How Quarterly and Annual milestone works?

[newIntern]

I am trying to do some calculations and got a little confused about Quarterly and Annual milestones

Here are my questions:

- Is a quarter always 3 consecutive months? or can some bank also consider 4 consecutive months as quarter? in some offices I saw that they use 4 months as quarter but some use 3 months, so how does it work in banks?

- will the quarter count always start with January, so will Q1 will always be Jan, Feb & Mar ? what if I got my card on 1st match? will Q1 milestone for it be Mar, April, May or will it be same for all card Q1 = Jan, Feb, Mar?

- Same question about annual milestone, will my Annual milestone depend on the card i bought on? suppose if i got my card in November, so will I get 2 months to achieve annual milestone or will it be till next Nov?

- or is it completely different and bank use fiscal year and not calendar year?

 

[Ram1]

I am trying to do some calculations and got a little confused about Quarterly and Annual milestones

Here are my questions:

- Is a quarter always 3 consecutive months? or can some bank also consider 4 consecutive months as quarter? in some offices I saw that they use 4 months as quarter but some use 3 months, so how does it work in banks?

- will the quarter count always start with January, so will Q1 will always be Jan, Feb & Mar ? what if I got my card on 1st match? will Q1 milestone for it be Mar, April, May or will it be same for all card Q1 = Jan, Feb, Mar?

- Same question about annual milestone, will my Annual milestone depend on the card i bought on? suppose if i got my card in November, so will I get 2 months to achieve annual milestone or will it be till next Nov?

- or is it completely different and bank use fiscal year and not calendar year?

It varies bank to bank.
Annual milestone is same for all banks, card issue date to next year same date.

But monthly statements are different like hdfc considers 1 to 30, axis considers statement date to before day statement date.

Same applies to quarterly I guess. I saw in bob they consider jan to mar, apr to june, july to sep, oct to dec

 

[newIntern]

@helloworld do you have some thoughts about this?

 

[helloworld]

I am trying to do some calculations and got a little confused about Quarterly and Annual milestones

Here are my questions:

- Is a quarter always 3 consecutive months? or can some bank also consider 4 consecutive months as quarter? in some offices I saw that they use 4 months as quarter but some use 3 months, so how does it work in banks?

always 3 months. Its banking industry norms, no changes between banks.

- will the quarter count always start with January, so will Q1 will always be Jan, Feb & Mar ?

yes

what if I got my card on 1st match? will Q1 milestone for it be Mar, April, May or will it be same for all card Q1 = Jan, Feb, Mar?

part of Q1 and you've only 1 month to achieve milestone in that quarter, if there are any that card provides as quarterly milestone.

- Same question about annual milestone, will my Annual milestone depend on the card i bought on? suppose if i got my card in November, so will I get 2 months to achieve annual milestone or will it be till next Nov?

annual always 12 months since you got the card, irrespective of card or bank.

- or is it completely different and bank use fiscal year and not calendar year?

its never calendar year or fiscal year. its always card approved + 12 months.


note: for lounges each bank defined their own criteria, above answers are only for credit card quarterly milestones or annual milestone or fee waiver context.

also, for bob and sbi - if you switch cards between that year then

annual fee = old card + 12 months
milestone = new card + 12 months

 

[Axelblaze]

Following for info

 

[helloworld]

Following for info

did I miss something in above?

 

[Axelblaze]

did I miss something in above?

No brother .........

 

[panu24]

No brother .........

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