Understanding A Credit Card's Billing Cycle

Important To Educate Ourselves On Terms Related To The Credit Card

Billing Cycle Includes All Transactions Conducted During A Month

Billing Cycle Begins With The Activation Of Your Credit Card

Includes Purchases, Cash Withdrawals, Current EMIs, And Other Charges

Any Repayments Or Adjustments Like Payment Reversals Are Excluded From Final Bill, Leading To Total Amount

Minimum Payment On Credit Card Means The Bare Amount Needed To Maintain The Account

Minimum Payments Refers To Only A Part Of Total Outstanding Balance And Should Be Avoided If Possible

Going For Minimum Payment Can Raise The Interest Sharply On Remaining Balance

Due Date Is Deadline For Clearing Balance, Is Set For 21-25 Days After The Bill Is Generated

Missing The Due Date Deadline Can Result In Late Payment Fees And Extra Charges