The billing date and repayment date of the credit card are not the same day. The billing date means that the card-issuing bank will regularly summarize and settle the various transactions and expenses that occurred in your credit card account every month, calculate the interest, calculate your total arrears for the current period and the minimum repayment amount, and send you a Statement. This date is your credit card statement date.

The repayment date refers to the interest-free repayment period, which varies according to the regulations of each bank. The shortest is from the bill date to the last repayment date, and the longest is from the day after the bill date to the last repayment day of the next month. If the bill date is the 1st and the final payment date is the 20th, the minimum is 20 days and the maximum is 50 days. The billing date of a credit card is a summary of how much the cardholder spent in the previous consumption cycle. The credit card repayment date is the total amount of money that the user must repay on this day. It cannot be overdue when returning it, otherwise penalty fees will be incurred and personal credit records will be affected. The repayment date is generally around the 20th day after the statement date, and may vary from bank to bank. If the user does not have the ability to repay in full on the repayment date, he or she can use installment repayment or the minimum repayment amount. These two repayment methods can effectively reduce the monthly repayment amount of the cardholder.

When using a credit card for installment repayment, the handling fees charged for different installments are different. Cardholders generally choose the appropriate number of installments based on their income, which ensures on-time monthly repayments, and they can repay in advance when their personal funds are sufficient, thus saving handling fees.

Credit cards that use the minimum repayment cannot enjoy the interest-free period. All purchases will be charged interest from the date of consumption until the user repays all outstanding balances. It should be noted that installment repayment or minimum repayment amount will occupy the credit card limit, which will be affected when subsequent card purchases are made.

Knowledge expansion:

For Agricultural Bank of China, the 10th of each month is the billing day and cannot be changed.

China Merchants Bank and China Merchants Bank credit cards currently provide statement dates on the 5th, 7th, 10th, 12th, 15th, 17th, 20th, 22nd and 25th of each month. Change every six months.

For Bank of Communications, the monthly statement date is generated by the system. It can be changed once during the validity period of the card, and the date is from the 6th to the 24th.

For CITIC Bank, modifications must be made within the first eight days and the last eight days of the original statement date, and cannot exceed 20 days.

For China Everbright Bank, the 1st, 5th and 18th of each month are the billing days and cannot be changed.

For China Construction Bank, the billing days available include the 2nd, 5th, 7th, 10th, 12th, 13th, 15th, 17th, 19th, 22nd, 23rd, 24th, 25th, 26th and 27th of each month. Revised every calendar year.