Credit cards have replaced cash in our daily lives. Credit cards, which are preferred especially for their installment and reward point options, can provide consumers with many advantages when used correctly, but uncontrolled spending and late payments can lead to serious problems. One of the most important things to know in order to avoid problems with credit card payments is the statement closing date.
The statement closing date is the date on which spending made with a credit card is reflected as a debt to the customer.
During the credit card application process, the customer's preferred statement closing period and due date information (for example, the statement closes on the 10th of each month and the due date is the 20th) is collected. The due date is usually 10 days after the statement closing date. If the statement closing date falls on a holiday, the statement closing date for that month is set as the first business day after the holiday.
Spending made after the statement closes is listed in the next statement's transactions.
The statement closing date is set by banks as one of 4-5 different periods.
The statement closing dates and due dates commonly used by banks are listed below.
For example, if we take the top row of the table below and consider September spending: a customer's spending between September 1 and September 30 is reflected as a debt to the customer on the statement issued on October 1. The customer is then expected to pay this debt by October 11.
| Statement Closing Date (Day) | Due Date(Day) |
| 1 | 11 |
| 5 | 15 |
| 7 | 17 |
| 10 | 20 |
| 15 | 25 |
| 21 | 1 |
| 25 | 5 |
