Your statement cycle is one month, and after that period, you have one additional statement cycle to pay your statement balance. So technically, your statement is due two statement cycles after the first day of your statement start date and one statement cycle after the end of your statement period.

Let's say your statement date begins on the first of the month. You spend $100 during April, and now it's the middle of May and you've spent an additional $200 on your card. Even though your balance is currently $300, your statement balance is only $100, because it's the total you spent during your statement cycle in April.

You have an additional 30 days after your statement cycle ends to pay that $100, so you have $100 due by May 30th.

If you end up only paying a portion of that $100 (say $70) by the end of May, the remaining $30 will get tacked on to your May statement balance, which is due by the end of June (or 30 days after the statement end date). You will pay interest on that $30 because you didn't pay the entire statement balance by the statement due date.

If you do not pay your entire statement balance before the statement due date, you will incur interest. If you do not pay the minimum payment listed on your statement, you will incur a late fee.

For Rocket Visa Signature Card, check out our cardholder agreement for more details.

For Rocket Card (Rocket Money credit card - formerly Truecard), check out our cardholder agreement for more details.

Rocket Card and all Rocket Visa Signature Cards are Powered by Deserve and issued by Celtic Bank.