Do credit card companies make money by having a closing date later than the payment due date?

I know the math to this probably is simple but I can't figure it out. Please help.It irks me to try to set up payments in advance and not be able to do it until after the closing date. Asked by tinkerjack 35 months ago Similar questions: credit card companies make money closing date payment due Business > Financial Planning.

Similar questions: credit card companies make money closing date payment due.

No. The closing date should be after the payment date. Credit card companies make money by charging vendors a sliding scale fee (the more purchases on our brand, the less you pay...usually a max of 3%) and also by the interest and fees accrued by card holders.

If you pay your balance in full on a monthly basis, and by the due date, you won't pay interest or late fees.

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Can a credit card company cancel a card and refuse to accept a payment of the entire balace due.

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