1. Money

payment due date

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Definition: Your payment due date for credit card or loan is the date on which payment is due. For credit cards, the payment must be received by 5 pm on the due date or you’ll face late payment penalties. If the due date falls on a weekend or holiday (or any other day the card issuer doesn’t accept payments) then a payment made on the following business day is considered on time.

If you miss your payment due date on a credit card or loan, you’ll face late payment penalties which can include a late payment and interest rate increase.

You can find your payment due date printed on your monthly billing statement. If you’ve misplaced your statement and need to know your due date, you can login to your online bank or contact your bank customer service to find out the due date.

 

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