It took me a couple of minutes to find a site that I could source for this.
The card is valid until the last day of the month indicated, after the last [sic]1
day of the next month; the card cannot be used to make a purchase if the
merchant attempts to obtain an authorization.
– Source
Also, while looking this up, I found an interesting article on Microsoft’s website using an example like this, exec summary: Access 2000 for a month/year defaults to the first day of the month, here’s how to override that to calculate the end of the month like you’d want for a credit card.
Additionally, this page has everything you ever wanted to know about credit cards.
- This is assumed to be a typo and that it should read “…, after the first day of the next month; …”