We cannot move payment dates for lines of credit, due to the structure and terms of this product. If you have a line of credit and need to discuss your payment options, contact your Client Advisor at 855-846-0153.
For loans, you have two options for changing your payment date:
- Change the date for your next payment only
- Permanently move your monthly payment to a different day of the month
Note that changing your payment date for a loan can affect the amount of interest you pay in your next payment. See How changing your loan payment date affects your interest payments below for more information.
Changing the date for your next loan payment only
If you’d like to change just your next loan payment, contact us at firstname.lastname@example.org or call us at 855-846-0153 at least three business days before your next payment is due.
Permanently moving your loan payment date
You can permanently move your loan payment to a different day of the month one time during the term of your loan by following these instructions. If you have already permanently moved your payment date and want to move it again, contact us at email@example.com.
How changing your loan payment date affects your interest payments
Interest accrues on your loan daily, so changing your payment date can affect the amount of interest you pay in your next payment.
For example, if you move your due date five days later in the month, your next payment will be slightly higher to cover the interest accrued during those five extra days. After that, your monthly payments will return to the original contractual amount.
If you do the opposite and move your due date five days earlier in the month, your next payment will be lower and include less interest because the payment is early. After that, your monthly payments will return to the original contractual amount.
Keep in mind that we calculate interest based on when we receive your payment. If you change your payment date on a weekend or holiday, the change won’t be processed until the next business day.