Understanding the Importance of Your Credit Card’s Billing Cycle
If used judiciously, credit cards can be great financial tools. They have various advantages, from establishing a credit history to enjoying rewards and cashback. However, one important aspect that tends to go unnoticed is your credit card billing cycle. Understanding it can prevent you from paying interest charges, help you pay bills on time, and make smarter spending decisions.
Let’s break down what a billing cycle is, how it works, and why it matters—especially if you are planning to apply for credit card online.
What is a credit card billing cycle?
A credit card billing cycle is the period between two consecutive statement generations. It usually lasts for 28 to 31 days, depending on your bank. All transactions—purchases, EMIs, payments, refunds—within this period are record...