Statement Closing Date
GeneralGlossary term
Definition
The last day of the billing cycle when your statement is generated. Charges after this date appear on the next statement. Payment is typically due 21-25 days after closing.
Related terms
- Billing CycleThe period between credit card statements, typically 28-31 days. Purchases made during this cycle appear on the next statement and are due 21-25 days after the statement closing date.
- Due DateThe date by which the minimum payment must be received to avoid late fees and maintain grace period. Typically 21-25 days after statement closing date, as required by law.
- Statement BalanceThe total amount owed on a credit card at the end of the billing cycle. Paying this amount in full by the due date avoids interest charges and maximizes the grace period.
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