The Bank of America credit card due date is at least 25 days after each monthly billing cycle ends. Cardholders can find their specific Bank of America credit card due date listed on the monthly statement they receive, as the exact due date differs from person to person, depending on when the account was opened. The statement will also list the minimum amount the cardholder has to pay by the due date, though they may choose to pay more.
More info about the Bank of America credit card due date
Since there is at least a 25-day grace period between the date your statement closes and your Bank of America credit card due date, you can avoid accruing interest by paying the statement balance in full by the due date. If you decide to pay less than your statement balance, you will lose the grace period. The remaining balance will start to accrue interest, and so will all new purchases. To get the grace period back, you will need to pay in full for two consecutive billing cycles.
If you do not make at least the minimum payment due by your Bank of America credit card due date, you will owe a late fee. Bank of America could increase your interest rate, too.
You can make a Bank of America credit card payment online, by phone, through the Bank of America mobile app, by mail or at a branch. To pay a Bank of America credit card bill online, log in to your online account and click on “Bill Pay.” Then, choose how much to pay, when to pay it, and where the payment is coming from. Bank of America does allow cardholders to set up automatic payments, too.… read full answer
Ways to Make a Bank of America Credit Card Payment
By phone: Call 1-800-236-6497 and enter your card information when prompted.
Online: Log in to your online account and click on “Bill Pay.”
Through the mobile app: Log in to your account and select your card, then tap “Make a payment.”
By mail: Send a check or money order (but not cash) to Consumer card payments / PO Box 15019/ Wilmington, DE 19850-5019. Make sure to send it early enough that it will arrive by the due date. Write your credit card number on the check, too.
At a branch: You can make a payment at any Bank of America branch during normal business hours.
The Bank of America credit card late fee is up to $40 for personal cards and up to $49 for business cards. Bank of America charges a late fee if you don’t make at least the minimum payment by your due date. A late payment fee will not exceed the total minimum payment that was due. If your balance is $100 or less on the due date, you will not be charged a Bank of America credit card late fee.… read full answer
Also, Bank of America may waive the late payment fee if it's your first offense. If it's your second offense, you may have to work a bit harder. Just call them and make your case.
With Bank of America business cards, the late fee charged is based on your balance at the time the minimum payment was due. Late fees start at $19 if the balance is $100 or less, up to a maximum of $49 on a balance of $5,000 or more.
In addition to the Bank of America late fee, when you fail to make the minimum payment by the due date you could be charged a penalty APR of up to 29.99%, which will be applied to your current balance. If you miss a payment on a card with a promotional 0% APR, that rate may be cancelled and replaced with the penalty APR. Penalty APRs also apply to new purchases if you are more than 60 days delinquent.
Here are the Bank of America credit card late fees:
Bank of America Cash Rewards: up to $40 maximum for late payments
BankAmericard: $29 initial late fee; $40 maximum for late payments during the following six billing cycles.
Bank of America Premium Rewards credit card: $29 initial late fee; $40 maximum for late payments during the following six billing cycles.
BankAmericard Secured Credit Card: $29 initial late fee; $40 maximum for late payments during the following six billing cycles.
Bank of America Travel Rewards credit card for Students: $29 initial late fee; $40 maximum for late payments during the following six billing cycles.
Business Advantage Cash Rewards Mastercard credit card: $19 to $49 late fee, depending on due-date balance.
Platinum Plus for Business Mastercard: $19 to $49 late fee, depending on due-date balance.
Business Advantage Travel Rewards World Mastercard: $19 to $49 late fee, depending on due-date balance.
In addition to the Bank of America credit card late fee, late payments can lead to your account being in default. And that will result in a negative hit on your credit rating. So make every effort to pay your credit card bill on time.
Send at least the minimum payment several days before the due date to allow for processing. Or, arrange for an automatic debit from your bank account.
To do this, log into Online Banking, select the “Bill Pay” tab, then choose “Go to Bill Pay.” Select “Pay to/Pay from,” and set up your credit card account on the “Pay to” tab. You will need your bank's 9-digit routing number and the account number in order to set up the account.
Make sure there’s enough money in the bank account to cover the payment. If there’s insufficient funds in the account, you may still end up paying a late fee, along with a returned payment fee of up to $29.
The Bank of America credit card grace period is at least 25 days, lasting from the close of the billing cycle to the payment due date. If cardholders pay their statement balance in full every month, Bank of America will not charge any interest.
Keep in mind that you are not required to pay the entire balance by the due date. But if you decide to pay less than the full amount due, you will lose the grace period. The remaining balance and any new purchases on your Bank of America credit card will then start to accrue interest that compounds daily. To get a credit card grace period back, you will need to pay the statement balance in full for two consecutive months.… read full answer
It’s also important to note that grace periods do not apply to cash advances or balance transfers.
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