A closed date in the travel world is the last date an available service, such as a discounted hotel room or airline promotion ends. In the real estate world a closed date is the date you close on a home purchase, meaning the title is transferred to your name and you now own the home. On Wall Street the closed date is known as the last date to secure stocks for sell, trade or to buy.
We’ll stick with the most common closed date definition and that pertains to your own personal financial world as it relates to your bills. Knowing the differences between a closed date, closing date, a statement closing date and a book close date will help you in maintaining your finances.
To begin with, do not confuse a closed date with the closing date. A closed date means the date your account was closed whereas the closing date is the last date of your billing cycle. A closed date should also not be confused with the statement closing date or the book close date; the due date is generally different for both.
Again, a closed date is the date that an account has been closed. The account is no longer open when you are provided a closed date and you typically no longer have access to the account.
A statement closing date will be the last date of your monthly billing cycle and is used to determine the amount that is due and what date it is due on the next upcoming statement while the book close date will be the cut-off date of the billing cycle and will help ensure you are not missing due dates or becoming late on your bills.
Any purchases made after the statement closing date just means that the purchase will not show up on your statement until the next billing cycle.
Knowing your statement close date and also what accounts show a closed date will help manage your finances and keep you in good standing where credit is concerned.