Basic question on billing dates

[pleasegiveltf]

I'm trying to bring get the same billing period for all my cards, but have a basic question.

If a statement is generated on the 13th of each month, are transactions made on the 13th included in the statement? I can easily verify this by making a transaction on the statement generation date for all my cards -- but I have a lot of cards (10!) from different banks and thought I'd ask here. Customer care is very conflicting as well.

Is there any standard here or does this differ from bank to bank? Also - why does ICICI not have end of month (28/29/30/31) or beginning of month (1st) as one of the statement generation date? Customer care said I can only pick what the app shows!

 

[panu24]

I think it's bank policy to have different billing dates for their different credit cards. But they do have some choices that they can offer you. So you have to choose anyone from those dates as your new billing date.

Generally transactions take 3 days to settle. So if you do transaction on statement generation date, then the date of transaction will be used same but considered in next month billing.

 

[TheTrickySid]

I'm trying to bring get the same billing period for all my cards, but have a basic question.

If a statement is generated on the 13th of each month, are transactions made on the 13th included in the statement? I can easily verify this by making a transaction on the statement generation date for all my cards -- but I have a lot of cards (10!) from different banks and thought I'd ask here. Customer care is very conflicting as well.

Is there any standard here or does this differ from bank to bank? Also - why does ICICI not have end of month (28/29/30/31) or beginning of month (1st) as one of the statement generation date? Customer care said I can only pick what the app shows!

The transaction done on the statement/bill generation date is counted in the next billing cycle.

 

[pleasegiveltf]

Thank you! One more question - if I make a transaction on the day prior to the statement generation date and if the transaction is not settled (since it takes a few days to settle), will that also feature in the next month statement or do credit card companies wait for a few days (for transactions to settle) and then make the statement for that month?

I think it's bank policy to have different billing dates for their different credit cards. But they do have some choices that they can offer you. So you have to choose anyone from those dates as your new billing date.

Generally transactions take 3 days to settle. So if you do transaction on statement generation date, then the date of transaction will be used same but considered in next month billing.

 

[panu24]

It will be considered for next billing cycle as the transaction has not been settled. Whatever settled transaction data is available on billing date that is considered for that month statement.

 

[pleasegiveltf]

It will be considered for next billing cycle as the transaction has not been settled. Whatever settled transaction data is available on billing date that is considered for that month statement.

Thanks! This is helpful 🙂

 

[manureddy148]

I'm trying to bring get the same billing period for all my cards, but have a basic question.

If a statement is generated on the 13th of each month, are transactions made on the 13th included in the statement? I can easily verify this by making a transaction on the statement generation date for all my cards -- but I have a lot of cards (10!) from different banks and thought I'd ask here. Customer care is very conflicting as well.

Is there any standard here or does this differ from bank to bank? Also - why does ICICI not have end of month (28/29/30/31) or beginning of month (1st) as one of the statement generation date? Customer care said I can only pick what the app shows!

If u make payment on billing day
It will come in next bill