Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
• # Credit Card Billing Cycle

• For the first-time credit card users, the concept of a billing cycle may seem little confusing. The billing cycle might vary for each of your cards. But the basic calculation followed is similar for most of the banks. Letâ€™s try to understand various factors involved in billing cycle.

## What Is Credit Card Billing Cycle and How Does it Work?

The billing cycle, also called statement cycle, is the period for which the bill is generated. All the transactions conducted during the period will reflect in the credit card statement of the month.

For instance, if the billing date or the statement date of your card is 3rd of every month, your billing cycle would be typically from 4th of previous month to 3rd of the current month. All purchases, cash withdrawals, payments, etc., made during the period will reflect in the statement generated at the end of the billing cycle.

Letâ€™s consider an example of a credit card statement generated on 6th March. It constitutes the transactions conducted between 5th of February to 6th of March. Any transactions conducted after the statement date, 6th March in this case, would be considered in the next monthâ€™s billing statement.

## What is Credit Card Billing Date or Statement Date?

The billing date or statement date is the date on which the statement is generated every month. It typically is the last day of the billing cycle for a given month.

Any transaction conducted on the card post the billing date will reflect in your next billing statement.

In the above example, 6th March is the billing date for the billing period between 5th February and 6th March. Any activity after 6th March will reflect in the billing statement generated in April.

## How is Credit Card Payment Due Date Calculated?

In the simplest of terms, minimum due or minimum payment is the least sum of money that you must pay every month towards our outstanding bill on the credit card. Negative points or late fee charges will not be triggered if you keep making the minimum due payments towards the credit card balance.

## How is the Minimum Amount Calculated

Once you receive your billing statement, you will notice payment due date, on or before which you need to clear your outstanding dues to avoid penalties.

The payment due date is typically 21-25 days after the statement date or post the billing cycle ends. The period between the billing date and the payment due date is the interest-free credit period or the grace period offered by your card issuer. The due date hence depends on the interest-free credit period offered by the credit card.

For instance, HDFC Bank offers interest-free credit period of 20 to 50 days. So, for a HDFC credit card with a grace period of up to 50 days, if the statement date is 5th of every month, the payment due date would be 25th of the same month.

Thus, a transaction conducted in the beginning of the billing cycle will have more grace period, compared to the one which is done at the end of the billing cycle.

However, grace period is not applicable if you have any pending dues from the previous month.

## What is Minimum Amount Due and How is it Calculated?

If you cannot afford to pay the total outstanding on your card for any given month, there is an option to pay a small portion of the due to avoid late payment fee.

The small portion of amount, technically termed as Minimum Amount Due (MAD), is decided by your credit card issuer. You will find MAD for the month in your credit card statement.

Minimum amount due is typically 5% of the total outstanding on your credit card or a fixed amount of Rs.200 to Rs.300, depending on your card policy.

In case, you have any loans on your card, the instalment pertaining to the month will be added to the minimum amount due. In that case, MAD becomes 5% of the outstanding + EMI/s + taxes, if any. Any over limit amount on the card will also be added to the MAD along with unpaid MAD from the previous month/s.

## How Does Credit Card Billing Cycle Affect your Credit?Score?

The billing cycle may not directly impact your credit score, however, missed payments, partial payments, paying only minimum amount due, etc., would significantly impact your credit score.

According to CIBIL, a missed payment can affect your credit score for as long as two years and it reflects on your credit report for up to 36 months. As the card issuers report your credit card account related data every 30-45 days to credit rating agencies, a single missed payment, either intentional or by mistake, would take a toll on your credit score.

## FAQ's

1. Where do I find my credit card billing date and payment due date?
2. You can find your billing date, payment due date, minimum amount due and all other information related to your account in the statement generated every month.

Alternatively, you can also visit your credit card net banking account to access your recent statements.

3. Can I change my credit card billing cycle or billing date?
4. Changing billing cycle or billing date on customer request policy may not be the same for all the credit card issuers. You can call your respective card provider and check for the availability of the option.

5. How to find interest-free credit period of my credit card?
6. You can check your cardâ€™s most important terms and conditions document to know the grace period on your card.

Alternatively, you can also contact the respective credit card customer service helpline to enquire the same.

