Chase has sent out an email advising cardholders that they have updated their system to extend the same-day online payment deadline to 11:59pm Eastern Time.
Previously, the cutoff time for online/mobile app same-day payments was 8pm Eastern. It was possible to make a same day payment between 8pm-11:59pm, but it required calling to make the payment over the phone with a representative. Phone payments between 8pm-11:59pm Eastern resulted in a late payment fee posting to your account and later being reversed automatically.
Competitors such as Bank of America, Capital One, Citi, and Discover all allow same-day payments online or via mobile app up to 11:59pm Eastern time. With this change, Chase catches up with the competition. This leaves Barclaycard (7pm Eastern), US Bank (7pm Central time) and Amex (8pm MST) as the major issuers with a payment deadline earlier than 11:59pm Eastern (though in practice I’ve made payments with Amex before midnight and they have always posted same-day and on-time).
While this isn’t a huge change in policy as same-day payments have been possible with Chase until 11:59pm via phone, it’s certainly more convenient to be able to pay in a couple of clicks. I’ve had to call and make a payment over the phone a couple of times when I forgot to schedule my payment before 8pm — I’ll be happy to do it online should that happen in the future.