The billing date and repayment date of a credit card are two key dates in the use of a credit card, and they each bear different responsibilities. To put it simply, the billing day is when the bank summarizes and settles your credit card consumption, fees, etc. every month, calculates the total repayment for the current period, including interest, and then sends you a bill on this day. For example, if your statement date is the 1st, the bank will tell you the consumption details of this month and the amount you need to repay on the 1st of each month.

In contrast, the repayment date is the day when you must meet your repayment obligations. The bank sets a final repayment period during the period after the bill date, that is, you must pay off the entire cost of the previous bill before this day. Taking the previous example, if the bill date is the 1st and the repayment date is the 20th, then you should repay the November consumption in full before the 20th.

If you fail to repay the loan in full and on time after the repayment date, the consequences may be serious. First of all, you will lose the qualification to enjoy the interest-free repayment period. The bank will calculate interest at a daily interest rate of 5/10,000 starting from the day of consumption, and compound interest on a monthly basis. Secondly, you may receive demand calls and letters from your bank. What's more serious is that late payments will be recorded on your credit report, which will have a negative impact on your personal credit. If you really cannot repay in full in the short term, choosing the minimum repayment amount is also an option. Although there is no interest-free period, it can avoid damage to your credit record.

In general, the statement date is the date of bank settlement, and the repayment date is the deadline for repaying the debt. Both are crucial for credit card users. Manage these two dates properly. , in order to avoid unnecessary financial troubles and credit risks.