Best billing cycle date to manage all credit card

[Vicky99]

Please share your best billing cycle date . Some people says 25-28 is the best some says 1-5 is the best . Which is the best date as most bank reports to cibil on month end .

 

[amit]

I will prefer bill due date on as Cibil report date.

 

[007]

Please share your best billing cycle date . Some people says 25-28 is the best some says 1-5 is the best . Which is the best date as most bank reports to cibil on month end .

As most banks (except ICICI, SBI and Amex) report at month end so try to keep the bill due date before that.
For others you can try to get it changed so that the bill due date falls close to month end. This will help you in managing if you have multiple cards.
Refer this for more info:

What's your credit card(s) bill generation date? Is it random?

Is it possible to have a bill generation date of our own choice? If yes, then can we do it with every bank? I was thinking to have a common date on all of my cards so that I could know when I have to pay plus how much my total credit card expenses are going. What about you all? :D

www.technofino.in

 

[TheTrickySid]

Please share your best billing cycle date . Some people says 25-28 is the best some says 1-5 is the best . Which is the best date as most bank reports to cibil on month end .

28th of every month is a sweet spot.

Reason is as some banks report credit utilisation to CIBIL on 30/31 and some on Billing date.
So if the date is kept on 28th no need to remember the credit utilisation reporting date for each card.

Just bring down the utilisation by paying dues above 30% of credit limit before every month end.

 

[amit]

Those who are live on salary to salary basis and their salary date is in between 1-7th of a month, they prefer due date after salary date. they dont care of utilization ratio.

 

[TheMentalist]

Those who are live on salary to salary basis and their salary date is in between 1-7th of a month, they prefer due date after salary date. they dont care of utilization ratio.

If billing date is month end, the due date will be after the 10th of next month

 

[theneerex]

I prefer the 1st/2nd of every month because it makes it easier to keep track of my monthly expenses. I can just look at my credit card bills and calculate my expense.

I have one card set to 15th of every month though

 

[Karthik:]

I don't care about billing date but only about the gap between the various cards we have. I have 3 credit cards. Have chosen the billing date in such a way that time gap is 10 days between each card. So, always at a point in time there will be CC which gives maximum credit period. I use that card or the card which gives max rewards. It's better to have a billing date on month end or 28th as many have suggested. Others with a proper gap. It's not a great idea to have CCs with same billing date.

 

[purushotham]

Mine
3 banks on 1st
3 banks on 16 th

So 15 days half month gap is there between them and billing date of 3 banks match with due date of other 3 cards .

Credit utilisation ratio not a big issue to me

 

[Maikalal Jaikishan]

I don't care about billing date but only about the gap between the various cards we have. I have 3 credit cards. Have chosen the billing date in such a way that time gap is 10 days between each card. So, always at a point in time there will be CC which gives maximum credit period. I use that card or the card which gives max rewards. It's better to have a billing date on month end or 28th as many have suggested. Others with a proper gap. It's not a great idea to have CCs with same billing date.

I do not spend money that I don’t have already. I use credit cards for the purchase protection (in theory at least) and the rewards/cash back etc. Never as a “loan”. I have the same day set for all my cards because I am never in a situation where I’ll need a line of credit.

 

[raghumahajan]

ICICI Amazon Pay - 16th - First card - never changed
HDFC Millenia - 2nd - Second Card - so put a 15-day gap to maximize bill payment time, also rewards capping are calculated on calendar months. (P.s HDFC didn't allow to set statement date from 30th to 1st)
SC credit card - 2nd - same reward calculation for capping
Axis Airtel - 12th - My most utility bills are generated between 10th to 20th

Best to have a spread if reward points are equal.
Set the start of the month for better reward points calculation.
Set the start of the month to get due dates around the 15th-20th, so I have ample time to pay after getting the salary.

 

[lightwaves]

Anyone knows how to change HDFC, Axis CC billing date ? Thanks

 

[girish3456]

Anyone knows how to change HDFC, Axis CC billing date ? Thanks

For call customer care and inform them. They will change it but in a year I think you can change only once

 

[lightwaves]

For call customer care and inform them. They will change it but in a year I think you can change only once

Great, Thanks !!

 

[bhaveshS]

I prefer 16-20 bill generation date

 

[Karthik:]

I do not spend money that I don’t have already. I use credit cards for the purchase protection (in theory at least) and the rewards/cash back etc. Never as a “loan”. I have the same day set for all my cards because I am never in a situation where I’ll need a line of credit.

Yeah, the best practice is to spend the money you have. That's what I am also saying. If you consider the opportunity cost i.e. the interest part, what I said will make more sense. Longer the interest free credit you get and later the due date, you enjoy interest on your funds. That's why it's always better to spend using credit card with even zero reward than using your debit card.