late credit card?

Question

Ok, my credit card payments are due on the 25th of each month. Now i wanted to know at what date before the 25th if i where to buy somthing, it would not show up as being late. Say i buy somthing before the 25th, they WILL NOT add the payment to be due for that perchase on the 25 of this month but next month. What im asking is how many days before the payment is due will they charge me a purchas for next month but not this month.

And another question, how bad is it to be late on a credit card for about 2 weeks on say about $150 dollars?

Answer 1

It can take anywhere from 0 minutes to 5 or more days for a new charge to appear on your credit card. In MY personal experience, my charges show up about 2 days after the purchase. So if the closing date is the 25th, anything purchased after the 23rd typically appears on the next billing period.

This shouldn't matter to you if you are carrying a revolving balance (paying interest) because your interest is computed from the posting date, not your billing date. The only reason for timing purchases are either to have a smaller balance for the current billing period, thus lowering your minimum due. Keep in mind that if you are carrying a revolving balance, your minimum due goes up by only 2% of the purchase. So if you buy a $500 items, your minimum due increases by just $10. If your budget is that tight, you shouldn't be making the purchase.

If you do NOT carry a revolving balance -- you pay your bill in full every month -- timing is very helpful because it keeps those big ticket purchases away from your current statement and tends to even out your monthly bills.

2ND ANSWER:
It is always bad to pay late. You will be assessed typically $35 in late fees. The interest rate on ALL of your credit cards may go up to the default rate of roughly 25%. If your payment is less than 30 days late, it probably will not be reported to the credit agencies. However, your interest payments on all credit cards could skyrocket for just one late payment.

Answer 2

It depends. On your previous credit card statements, there should be a closing date (or a start and end date). The date will be approximately the same each month. You can call the credit card company and ask how the closing date is calculated. (It may be as simple as the exact same date each month.)

If you're late on a payment, they will charge you a late fee and interest. They'll usually take off the late fee if you call them and ask.