Owning a credit card means having control and organization. Keeping an eye on the credit card bill due date is essential as it is almost like the heart of your financial life, see why.
What is the best day to use the card? This is the question when thinking about a new purchase with the intention of paying it only in the subsequent month. This is because your card has a closing date, usually with the benefit of getting 40 days for payment. If your invoice expires on the 15th, for example, your best shopping day is certainly around the 5th of the month. But we advise you to consult your invoice, only it will bring the correct information.
How to choose the best credit card bill due date
Very important decision. Pay attention to the date, as there is no point in choosing a due date that you have not received yet. If you choose a date before you have money, it can lead to late payment, generating interest and a lot of headache. Our tip is to choose a date a few days after its receipt, perhaps due to an unexpected delay. If you receive on the 10th business day, choose the 20th as the closing, for example. And as explained earlier, in this case, your best day for shopping will be around the 10th.
Can I pay the invoice or installment payment before the deadline?
Yes! Especially if you have too much money and want to release your faster limit. You can make a single payment of any amount by generating credit on the next invoice. Or even anticipate the installments on your card. Simply contact your bank or applications and request advance values. Remember, if you made an installment purchase with interest, the amount will be retained, there is no discount.
I delayed the invoice payment, now what?
If you did not pay attention to the credit card bill due date, you will pay a 2% late fee. No matter if the delay was 1 or 10 days, the amount of fine will be the same, according to the Consumer Protection Code. In addition to default interest which can vary from 0.5% to 1%. The important thing is to pay on time, if this was not possible, try not to enter the revolving.
Our tip for you with more than one card is to choose two separate payment dates. This will give you two better shopping dates, managing your money better. And always be aware of the limit, spending more than you have a risk on your financial life.
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