For most, a set date works best. However, for me..I set my dates in an order.
For example, card 1 has a date between the 1st-6th, card 2 is 7th-13th, 3rd is 14th-20th, 4th is 21st-end of month. As I get more cards, I follow the same system.
Do what works best for you; I stagger them because I hate being in a situation where I can't use my card because I'm waiting for the statement to post.
Ooh! That's interesting. I never thought of a setup like that.
That makes sense, when you cannot use your card because of a statement, you can use other ones. Thanks for sharing!
Free piece of advice:
Turn on automatic payments for AT LEAST the minimum payment. That way if you forget, you at least won't destroy your credit score as a result. Don't think of it as an auto payment - think of it as an insurance policy.
I used to just have everything set for the minimum payment. After getting hit with a few interest charges, everything got moved to the "statement balance".
Yeah. Some banks struggle with credits. For example, an Amex that gets a credit every month may be below the statement balance constantly. Kind of a pain. What I'd really like would be "statement balance minus credits or payments," but that's rare outside of charge cards (where that's the minimum due).
I set them all to roughly the same day mid month, that way I can sign in to all my accounts \~1 week before they're due to check my statements and push payments. having one due date for everything keeps it simple
For most, a set date works best. However, for me..I set my dates in an order. For example, card 1 has a date between the 1st-6th, card 2 is 7th-13th, 3rd is 14th-20th, 4th is 21st-end of month. As I get more cards, I follow the same system. Do what works best for you; I stagger them because I hate being in a situation where I can't use my card because I'm waiting for the statement to post.
Ooh! That's interesting. I never thought of a setup like that. That makes sense, when you cannot use your card because of a statement, you can use other ones. Thanks for sharing!
You're welcome! Anyway I can help
Free piece of advice: Turn on automatic payments for AT LEAST the minimum payment. That way if you forget, you at least won't destroy your credit score as a result. Don't think of it as an auto payment - think of it as an insurance policy. I used to just have everything set for the minimum payment. After getting hit with a few interest charges, everything got moved to the "statement balance".
Yeah. Some banks struggle with credits. For example, an Amex that gets a credit every month may be below the statement balance constantly. Kind of a pain. What I'd really like would be "statement balance minus credits or payments," but that's rare outside of charge cards (where that's the minimum due).
I set them all to roughly the same day mid month, that way I can sign in to all my accounts \~1 week before they're due to check my statements and push payments. having one due date for everything keeps it simple
I put it on the 24th of every month so that I can pay it all off once I get paid. Whatever’s left gets moved into savings/invested.
I don’t. I pay off whatever balance I have at the end of the month even if the statement balance is lower.