Spending after statement date

Mortinfo

I'm not really sure why I do this but I don't spend on my credit card after the statement date, so statement is produced on the 18th of the month and I won't spend on that card until I clear that bill on the 1st of the following month.

I take it this is stupid? Think I may have started this trying to improve my credit score.

If I spend after the statement date it will just go into the next months bill?

Also is it ok to spend after the statement date but just pay it at the same time as that statement to wipe the card.

Thanks for your help.

CLAPTON

anything spent after the statement date is simply billed on the next statement
you only need to pay the statement balance and do not need to add the new spending

that's what most people do : just pay the statement balance in full every month

Linda32

Mortinfo wrote: »

Also is it ok to spend after the statement date but just pay it at the same time as that statement to wipe the card.

Thanks for your help.

Funnily enough, No it isn't okay to do that. You will be in credit :eek:

You can spend after the statement date, up to the limit on your card of course, then as said above that spend goes onto your new statement.

As you pay in full, the best thing to do is set up a direct debit to pay the whole statement balance. You can't go wrong this way. I haven't a clue when my statement dates are. I just let the direct debit do the work.

20aday

In addition to Linda's reply repaying any amount(s) spent after your statement has been generated will show to potential lenders you're not using your card and therefore you *may* risk the chance of being declined credit elsewhere if they feel you've too much available to you.

I used to do that a lot and never saw things like credit limit increases etc. Since I've been repaying my balances in full after the statement date and before the payment due date I've had limit increases.

EarthBoy

Mortinfo wrote: »

Also is it ok to spend after the statement date but just pay it at the same time as that statement to wipe the card..

Linda32 wrote: »

Funnily enough, No it isn't okay to do that. You will be in credit

How can you be in credit if you only pay back what you've spent? Your account will simply show a zero balance. You'll only be in credit if you pay more than the outstanding amount at any time.

There's no benefit in paying what you owe before the next statement is produced because you're not avoiding any interest, but there's no harm in doing it if it helps you budget your finances. It just means that the next statement will confirm that you don't owe anything.

redux

Don't get hung up on the difference between calendar month and statement month. In credit card terms the calendar month doesn't really exist.