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The difference between credit card statement dates and the due date

Every credit card has two statement dates. The opening date and the closing date. Everything between these dates is called the billing cycle and once the cycle ends (statement closes), everything that's happened on the credit card will be added to the new statement that'll be due about 25 days after it closed. Make sure to pay at least the minimum on your credit card by the due date to avoid penalty APR or late payments on your credit report.

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