Credit Period of Your Credit Card?

**uplana** · 08-22-2009, 04:54 AM

What is the credit period of your card. Its really an important factor while traveling outside your country. I have a ICICI Credit card which have a credit period of 35 days. What about you?

**mediafreak** · 08-22-2009, 08:30 PM

The time between when you make a purchase and when the money is due.

Let's say I buy gas on 6/2/07, then I receive a bill on 6/25, and its due on 7/2/07. The grace period is one month.

___

It is my passion to provide taxes tips.

**uplana** · 08-25-2009, 05:44 PM

Originally Posted by mediafreak

The time between when you make a purchase and when the money is due.

Let's say I buy gas on 6/2/07, then I receive a bill on 6/25, and its due on 7/2/07. The grace period is one month.

___

It is my passion to provide taxes tips.

In India for most credit cards, the credit limit is around 30-40 days. I want to know if it is same in your country with most of banks?

**arjunarao** · 09-19-2009, 08:42 PM

I guess the Credit period concept is all same across the globe. And just adding to mediafreak's comment just wanted to give a simple formula.
1) Count the number of days between due date and billing date (usually this would be 10 to 15 days).
2) the number of days in that month.
now add 1 and 2 the answer would be the maximum credit period.
Pls make sure that you pay your credit card bills a day before due date and verify calling them on the due date , because if some thing goes wrong, it costs you much

**mark** · 09-20-2009, 05:09 AM

I think credit card period is something which is only depending on the credit card provider. My friend is having two credit cards HSBC and a private one. HSBC is providing only 30 days credit period. But the one which he has got from a private firm is having 60 days credit period

**dilip1456** · 09-20-2009, 10:14 AM

Its the time that gives you the possible due date after you buy something..The time between when you bought something and when the money is due.

**uplana** · 10-07-2009, 09:40 PM

Originally Posted by mark

I think credit card period is something which is only depending on the credit card provider. My friend is having two credit cards HSBC and a private one. HSBC is providing only 30 days credit period. But the one which he has got from a private firm is having 60 days credit period

You are right. I have just got two credit cards, one from HDFC and other from Bank of India and there is a dramatic difference in their credit period. It basically depends on policies followed by a particular bank regarding transaction and other bank operations as they have to adjust it according to guidelines provided by RBI in India.

**jb100** · 10-08-2009, 07:29 PM

Presently I have no credit cards of any company but very soon I would receive one from a reputed private sector Bank. I know from my friends,that free credit period of any credit company or Bank is generally 30 to 45 days.But there are some exceptions.It is better to repay the billed amount at least 2 days before the due date.

**Mockingbird** · 10-10-2009, 01:10 AM

You have to read the rules from the company very carefully, some vendor based credit accounts only give you 28 days and there is no grace for anything already billed even if it is less the 28 days, they will charge you a late fee and finance charges. These are very dangerous in you will be charged for overdue accounts that might be only a day or so overdue, they will report 30 days late!

**pkc3000** · 10-19-2009, 06:44 PM

It is true that without credit card online business and sales is not possible. Every body knows what credit cards are there is no need to elaborate the subject. I think main advantage of the credit card is it is the substitution of money and there is no need to carry huge cash with you. Before applying for credit card we must know the basics of CC. There are many credit card firms which are giving /issuing different types of CC to their different customer. Rate of Interest and features may vary from company to company.There are various card applications which make it important for an individual and selection of CC should be based on need. Before obtaining credit card all details i.e. rules & regulation, expiry date, rate of interest and other basic things are to be ascertained .Before taking any credit card all such aspects are to be carefully considered so that in future card holder will not be put into trouble.. In India almost all banks who are issuing credit card the validity period is in tween 30 to 40 days few are exceptional. But it is better to pay before the expiry date so that you will not face any problem. I have heard from one of my friend that few credit card company is charged fee when you exceed your limit. Till date I am not having any credit card. Friends more elaboration the subject will be beneficial for all of us