What Are The Ways to Remember the Credit Card Billing Cycle Date?
Consumers are often at sea regarding the unintelligibility of financial terms. On this point, millennials are better placed than boomers due to their involvement with the post-paid billing system. However, some terms still create confusion among many, and let us deal with one right now.
What is a billing cycle?
A credit card billing cycle is the period succeeding the day on which your monthly bill is generated. Suppose your bill for this month was generated on the 4th, your billing cycle will last from the 5th of the current month to the 4th of the next month.
Billing cycles often vary in duration, but they fall generally between 28 and 31 days. The transactions you make this month are reflected in the credit card statement, and any outstanding amount is carried forward. Try not to keep outstanding amounts to avoid paying overdue charges.
People are also concerned with questions like, “What is a billing cycle due date?” The payment due date generally falls within 20-25 days from the day that the bill is generated. You must positively pay your dues for the month during this time to avoid attracting fines.
As a solution, try setting reminders, downloading reminder apps, marking important dates in calendars, and paying online through the auto-debit feature. Let us get into the details of how to remember the due date of a credit card billing cycle.
Tips to Remember Payment Due Dates
It is easy to forget things owing to busy work life. However, these life hacks might just get you through the ordeal of forgetting important dates.
Make your Payment Due Date Convenient: Credit card billing dates are constant every month, making them easier to remember. However, the case is defeated with bigger problems. It is a common problem that due dates fall towards the early days of a month, and your payday falls on a later day.
You can request your creditor to align the due date with your payday so that it becomes easier for you to commit to memory. This arrangement can be easily done by calling on the customer care number. Letting your creditor know about your problem will also prevent late fines.
Highlight Due Dates on a Calendar: This method is an age-old strategy to remember dates. Highlight important dates on a calendar and place the calendar in a place that you frequent. Once you have got the due date, make sure you mark it on the calendar.
However, if you are not confident about this technique, you can mark the dates in numerous places — pocketbooks, table calendars, sticky notes etc. This way, you might not even need the calendar after a few months. Furthermore, make it a point to pay on the same day every month. Making a habit is one of the sure-fire solutions one can think of regarding remembering payment due dates.
Reminder Mails Can Help: Checking mails is something that most of us do regularly. It can be a good idea to schedule a reminder every month so that you are notified of the event by emails. Make sure that the reminder date is a few days earlier than the due date so that you have enough time to make the payment. Note here that you need to set the reminder with your personal email ID, and not your work ID.
Set Reminders on your Phone: Smartphones have become an integral part of our lives, and it is not fair to leave them out in this case. If the email reminder does not work for you, try setting reminders on your phone instead. The onus here lies with your phone to remind you of the due date.
Auto-Debit Feature: This feature is a fool-proof way of getting your payment through in time. You are aware of this feature if you make payments on OTT platforms. The deal is that you pre-approve the debit amount on your card so that the amount is deducted in a timely manner every month. Make sure you set this date after the monthly bill is generated. However, this method does not consider the fact that you might need to pay less during a particular month. Financial problems are natural, and the auto-debit feature cannot be used to adjust amounts for a particular month. This feature is useful only when you are sure that you will be able to pay the stipulated amount every month without any stress.
Reminder Apps: Downloading reminder apps can help a lot with payments. If you pay your dues with a UPI app, things become easier because you get timely notifications about payments automatically. Make sure you update these apps regularly so that you do not miss the notifications.
Now that you have a detailed answer on what is a billing cycle, feel free to apply for a credit card online, such as the Bajaj Finserv RBL Bank SuperCard. Pay your dues during the credit card billing cycle and enjoy the perks of a 4-in-1 credit card!
Remembering the due date of a credit card billing cycle is crucial to your financial reputation. To make things easier, shift the payment date after your payday. You can try setting reminders on your email or phone, or even mark the date on your calendar. Reminder/payment apps on your phone notify you of due dates in advance. Alternatively, you can apply for the auto-debit feature with your bank to never miss a credit card payment.
