Many card issuers allow payments until 11:59 pm ET, but a few have cutoffs earlier in the day. When making a last-day payment, it’s important to do it before the cutoff time.
Chase used to have an 8 pm ET cutoff; any subsequent payments were processed as the next day unless you called in to make the payment over the phone. Via Frequentmiler, Chase is now sending out an email that all payments made until 11:59 pm ET will count as processed that day, even payments processed online or with the mobile app.
This will be helpful for many people. It’s funny that I never personally took note of any of this since I always pay everything off way in advance – usually before statement close to help my credit score, and whatever small balance remains gets paid off immediately after statement close.
Frequentmiler has a handy list of cutoff times for popular issuers:
- Bank of America, Capital One, Citi, Discover and now Chase: 11:59pm Eastern time
- Barclaycard: 7 pm ET
- US Bank: 7 pm CT
- Amex: 8pm MST
td 5pm (sad face)
If this news resonates with you in anyway, you’re probably not on DoC and won’t read this comment.
Does paying before statement close ever cause not gaining points in that statement cycle? In other words, is there an issuer who gives you points on whatever shows on your statement?
I don’t think so
4 more hours to procrastinate. yay.
time and time again, i am surprised about the number of people pulling payments for bill pay vs a push. i guess people dont learn about the risks or just too lazy to understand. this new chase policy is totally irrelevant for those who play bill pay offense effectively. SMH.
Discover will need to update this page: https://www.discover.com/credit-cards/compare/?ICMPGN=PUB_HDR_CARDS_COMPARE
For Chase I use the autopay option to not have to worry about this. And for other credit cards pay it well in advance. With such low interest rates it isn’t worth waiting to the last minute and risking late fees
Still not a good idea to wait until last day.. I use Mint, it does the job to keep track of pending bills along with their due dates..
why exactly is it “not a good idea?” (other than repeating received wisdom, typing it out, and presuming the silence will reinforce the non-explanation) I can guess at a half dozen of your likely shallow bromides, but in this day and again when you CAN and WILL get instant verification of payments made, what, again pray tell, is the reasons behind your “not a good idea to wait” claim?
You could have a technology problem, such as internet or the website could be down.
Although I normally pay on the date due or schedule my payment to be drawn on that date, I did have an issue a few months ago where much of Chase’s site (including the ability to make payments) was down the night my bill was due. I paid the next day, and Chase immediately removed the late fee when I explained what happened.
Adding to what kathy mentioned, you could be out somewhere on vacation and certainly do not want be stressed out with pending bills.. there could be lot of other factors including payment sources, payment methods, blah blah
Point is if you can do it earlier, do it, waiting for last day would not anyway going to earn you some free URs, rest is up to you..
I’ve always set my cc payments to be made on the due date or the closest business day before the due date, and my bank has always made sure that they get paid by that date. Recently, though, I had two late payment notices from Amex. I called and the agent noted the 8 pm MST deadline. She reversed the charges because I had never been late before, but now I set Amex payments to the day before the due date.
Never apply to me but good to know.