally, communicating with your credit card issuer about payment options or transferring past due amounts to the balance of your credit line may offer relief from a "past due" status.

Recommended Readings

Why your payment date is important on your credit cards

Should I pay my credit card bill as soon as I get it?


Pranay Chirla
Technical Content Writer
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