Impact of Credit Card bill payment on different date after Bill generation

[itsds]

Hello Community,

I would like to know that does it make any difference from the bank's perspective if we pay credit card bill within one week after bill generation VS 1-3 days before due date ?
its like that if we pay bill within 1 week of bill generation then we will will better customer comapre the customer who pays bill 1-3 days before due date from bank's perspective ?

 

[starstruck]

Hello Community,

I would like to know that does it make any difference from the bank's perspective if we pay credit card bill within one week after bill generation VS 1-3 days before due date ?
its like that if we pay bill within 1 week of bill generation then we will will better customer comapre the customer who pays bill 1-3 days before due date from bank's perspective ?

Nope. Does not matter to them.

 

[itsds]

Nope. Does not matter to them.

than k you

 

[sxchzy]

Hello Community,

I would like to know that does it make any difference from the bank's perspective if we pay credit card bill within one week after bill generation VS 1-3 days before due date ?
its like that if we pay bill within 1 week of bill generation then we will will better customer comapre the customer who pays bill 1-3 days before due date from bank's perspective ?

yes
for them, early repayments mean more funds at their disposal
better asset liability management
less loss of opportunity cost
not having to borrow from overnight money market

 

[itsds]

yes
for them, early repayments mean more funds at their disposal
better asset liability management
less loss of opportunity cost
not having to borrow from overnight money market

so that means customer who does early payment have the more chances to get any kind offer compare to the customer who does payment near to due date.

 

[sxchzy]

not neccessary
in this case bank doesnt feel the need to reward early repayments

 

[unusedbrain1]

so that means customer who does early payment have the more chances to get any kind offer compare to the customer who does payment near to due date.

If you pay early its your piece of mind ! If u have 5-10 cc.
If u pay on last day .. its fine too .. due date is due date bcz its the last day ..
3 hr exam u finish in 1 hr .. doesn't mean u will get 115 marks 😁 hope u understand now

 

[itsds]

If you pay early its your piece of mind ! If u have 5-10 cc.
If u pay on last day .. its fine too .. due date is due date bcz its the last day ..
3 hr exam u finish in 1 hr .. doesn't mean u will get 115 marks 😁 hope u understand now

Yes true , actually IndusInd Bank launched new credit card called indusInd eazypay, there is one benefit in this card i.e. if we pay bill within 6 days of bill generation then we will get 5% cashback, i don't have much detail as of now . So i thought what benefits bank is getting if we pay bill within 6 days of bill generation and how it is beneficial for them and hence asked the same question here.

 

[D7162]

Hello Community,

I would like to know that does it make any difference from the bank's perspective if we pay credit card bill within one week after bill generation VS 1-3 days before due date ?
its like that if we pay bill within 1 week of bill generation then we will will better customer comapre the customer who pays bill 1-3 days before due date from bank's perspective ?

If you are utilizing higher limit percentage than early payment (Before Bill generation) will definitely help as it will reduce your credit utilization ration

 

[navam]

If you are utilizing higher limit percentage than early payment will definitely help as it will reduce your credit utilization ration

From a cibil / credit score perspective Credit card utilisation is based on the amount written on your statement when it's generated, it doesn't matter what the utilisation is in between statements.

In my experience it doesn't matter when you pay post statement generation (before the due date)

 

[D7162]

From a cibil / credit score perspective Credit card utilisation is based on the amount written on your statement when it's generated, it doesn't matter what the utilisation is in between statements.

In my experience it doesn't matter when you pay post statement generation (before the due date)

My Bad, I meant to pay before bill generation - Not after
Thanks, edited my reply

 

[Trevorjames]

Yes true , actually IndusInd Bank launched new credit card called indusInd eazypay, there is one benefit in this card i.e. if we pay bill within 6 days of bill generation then we will get 5% cashback, i don't have much detail as of now . So i thought what benefits bank is getting if we pay bill within 6 days of bill generation and how it is beneficial for them and hence asked the same question here.

Where did you find this card? I can’t find it anywhere.