Credit Card: If you use credit card of any bank then there is a very important news for you. The Reserve Bank has given a great convenience to the customers. Credit card holders are now going to get relief from the worry of paying their bills. Actually, they will be able to decide their own billing cycle. Generally, the time for bill payment on credit card expenses is 45 to 50 days. But many times, your salary does not come by the time of billing date or your bill date is at the beginning of the month and you are comfortable in paying the bill in the middle of the month. So in such a situation, now you can change your billing date.
Will not be able to set bill date again and again
Financial Advisor Avadh Chaudhary says that the Reserve Bank has not yet issued detailed guidelines regarding this. However, the bank will not give the customers the freedom to change their billing cycle frequently or every month. This may cause financial problems. For this change, customers will have to apply online. Like your credit card limit is one lakh. You spent Rs 30 thousand from March 1 to March 31. Your statement will come on your billing date 1st April. The date for depositing money will be till 15th April. Now you want your billing date to be 20th of every month and you are given time till 5th to deposit the money. So you can set it.
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How will the date be set?
Setting credit card date is quite easy. For this, first of all you have to clear your entire outstanding. Now there are two ways to change the date. Call customer care for a billing cycle or some credit card apps offer this option. Apply directly from there. After getting approval, you can easily start your purchases again through the card.