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Bill Payment Terms and Conditions

Bill Payment Terms and Conditions

It is tremendously vital to pay your credit card bills completely and in full. And to do that, you must be well- familiar with a various terms and conditions that you can also find on the credit card MITC document.
Billing Cycle: It is the 30 to 45 day time-frame depending on the creditor, for which you will be billed every month
Statement Date: Also called as the billing date, this is the date on which your statement will be generated for the billing period and sent your registered mail ID or phone number
Due Date: This is the date on or before which you are needed to pay your credit card bill for the last billing cycle
Grace Period: Creditors typically offer a grace period of 3 days; making the payment within the grace period will not fascinate any late fee
Total Amount Due: This is the total bill amount that you are needed to pay on or prior to the due date
Minimum Amount Due: This is the minimum amount you have to pay to maintain your card active and not sustain any late fee (a small portion of the total amount due)


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