Mobills simulates the real behavior of a traditional credit card and all of its features of limit, invoice, closing dates and expiration dates. Sometimes it's confusing to differentiate these dates that your credit card features, but we can help you to understand the difference between them:
- Closing Date: This is the day that your invoice changes from open to closed status. After that day, the expenses will be added to the next open invoice, which is usually the following month.
Usually, it's not possible to take any action on an enclosed invoice, but on Mobills App we allow you to edit your invoice the way you want, even if it's closed. If you forget to add information after the closing date, or if the card operator changes any entry to another invoice at the time of closing.
- Due Date / Payment: This is the maximum day that your invoice can be paid without any penalty or rate. This day is always after the closing date of the invoice.
The full invoice payment closes it definitely and doesn't leave any pending expense. In fact, it' no longer possible to perform actions on this invoice, but on Mobills we give you the freedom to edit it the way you want, being able to even undo an invoice payment, if necessary.
Some credit cards allow you to do invoice payments in advance before the closing date, but the invoice doesn't get closed with this kind of payment. To learn how to do this in Mobills, please read the article: Credit Card: Differences between partial payment, prepayment, total payment.