ELi5: Why do credit card and some bill payments take 1-3+ days to be taken from my account, and how is that allowed? Due Date ≠ Date Due?

Question

ELi5: Why do credit card and some bill payments take 1-3+ days to be taken from my account, and how is that allowed? Due Date ≠ Date Due?

In: 3

Answer 1

>ELi5: Why do credit card and some bill payments take 1-3+ days to be taken from my account, and how is that allowed? Due Date ≠ Date Due?

Well… that’s what a credit card *is*.
Not you but your **bank** (immediately) pays whatever credit card transaction you conduct. They then keep track of the amounts and deduct them all at once from your credit card’s account in regular intervals, usually 30 days.