FAQ: When To Pay Credit Card Bill Hdfc?

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What is the billing date of HDFC credit card?

For instance, HDFC Bank offers interest-free credit period of 20 to 50 days. So, for a HDFC credit card with a grace period of up to 50 days, if the statement date is 5th of every month, the payment due date would be 25th of the same month.

What is payment due date in credit card?

The payment due date, as the name suggests is the date by which you need to pay your credit card outstanding every month. The payment due date is set 21-25 days since the last bill was generated.

Do I have to pay extra if I dont pay my credit card bill on time?

If you don’t pay your credit card bill, expect to pay late fees, receive increased interest rates and incur damages to your credit score. If you continue to miss payments, your card can be frozen, your debt could be sold to a collection agency and the collector of your debt could sue you and have your wages garnished.

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Can I pay credit card bill in parts before due date?

At a minimum, you should pay your credit card bill before its statement due date. You can never pay your credit card too early, but be sure to check the statement period to which your early payment will be credited.

Can I pay HDFC credit card bill before due date?

Remember, the payment made should get credited in your credit card account on or before the due date to avoid charges and penalty, subject to the grace period, if any. For a healthy credit profile and to keep the credit score high, make sure not to roll over the outstanding balance on to the next month.

How do I know my billing cycle of HDFC credit card?

How to Get HDFC Credit Card Statement through Net Banking

  1. Once registered, click on the “ Cards ” tab and select “View Statement” from the “Enquire” section.
  2. Select the HDFC credit card for which you want to view the statement, enter the statement period and click on the “View” button.

How many days before due date should I pay my credit card?

Here’s how it works. The statement closing date ( the last day of your billing cycle) typically occurs about 21 days before your payment due date. Several important things happen on your statement closing date: Your monthly interest charge and minimum payment are calculated.

What is the late payment charges for HDFC credit card?

HDFC Credit Card Late Payment Charges For Non-payment Of The Minimum Amount Due

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If the statement balance is Late payment charges
Between Rs.100 to Rs.500 Rs.100
Between Rs.501 to Rs.5,000 Rs.400
Between Rs.5,000 to Rs.10,000 Rs.500
Above Rs.10,000 Rs.750

Is it bad to pay your credit card bill on the due date?

At the very least, you should pay your credit card bill by its due date every month. But in some cases, you can do yourself a favor by paying it even earlier — whenever your credit utilization gets close to (or exceeds) 30%.

Is it bad to pay your credit card twice a month?

Making all your payments on time is the most important factor in credit scores. Second, by making multiple payments, you are likely paying more than the minimum due, which means your balances will decrease faster. Keeping your credit card balances low will result in a low utilization rate, which is good for your score.

What happens if I overpay my credit card balance HDFC?

When you overpay your credit card bill, it remains in your credit card account which can be used for future purchases. However, if you want to claim a refund, you will have request it in form of writing or contact the customer care over phone for refunding.

Should I leave a small balance on my credit card?

Leaving a low balance each month increases the utilization rate, though a few extra dollars won’t hurt it too much. The best utilization rate is 30 percent, meaning you’re not carrying a balance of more than 30 percent of your credit limit on one card or in total. Lower balances will improve a credit score.

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Can I pay credit card bill multiple times?

Yes, you can make the payment for your credit card bill on a daily basis as well. It is not necessary for you to make payments only once a month. However, please note that regardless of how many times you make payment in a month, you need to make payments on time to avoid paying a late fee.

Can I pay my credit card the same day I use it?

You have the right to make a credit card payment at any time. Once your billing cycle closes, there is usually a grace period of 21 days or more until your due date, during which you can pay off your purchases without incurring interest. You’re completely allowed to use your credit card during the grace period.

Can I pay credit card bill in parts?

As long as you pay at least the minimum amount listed on your statement, you can make part payments on your credit card. This could be the minimum amount listed on your credit card statement (usually around 3% of the total owed), or any amount above the minimum.

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