This may be a very simple question, but can someone confirm the answer?

If my credit card closing date is Nov 11, and the official payment due date is Dec 1, what is the latest date I need to make the payment without getting hit with a late fee?

I always pay electronically on the published due date, but I think I read somewhere here that you actually have more time (up until the next closing date) to pay? Is this true?

I've seen the late fee added to my statements the DAY AFTER the due date. So I don't think there's much leeway.

Not to mention that most CC companies are trying to make a mint off of late fees...

JP

It all depends on the credit card issuer. Many companies are moving to immediate application of late fees, interest, etc.

OP is playing a dangerous game (if you consider getting hit with large late fees and heavy interest charges dangerous to your financial well-being).

While, long ago, credit cards offered "hidden" grace periods which were not disclosed to card users, so, you could be a few days late in getting the payment to the company and still avoid late fees, etc., this is no longer so. CapOne and its predecessors were one of the first to start eliminating the hidden grace period in a successful effort to increase profits by, shall we say, bonking card holders. You may recall that the Providian got hit for half a billion in fines and penalties for lying about when payments were received so that it could get more and more late fees. It was and is, not alone.

There is a reason the card industry fought so hard (and succesfully) aginst a law making the date of mailing the payment date, rather than the date of receipt. The IRS does that, why can't the card companies?

Anyhow, in the old days, it was wise to hold your payments to the last minute, get interest on your funds as long as possible and count on the hidden grace period to CYA. Of course, late fees were $3 then.

Today, IMHO, the best procedure is to pay the bills electronically, at least several days before the due date. The danger of getting hit with huge rip-off fees is just too great.

The only card I am aware of that offers phoney due dates anymore are American Express Charge Cards (not Credit Cards), they show "recommended payment dates", but in fact you just need to pay the bill by the next statement date.

I have set my cards up to 'pay themselves' - electronically. The card company automatically deducts the full balance from my bank account on the due date (exactly). The autopay selection at the card's websites do not give choice of dates. I get email confirmation of the payment being made, and even check the accounts to verify that it's done. Now, here's the interesting part...it takes about 2-3 days for the debit to show up on my bank account. So I get a few extra days interest on the $, the account is paid in full, the card company keeps track of the payment, and I (rarely) think about it. The only thing that 'bugs' me, is the statement might say the bill is $5,325.; but if I've done any returns during the following billing cycle, they are deducted from that $5,325 (say $19.50 return) and the actual payment deducted from my bank account is $5,305.50. This messes up my accounting as I've already 'debited' the $5,325 from my paper records, and don't know the 'real' payment till date paid. It's more an annoyance than a problem, but it still beats trying to remember when payments are due (especially when traveling).

I pay my credit card bills by electronic transfer for a variety of reasons: record keeping, no postage, no envelope licking, no mailing, purportedly less chance of ID theft and, 'cause I'm lazy.

But, I would not enable auto bill pay. I want to carefully look at each bill before it is paid to protect my billing error rights. I have seen too many instances where incorrect or crooked charges have been paid for many months because no one carefully checks out the bills.

I perfectly understand not wanting to use auto bill pay, but making a payment on a credit card bill does not in any way affect your billing rights. However, it is important to review your bill regularly to do so.

IMHO, this is incorrect. Take a look at the Truth in Lending Act and implementing Fed Reg. Z. Paying before raising billing error claims indeed does lose you some rights.

See, for example, http://ag.ca.gov/consumers/general/c...ack_rights.php

"You cannot dispute a charge under "claims and defenses" if you notify your bank after you have already paid your credit card amount down to zero. However, if you have paid off only a portion of your credit card bill, you can still resist payment on the unpaid balance for the charge you are disputing. For example, if the disputed charge was for $300 and your balance on the credit card was for $400 and your payment to your bank was only $150, you can still seek a chargeback for the remaining $250 under the "claims and defenses" category. Unlike "billing errors," whatever you have paid the credit card issuer after the charge appears on your statement which brings the remaining balance below the cost of the charge you are disputing, is not recoverable."

Wirelessly posted (Treo 700p Sprint: Mozilla/4.0 (compatible; MSIE 6.0; Windows 98; PalmSource/Palm-D052; Blazer/4.5) 16;320x320)

That is correct. Amex charge cards must be paid before the next closing date. That is what I almost always do

I stand corrected. I was thinking about billing disputes, which are unaffected by payments.
However, there are other restrictions on claims and defenses, too, as they "cannot be with a merchant who is located more than 100 miles from your home or outside your state of residence." Also, are you going to wait a year to pay just in case you need to dispute a charge under this provision?

I also am not sure I mean what it means to "pay your credit card account down to zero in this context". Although I pay my balance off in full each month, my credit card never has a zero balance, as there are always new charges incurred. Does that affect claims and defenses rights?

I can't honestly believe that most of us do not have 'alerts' set up for our CC's and frequently check on the current balance. I was unaware of the legal details mentioned; however, if fraudulent charges are made, CC's generally limit liability to $50. My CC's are set to alert me to charges over a certain amount, online purchases, balances over a certain amount, etc. and I check my balance frequently. I even call the company's when I'll be outside my 'usual' area, so I don't get a reject on purchases. I'm still comfortable with the autopay generated by the company; but the information above is most appreciated.

On one particularly nasty company that has a habit of 'floating' their due-dates, I use a 'split the difference' plan: use their auto-pay feature for $100 to stave off 'late fees', -and- make a manual payment when I've had a chance to check their numbers.

Not the most elegant method, but they're not dinging me $39 for being a day behind

/.

So why would you do that?

Thanks, I must have read a thread about Amex charge cards then. I have my MC/Visa cards set up with auto-pay to deduct the full balance each month. For my Amex credit (non-charge) cards, I get electronic alerts and then pay them on their due dates.