The statement date is the day a card issuer closes the billing cycle, produces the statement and reports that day's balance to the credit bureaus.
The statement date is the day a card issuer closes the billing cycle, produces the statement and reports that day’s balance to the credit bureaus.
Also called: Statement closing date.
How it works#
The statement date decides which balance appears in the credit file, and therefore the reported utilization. A payment made after that day no longer improves the reported figure, it only prevents interest. Paying before the statement date reports a lower balance without any change in payment behaviour. The date appears on every statement and stays stable for months.
Not to be confused with#
The statement date is not the due date: the statement date drives the report, the due date decides whether interest accrues.
In German#
The German term is Abrechnungsstichtag. German version of this term
Related terms#
- Payment due date: The due date is the day by which payment on a card statement must arrive so that no interest accrues on purchases made during the cycle.
- Credit utilization: Credit utilization is the ratio between the balance on a card and its credit limit, expressed as a percentage.
- Credit report: A credit report is the collection of reported credit accounts held on a person by a bureau, with limit, balance, payment status and the inquiries other lenders made.
Articles that use this term#
TopicEvery article and term onUS credit cards.
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