Each month, your MAJORITY Visa® Credit Card follows a billing cycle that determines what purchases are included in your statement and when you must pay.
What is a billing cycle?
A billing cycle is the period of time (usually about 30 days) between your credit card statements. During each billing cycle, all the purchases you make are added to your balance. At the end of the cycle, you receive a statement showing your total balance, statement balance, minimum payment due, and payment due date.
Example: If your billing cycle runs from January 1 to January 31, your statement will include all purchases made during that time. You'll receive your statement in early February with a due date later that month.
What is a payment due date?
Your payment due date is the date by which you must make at least your minimum payment to avoid late fees and potential negative marks on your credit report. This date is the same each month and is listed on your monthly statement.
Tips:
Pay on time every month to build positive credit history
Paying your statement balance by the due date helps you avoid interest charges
When is my payment due?
Your payment is due on the same date each month, which is shown on your monthly statement. You can also find your payment due date in the MAJORITY app under your credit card account. Payments must be made by 10:00 PM EST on the payment due date to avoid fees and interest.