It’s important to understand the billing cycle and payment dates when using a credit card. Banks allow you to change the billing cycle, which makes it easier to manage cash flow.
Mumbai: Whether it is an employee, a businessman or a newly employed youth, the number of people using credit cards or Bajaj Finance cards is increasing day by day. Some people cannot make a large payment at once, so they pay little by little through credit cards. Some people use credit cards to improve their credit score. It was easy to get a loan with a good credit score. However, the problem we face while using credit cards is the billing cycle.
It often happens that after paying the bill, the bill is generated again within 15 days, so in such a case, you should know your bill cycle and payment date. Look at the date on which you get your salary or receive money. The billing date, payment date and salary date should be in harmony. So, you should take care of this.
A credit card cycle is usually 30 days. It is calculated from the date of the last statement. That is, 30 days are counted from January 13 to February 13. The final date for paying your bill will usually be about 20 days after the end of the cycle. Only by looking at these dates carefully can we understand the difference. This will help us understand how your bill matches up with the timing of your income and other expenses.
Change your billing cycle based on how much money you have. Most banks allow you to change your credit card billing cycle. You can easily do this by talking to a customer service center or through your online banking platform. Call your credit card issuing bank and request a billing cycle change. Explain to them that you want to set your billing cycle to match your payday to manage your cash flow better.
Some banks also offer the option to change your billing cycle through their mobile app or website. For this, they provide options like Manage Cards or Billing Options online. By going there, you can request to change your billing cycle and update it accordingly. Once your request is accepted by the bank, the billing cycle will continue as before until this change is made. Make sure that there is no overlap between the new and old cycle, otherwise there is a risk of additional charges being levied on it.
