When someone signs up for a credit card account, they might think the card company chooses the date when you have to pay each month, and there’s no changing that. They’re surprised to learn that, in many cases, it’s possible to can change your credit card account due date. And sometimes, it’s in your best interest to do so.
In this article, we’ll cover some of the most common reasons why you might want to change your credit card’s due date.
1. One Date is Easier to Remember
The first and probably most common reason you’d want to change your credit card’s due date is that if you make all your bills due on the same day, you’re less likely to forget about any of them. You don’t want to fail to pay a bill, especially if you’re in debt.
Perhaps you looked at the debt snowball vs. avalanche payoff methods and chose one or the other. Whichever one you may have picked, you’ll throw off your plans if you can’t keep track of the due dates for credit cards or other bills.
Selecting a particular date when all your credit card bills are due is a great strategy, especially if you’re forgetful. You might pick a date like the 1st of the month, the 15th, or some other day that’s significant to you and you’re sure won’t slip your mind. You can also help yourself by marking that date on the calendar or telling your phone to remind you in advance.
2. Your Paycheck Schedule
Another possible reason to change your credit card due date is to correspond to your paycheck schedule. Maybe you get paid weekly, but it’s possible you get paid only twice, or even once, per month. If that’s true, you might have very little money to put toward a credit card payment unless you change the payment date so that these two events are more in sync.
If you know you get paid on the 5th of every month, for instance, you might arrange to pay all your credit card bills on the 10th. That way, you’ve given your paycheck or direct deposit a few days to clear. You can then budget to pay off your credit card and your other bills.
3. Spreading Out Payments
While some individuals like to pay all their credit card bills on a particular day, you might want to do the opposite. You may feel better about your bills if you stagger them throughout the month. That way, you don’t feel like you’re getting slammed all at the same time.
Maybe you have three credit cards, and you arrange for one bill to be due at the beginning of the month, one in the middle, and one at the end. If you get paid every week, this will probably make more sense for you than stacking the payments all on one day.
Changing Credit Card Payment Dates is Sensible
You control when you open a new credit card account and close one. You can also ask the card company to change their monthly due date, and they will often comply.
If you want to do this, maybe it’s because you feel you can better remember the due payments if you take care of them all on a particular day. Or, you might change the date to correspond to your paycheck schedule, especially if you don’t get a weekly check. You might also stagger your credit card due dates throughout the month if you feel it makes paying them easier.
If you’re interested in switching up your credit card payment schedule, contact your credit card company to inquire about the change. The odds are in your favor.