Just Changing Your Card Payment Date Can Help You Save... Hidden Tips for Payment Dates [Jumoney Talk]

Reasons Why the 14th Is a Popular Credit Card Payment Date
Easier Management of Spending and Card Performance
Consider Your Spending Patterns Before Choosing a Payment Date

Editor's NoteWe now live in a time when a single serving of samgyeopsal costs 20,000 won and a bowl of jajangmyeon is 7,500 won. The 2024 Consumer Price Index stands at 114.18 (2020=100), and in 2025, the burden on consumers' wallets has continued to grow due to persistently high prices. Through the "Jumoney Talk" (Week+Money+Talk) series, we aim to share stories about consumption closely tied to our daily finances, as prices fluctuate rapidly.

While credit cards are convenient to use, they come with the drawback of making spending management more difficult. For this reason, many people choose debit cards instead of credit cards. However, simply setting your payment date wisely can allow you to manage your spending more systematically, which is also advantageous for asset management. This is especially important for young adults new to the workforce who are concerned about overspending with credit cards; they should pay particular attention to setting their payment date.

Credit Cards Are the No. 1 Payment Method... Managing Payment Dates Is Also Important

According to the "2024 Survey on Payment Methods and Mobile Financial Service Usage" released last month by the Bank of Korea, credit cards are the most commonly used payment method in everyday life. In terms of the number of transactions by payment method, credit cards accounted for the largest share at 46.2%, followed by debit cards (16.4%), cash (15.9%), and mobile cards (12.9%). By age group, credit cards were also found to be the most preferred payment method across all generations.

The payment date of a credit card, which has become a standard payment method in daily life, is important. The payment date refers to the day you repay the used amount to the card company, and you can select this date when you receive your card. Many people choose their payday or the day after as their payment date, intending to pay off their card bill as soon as their salary is deposited to avoid late payments.

However, this approach can be disadvantageous from a spending management perspective. For example, if your payday is the 25th and your payment date is the 26th, the amount billed on that payment date typically covers spending from the 15th of the previous month to the 14th of the current month. Since the billing period does not align with the entire month, it becomes difficult to get a clear overview of your monthly spending patterns.

It also complicates the management of card performance. Most card companies calculate benefits such as discounts, points, and cashback based on the amount spent from the 1st to the end of the previous month. For example, you may need to spend more than 300,000 won in the previous month to receive benefits the following month. However, if your payment date does not match the period used by the card company to calculate performance, it can cause confusion for consumers.

Why the 14th Is Recommended as the Payment Date... Easier Spending Management

To reduce this confusion, it is important to set your payment date strategically. Aligning your credit card payment date so that charges reflect spending from the 1st to the end of the previous month makes it much easier to manage your monthly spending. While billing criteria may differ slightly between card companies, generally, setting your payment date between the 13th and 15th of the month ensures that the total amount spent during the previous month is billed at once. Specifically, if you set your payment date as follows: ▲Hyundai Card on the 12th, ▲Hana Card and BC Baro Card on the 13th, ▲Shinhan, Lotte, KB Kookmin, Woori, and NH Nonghyup Card on the 14th, ▲IBK Industrial Bank Card on the 15th, your statement will reflect spending from the 1st to the end of the previous month.

Setting your payment date wisely not only helps with simple spending management but also offers advantages in terms of asset management. Credit cards come with a "grace period," which is the time from when you make a purchase to when you actually pay the bill. For example, if you make a purchase at the beginning of the month and your payment date is the 14th of the following month, you could have up to 45 days before you need to pay your credit card bill. If you deposit your surplus funds in a parking account during this period, you can earn a small amount of short-term interest. Simply changing your payment date can make a small but meaningful difference not only in your spending flow but also in your cash management.

If you use multiple credit cards, unifying the payment dates for all your cards is also a good strategy. If payment dates are scattered throughout the month, you may have to make several payments, complicating your cash flow management. By aligning the payment cycles of your cards, you can much more easily track your monthly spending and manage your card performance.

However, before selecting a payment date, you should consider your cash flow. For example, if you set your payment date close to your payday, you can pay your bill on time and reduce the risk of late payments. Conversely, if you experience cash flow problems and miss a payment, your credit score could be negatively affected, so caution is needed.

Meanwhile, if your card payment date is set awkwardly, you can usually change it fairly easily through your card company's website, app, or customer service center. There are some points to keep in mind. During the process of changing your payment date, some charges may be billed earlier, which can result in you having to pay your card bill twice in the same month, causing a temporary cash burden. In addition, most card companies restrict further changes to the payment date for at least 60 days after a change, so it is advisable to make this decision carefully with adequate planning.