Answers about Credit Card Payments and Late Payments

This month my due date falls on a Sunday. I mailed my credit card payment and it has not arrived there yet. If the payment is received on Monday, will it be considered as late?

If your payment due date falls on a weekend or a holiday when the lender does not accept or receive mailed payments, any mailed payments received by the lender before the cut off time on the following business day will be considered timely.

For example, if you mailed your payment via US Postal Service and the due date is Sunday March 14th, but the lender does not receive mail on Sundays, then your postal payment would be considered timely if it is received by Monday, March 15th, before 5 p.m.

However; it is important to note that:

  • If the bank accepts or receives payments made on the due date by a method other than mail, such as an electronic payment; and
  • You make your payment electronically;

Then your electronic payment must be received by the bank by the cut-off time on the due date (Sunday, March 14th) in order to be considered timely.

March 2010