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Best billing cycle date to manage all credit card
- Thread starter Vicky99
- Start date
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
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.
If billing date is month end, the due date will be after the 10th of next month
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
TF Select
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
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
TF Premier
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.
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.
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
TF Premier
Anyone knows how to change HDFC, Axis CC billing date ? Thanks
girish3456
TF Premier
For call customer care and inform them. They will change it but in a year I think you can change only once
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.
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
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
For me it doesn't matter, whatever set by default. I change my pattern of usage.
RAMESH BABU N
TF Legend
One week BEFORE you get your regular income (salary, pension, stipend, pocket money, interests, rowdy mamools....)
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