## Disclaimer

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

## Credit Card Billing Cycle Reviews

• Credit Card
"Best Service"
0.5 3.5/5 "Pretty good"
I have Axis bank credit card which was applied through Bank directly.I am using this credit card for the past 8 months .This was a chargeable card .The credit limit was really good and it was sufficient .I have got this credit card on time and got all the details about the card process.
, vellore
Reviewed on Sep 13, 2019
• Credit Card
"Good Service"
0.5 4.0/5 "Great!"
I am using ICICI Bank credit card which was directly taken through Bank .I am using this credit card for the past 3 years .I have got a very good credit limit and got all the required information about the card process This was a free card .I have not used and checked cash back offers and reward points .
, surat
Reviewed on Sep 13, 2019
• Credit Card
"Good Service"
0.5 4.0/5 "Great!"
I am using HDFC Bank credit card which was directly taken through Bank .I am using this credit card for the past 3 years .I have got a good credit limit and got all the relevant information about the card process.I have not checked cash back offers and reward points .I have not used this card much so far.
, surat
Reviewed on Sep 13, 2019
• Credit Card
"Good Credit Card"
0.5 5.0/5 "Blown Away!"
I have a credit card of Canara bank with life time free benefits, but I am not using it often. The credit limit is sufficient for my transactions, I have been holding this card from 2006 I didn't request for any upgrade on the card because I don't have interets however there is no hidden charges taken from my end.
, panipat
Reviewed on Sep 13, 2019
• Credit Card
"Good Service"
0.5 5.0/5 "Blown Away!"
I came to know about Bank bazaar through Online .This website is really doing a very good service .Customer service is really good and comfortable to me so far .Each and every financial products will be processed in a smooth manner it is really good .I am really satisfied with the service.
, mumbai
Reviewed on Sep 13, 2019
• Credit Card
"Excellent Service"
0.5 5.0/5 "Blown Away!"
I am using Indusind Bank credit card which was applied through Online .This card is having a very good credit limit and also there are reward points as well cash back offers which is really convenient .There was no difficulties faced so far on using this credit card .I am really satisfied with the service.
, mumbai
Reviewed on Sep 13, 2019
• Credit Card
"Good Service"
0.5 5.0/5 "Blown Away!"
I came to know about Bank bazaar through Online .This website is having a better facility to check credit score since it is a free service can check whenever necessary .Whatever the needs it will be fulfilled through this portal .We can get all the information such as loans and credit cards and also update to information will be received when apply for any products.
, pune
Reviewed on Sep 13, 2019
• Credit Card
"Good Service"
0.5 4.0/5 "Great!"
I am using Indusind Bank credit card which was applied through Online .In this credit card will have offers for Shopping and movie ticket bookings which is really good .I have got this credit card on time .The credit limit was 93,000 and it was really sufficient .There was no drawbacks faced while submitting the documents .
, pune
Reviewed on Sep 13, 2019
• Credit Card
"Good"
0.5 4.0/5 "Great!"
I have downloaded Bankbazaar's mobile application. I get to see my updated credit score through Bankbazaar's mobile application. It's very simple and easy to use. I had come to know about Bankbazaar from an advertisement. Happy with their service.
, gurgaon
Reviewed on Sep 13, 2019
• Credit Card
"Good"
0.5 5.0/5 "Blown Away!"
I received my INDUSIND BANK PLATINUM AURA EDGE MASTER CARD. Credit limit is lower than I expected. I was expecting 1 lakh but they have given only 75 thousand. I had received the card on time and annual fee is free.I am getting reward points and offers.
, gurgaon
Reviewed on Sep 13, 2019
• Credit Card
"Good"
0.5 5.0/5 "Blown Away!"
I have been using Bankbazaar's website for the past 8 to 10 months. I used to check my credit score on Bankbazaar's website. Their customer care executives were very helpful. They had provided clear information when I applied for credit card.
, new delhi
Reviewed on Sep 13, 2019
• Credit Card
"Good"
0.5 5.0/5 "Blown Away!"
I had applied an Indusind Bank credit card. I received the card on time. There was no problem submitting the documents. I have got sufficient credit limit.I have received the card on time and it is a lifetime free card. Reward points are good.
, new delhi
Reviewed on Sep 13, 2019
• Credit Card
"Informative Website"
0.5 5.0/5 "Blown Away!"
I am getting more service from Bank Bazaar.com, whenever I approach for any loans, credit card, the service level is satisfactory. The customer representatives are very polite interms of answering my queries. The website is very good to check all information.
, new delhi
Reviewed on Sep 13, 2019
• Credit Card
"Good Card"
0.5 5.0/5 "Blown Away!"
My Indusind bank platinum aura card has the shopping benefits without any yearly fee and joining fee. More over the credit limit is sufficient around Rs.75,000 its enough for me and they do have fuel surcharges for petrol filling at selected partners.
, new delhi
Reviewed on Sep 13, 2019
• Credit Card
"Good"
0.5 4.0/5 "Great!"
I have been using Bankbazaar's website for a while. Their website and mobile application and very user friendly. I have come to now about Bankbazaar.com from the internet. I always check credit score on their website. Customer service was good.
, chennai
Reviewed on Sep 13, 2019
• Credit Card
"Good"
0.5 4.0/5 "Great!"
I have received my YES PROSPERITY EDGE from Yes Bank. Credit limit is good and there is no annual fee.Yes bank customer service was good, I had received the card on time. The features of the card are great. I am getting reward points and cashback offer.
, chennai
Reviewed on Sep 13, 2019
• Credit Card
"Good card for all spends"
0.5 4.0/5 "Great!"
From CITI bank I got reward card, best part I could convert the rewards points into cash and if I use this credit card at Indian oil petroleum they give cash back. This card has life time free benefits, they already gave me sufficient limit hence its fine for me.
, pune
Reviewed on Sep 13, 2019
• Credit Card
"Good for travelers"
0.5 5.0/5 "Blown Away!"
Past 4 years I have been holding HDFC card, earlier I had rewards titanium credit card very recently I upgraded to Regalia card it has yearly fee. They are providing airport lounge facility with travel discounts at make my trip and goibgo. The customer care executives are very helpful but rate of interest is higher for the late fee.
, pune
Reviewed on Sep 13, 2019
• Credit Card
"Satisfactory"
0.5 5.0/5 "Blown Away!"
I appreciate the responsiveness of Bank Bazaar.com, they are more prompt when I approached for the YES Bank card, I got satisfactory service. First time I came the site through internet search then I logged in for the credit card purchase. It would be great if Bank Bazaar provides more offers based on the customer profile.