Step-by-Step Guide Log in to your Online Banking or mobile app account. " Choose a new date that aligns with your pay schedule, keeping in mind the 21-day minimum payment period.
Change Due Date Using the Bank of America Mobile App
Changing the date allows you to time the billing cycle so that large payments post after the statement closes, lowering your reported balance and, consequently, your utilization rate. Due Date Scenario Impact on Cash Flow Impact on Credit Utilization Early in the month Requires immediate allocation of funds from paycheck Higher if large purchases occur before the statement closes Later in the month Allows funds to accumulate, reducing budget strain Lower, as balance has time to reduce before reporting How to Change the Date Online Bank of America provides a user-friendly digital interface that allows you to manage your account preferences without calling customer service.
Look for the "Account Management" or "Billing" tab. What to Have Ready.
Change Due Date Using the Bank of America Mobile App
The Impact on Credit Utilization Your credit score is heavily influenced by your credit utilization ratio, which is the amount of credit you are using compared to your total available credit. Navigate to the "Credit Cards" section and select the card you wish to update.
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