Question from Palmer: How do I find out my statement closing date? I just opened my first credit card
Hello,
Finding out your statement closing date is a crucial step in managing your new credit card effectively. The statement closing date is the day your credit card issuer creates your billing statement, which includes all the transactions you made during the billing cycle. Here are some simple ways to find out your statement closing date:
Check Your Credit Card Statement
The easiest way to find your statement closing date is to check your credit card statement. This can be a paper statement that comes in the mail or an electronic statement that you can access online. The statement closing date is usually listed at the top of the statement.
Contact Your Credit Card Issuer
If you can’t find the information on your statement or if you haven’t received your first statement yet, you can contact your credit card issuer directly. You can call the customer service number on the back of your credit card or use the online chat feature if your issuer offers one.
Log Into Your Online Account
Most credit card issuers allow you to manage your account online. Once you log into your account, you can usually find your statement closing date in the account details or billing information section.
Here are some tips to manage your credit card effectively:
- Pay your balance in full: To avoid interest charges, try to pay your balance in full each month by the due date.
- Keep track of your spending: Regularly check your account to keep track of your spending and to spot any fraudulent charges.
- Consider setting up automatic payments: This can help ensure you never miss a payment.
Remember, understanding your statement closing date can help you manage your credit card and avoid unnecessary fees. It’s also important to note that if you’re considering borrowing money or taking out an installment loan, your credit card usage and payment history can impact your credit score and your ability to secure such loans.
According to the Consumer Financial Protection Bureau, paying your credit card bill on time, keeping your balances low, and only opening new credit when you need it can help maintain or improve your credit score.
