Answers about Credit Card Payments and Late Payments

Why wasn't my online payment credited to my account on the same day I made it?

The general rule is that the payment must be credited as of the date it is received.

The bank may set reasonable requirements for payments, including a cut-off time.  The cut-off time on the payment due date generally must be 5 p.m. or later.  Payments received after the established cut-off time will generally be credited as of the next business day.  If the bank listed reasonable requirements for conforming payments on your billing statement, but accepted a payment you made that did not meet those requirements; the bank must credit the nonconforming payment within five days of receipt.

If the bank promoted electronic payment via their web site, then generally any payments made via the bank’s web site prior to the specified cut-off time would be considered a timely payment.

March 2010