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 .

 

[Virtual King]

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 .

My views on the subject.

Billing Date
I opted for choosing 1st or 2nd of every month as the billing date for all 3 credit cards that I have.

Reason for Opting for 1st/2nd of Each Month as Billing Date.
My rationale and preferences are outlined below:-
* Aligning Billing and Expenditure Cycles. It aligns the credit card billing cycle with the monthly expenditure cycle, making it easier to track the monthly expenses - through credit cards or otherwise.
* Tracking Reward Points (RPs). It precludes any confusion regarding accruing and/or cappings of RPs - whether they are based on calendar month or billing cycle, because if the billing date is on 1st or 2nd of every month then the billing cycle and the calendar month are aligned.
* Monitoring Monthly Expenditure. As the salary gets credited at the end of the month, since I am exactly aware of the impending credit card payments for that month on 1st and 2nd. Accordingly, I can monitor and temper my expenditure for that month.
* Additional Time for Payments. As the bills are generated on 1st/2nd, I get additional 18-20 days more for the payments, which gives me the option of staggering the payments as per my convenience.
* Set Payment Date. I generally keep 17th - 18th as the payment date and pay all my bills in full, thereby exploiting the credit free period of approx. 45 days (i.e. from 3rd of the month to 18th of next month). Also, by having a fixed payment date (generally 2nd Sat/Sun), I do not generally forget the payments within the stipulated time, thereby protecting the credit score.
* No Cash Crises. So, after making all the credit card payments, only about 10-12 days are left for the current month's salary to be credited again, thereby preventing any cash crises.
* Aligning Monthly Expenses with Salary. In effect I use the previous month's salary to pay previous month's credit card expenditure by 17th - 18th of the current month. This helps me retain a clean monthly budgetary expenditure record.

Feel Good Factor
Also, I avoid any major expenditure on 1st and 2nd of every month, so that I can "see" some money in the bank account before the expenditure ball starts rolling relentlessly wef 3rd. This generates a feel-good psychological factor, albeit short-lived. 🙂

 

[RkrRkr is verified member.]

What is the best billing cycle for any credit card

Bit confused what is best
-> Bill generation beginning of month
->Bill generation of mid of month
->Bill generation at end of month

@SSV @vaibhav111 @Rkr @BVC

Need your views and suggestions

As per me its between 01 to 05 in the beginning of month.