By default, a member's subscription renews on the same day each month they signed up. An anchor date changes that, so every member is billed and receives perks on the same day each month, no matter when they joined.
This is most useful for clubs where billing should line up with a delivery schedule, like a vinyl-of-the-month club.
How to set an anchor date
In the Terms section of tier creation, find the Renewal Date dropdown.
Select Anchor Date (Advanced).
Two fields appear: Anchor Date (ET) and Anchor Time (ET).
Enter the date and time you want all memberships to renew.
Note: Members are always billed right away when they join. The anchor date only controls when they're billed next.
How anchor dates affect billing
It depends on whether a member joins before or after the month's anchor date.
Joins before the anchor date: billed right away at purchase. When the first anchor date arrives, they aren't billed again, since they already paid for the current month.
Joins after the anchor date: billed right away at purchase. On the next month's anchor date, they're billed again. That's their second term.
Anchor dates with physical perks
When a tier has both an anchor date and an automated physical product perk, the billing logic makes sure members are only charged for months they actually receive a product. This is what keeps a vinyl club's billing aligned with shipments.
When members are billed and when they get a perk depends on two things: whether the current month's product is in stock, and whether they joined before or after the anchor date.
If the current month's product is in stock:
Billed right away at purchase, and they get the first product immediately.
On the next anchor date, they get the next month's product and are billed for that month.
If the current month's product is out of stock:
Billed right away at purchase, but they don't get the first product, since it's sold out.
On the next anchor date, they get the next product and aren't billed, since they already paid for a month without receiving a product.
Example
Say your anchor date is the 5th. A fan who joins on the 1st is treated like a presale: billed right away, but they don't get the product until the anchor date on the 5th.
The short version
Members who join after the anchor date may miss the current month's product if it's out of stock. In that case, they're effectively signing up for next month's product.
This keeps billing and product delivery aligned, which is why it works well for "of the month" style clubs.