Originally Posted by
flyer4512
If he changed it to the 5th I would think it would close December 5th. I don't see a bank giving a person ~ 10 weeks interest free to make a payment after the first statement cuts.
If his last statement closed 11/15/17 and they made the new closing date 1/2/2018 you could make charges on 11/16/2017 and not pay them until late January 2018 and accrue zero interest.
If that works I bet a lot of people would love to know as they could extend the time to pay interest free.
You're over thinking this. If he does nothing, he will have a statement closing on Dec 15. If he has it changed and the next one closes on Jan 2nd, he will extend his statement by about 2 weeks. He will still have a payment in December based on his November statement.
Anytime I've changed a payment due / statement end date, it has extended my current billing cycle. Not saying it can't shorten it, but I've never had it happen.
As far as the extended intrest free period, it would only last one billing cycle anyway. After that, ts business as usual.