doubt SBI credit card: 1 month paid late and got financial changes in next month stmt, now when pay bill of this next month stmt - statement date or due date?

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Deal Subedar
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In SBI credit card, missed due date and got financial charges in this month statement….
So when I have to pay due amount for this month ?

On statement date or on due date ? (Reason to ask: once got to know if paid late for a month bill, then for next month bill I need to pay bill amount on statement date itself, not on due date.)

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Solution:
In statement date itself have to pay. Or a early as possible.

Reason: simple
Because no interest free period if you have not paid total amount due

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vickyVicky wrote:

Solution:
In statement date itself have to pay. Or a early as possible.

Reason: simple
Because no interest free period if you have not paid total amount due

where did you got this info ?
which date showing for payment in statement or net banking ?

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aswaniexpress wrote:

where did you got this info ?
which date showing for payment in statement or net banking ?

Showing due date as Jan 4. But if you pay on due date, they will get financial charges for next month statement as well… For stmt with due on feb4, you will see more charges….
If you enquire they say, you didn’t pay on time on Dec 4, and those pending amount you paid on Jan 4, so charges will be calculated on whole amount till how long you taken to pay…..

Simply saying – no interest free period – for a subsequent month, if you miss payment due date for a month…..

I missed dec4 by just 2k amount I paid rest 12k amount (bill 14k by dec4), so I should not wait till next due date Jan 4 (have to pay all amount suppose say I received bill of 32k by Jan 4) – gave to pay entire 32k as soon as received bill on email

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vickyVicky wrote:

Showing due date as Jan 4. But if you pay on due date, they will get financial charges for next month statement as well… For stmt with due on feb4, you will see more charges….
If you enquire they say, you didn’t pay on time on Dec 4, and those pending amount you paid on Jan 4, so charges will be calculated on whole amount till how long you taken to pay…..

Simply saying – no interest free period – for a subsequent month, if you miss payment due date for a month…..

I missed dec4 by just 2k amount I paid rest 12k amount (bill 14k by dec4), so I should not wait till next due date Jan 4 (have to pay all amount suppose say I received bill of 32k by Jan 4) – gave to pay entire 32k as soon as received bill on email

Correct
Ideally u should pay immediately on bill generation else interest keeps accumulating.
Paying full bedore due date in such case will only ensure no interest penalty on txn done after payment date.

Remember whenever u miss a due date, pay everything outstanding right when u realise it.

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vickyVicky wrote:

Showing due date as Jan 4. But if you pay on due date, they will get financial charges for next month statement as well… For stmt with due on feb4, you will see more charges….
If you enquire they say, you didn’t pay on time on Dec 4, and those pending amount you paid on Jan 4, so charges will be calculated on whole amount till how long you taken to pay…..

Simply saying – no interest free period – for a subsequent month, if you miss payment due date for a month…..

I missed dec4 by just 2k amount I paid rest 12k amount (bill 14k by dec4), so I should not wait till next due date Jan 4 (have to pay all amount suppose say I received bill of 32k by Jan 4) – gave to pay entire 32k as soon as received bill on email

Thanks for information..
would like to understand a bit more on this…
lets say, last bill due is on dec 4, paid late ( how many days late )?
next bill generated on dec 20 due on jan 4, so we have to pay by dec 20 only?
How long we have to pay on bill generation date than bill due date ?

There should some official communication regarding this right in sbi website or card MITC ?

Thanks in advance..

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aswaniexpress wrote:

Thanks for information..
would like to understand a bit more on this…
lets say, last bill due is on dec 4, paid late ( how many days late )?
next bill generated on dec 20 due on jan 4, so we have to pay by dec 20 only?
How long we have to pay on bill generation date than bill due date ?

There should some official communication regarding this right in sbi website or card MITC ?

Thanks in advance..

lets say, last bill due is on dec 4, paid late ( how many days late )?
—> grace period 1 or 2 days in SBI from due date, any days after this 1 or 2 days will fall into late payment.

next bill generated on dec 20 due on jan 4, so we have to pay by dec 20 only?
—> yes, have to pay on 20th itself to get no extra charges. Even if pay on 21st, they will charge 1 day interest on total outstanding. As it falls into No interest free period.

How long we have to pay on bill generation date than bill due date ?
—> If I missed a due date (of any amount), then I ought to pay on statement date, for 2 consecutive months (not sure, but immediate month is for sure)

There should some official communication regarding this right in sbi website or card MITC ?
—> don’t know. If you call they may explain. I called and tried to explain this scenario, but that person didn’t know. Last year when scenario happened (charged charges for not paying on statement date, for consecutive month/s) that person told all these..

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.

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vickyVicky wrote:

lets say, last bill due is on dec 4, paid late ( how many days late )?
—> grace period 1 or 2 days in SBI from due date, any days after this 1 or 2 days will fall into late payment.

next bill generated on dec 20 due on jan 4, so we have to pay by dec 20 only?
—> yes, have to pay on 20th itself to get no extra charges. Even if pay on 21st, they will charge 1 day interest on total outstanding. As it falls into No interest free period.

How long we have to pay on bill generation date than bill due date ?
—> If I missed a due date (of any amount), then I ought to pay on statement date, for 2 consecutive months (not sure, but immediate month is for sure)

There should some official communication regarding this right in sbi website or card MITC ?
—> don’t know. If you call they may explain. I called and tried to explain this scenario, but that person didn’t know. Last year when scenario happened (charged charges for not paying on statement date, for consecutive month/s) that person told all these..

no interest free period starts from the day you made transaction to till you pay back..
not from bill generation day right ?

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aswaniexpress wrote:

no interest free period starts from the day you made transaction to till you pay back..
not from bill generation day right ?

From the transaction day till statement date – calculated and entered as financial charge in statement.
Now, if I not paying on stmt day, new charges will be put from Stmt day till paid day (for entire bill, as mine is marked as interest free), in next month bill.

Missing