Consumption before the billing date will be repaid on the first repayment day after the billing date, and consumption after the billing date will be repaid on the next repayment day.

There are two very important dates for credit cards, one is the billing date and the other is the repayment date. The billing date is the date when all consumption in the current period is finally billed, and the repayment date is the date when you must repay the current balance. Based on these two dates, the interest-free repayment period of the credit card cycle can be determined, which can be as short as 21 days and as long as more than 50 days. Let’s look at the explanation of the terms below.

Credit card billing date

The billing date is generally called the billing date. The credit card billing date refers to the card-issuing bank. It will regularly check your credit card account every month for various events that occurred in the current period. The transactions, fees, etc. will be summarized and settled, and interest will be calculated. The total amount owed and the minimum repayment amount for the current period will be calculated, and a statement will be mailed to you. This date is the billing date, also known as the billing date.

Credit Card Repayment Date

The repayment date refers to the last date on which the credit card issuing bank requires the cardholder to return the amount due.