To maximize the use of your credit card, you must know all the terms associated with it, including the billing cycle, which contains the closing day and the payment deadline. Both dates are important because they will guide the purchases and subsequent payments you must make.
It is also known as court day and what happens on that date is that your shopping cycle comes to an end, that is, everything you bought until before that day, will come on your receipt. After the credit card, there are other debts such as vehicular credit (if you have one) or personal loans, whose interest rate is lower but not so much. And what you buy the next day, will come in the statement of the following month. Knowing this date to the right and the other way around is very important because this way you can plan your purchases And what you buy the next day, will come in the statement of the following month. Knowing this date to the right and the other way around is very important because this way you can plan your purchases, so as not to be surprised having to pay high amounts for the card.
It is the last day you have to pay the monthly amount by your credit card. It is important to know because, if you do not pay on time, the charges for the late payment will be added to your account. Also, remember that if you pay for your purchases in a single installment, you will save the interest that is given by deferring them in several payments.
Both dates are key to maintaining a healthy financial life. Do not stop paying attention to them and do not stop checking if you have the card that suits you, remember that there are a thousand benefits that could be waiting for you. Compare them here.