The Bajaj Finserv RBL Bank SuperCard, accessible in many variants, is a highly rewarding credit card. First and foremost, it can act as four different cards– a credit card; a loan card by virtue of which one can avail a personal loan for 90 days; a cash card, permitting cash withdrawals from ATMs sans any interest for a period of 50 days; and an EMI card, enabling conversion of high-end bills into reasonable and convenient smaller segments. Before owning this Bajaj Finserv co-brand credit card, in partnership with RBL Bank, one should get enlightened about its various dynamics. One such aspect common to every credit card is the credit card billing cycle, wherein the credit card due date is alluded to. Without a proper grip on these terms, as well as an understanding of the procedure to check these vital details, maintaining a credit card is not feasible. Hence, refer to this comprehensive guide to get accustomed to these important details.
What does the term billing cycle mean and encompass?
The credit card billing cycle, lasting about 27-30 days on average, is the period for which the credit card statement is engendered. On the last date of this cycle, the statement gets furnished to the customer. Inscribed on it is the due date, which is about 20 days after the bill has been generated. Throughout the span of this billing cycle, every transaction made using the credit card, any discount or tax waiver offered to the cardholder etc. gets accounted for. The customer has to repay the amount owed to the bank on or before the credit card due date. In case of any financial distress, the cardholder should try to settle at least the minimum amount due to keep the card active, and to avoid paying a hefty amount in the form of a late payment fee. Any amount that rolls over to the next billing cycle attracts interest or finance charge. It is highly desirable to pay the bill in full, as it gets excessively nerve-wracking to break free from the clutches of the debt trap.
Procedure to check credit card billing cycle and statement
The credit card statement, forwarded at the end of every billing cycle, can be accessed through both online and offline mediums. The statement needs to be scrutinised minutely and thoroughly to not miss out on any unwarranted transaction.
Online mode: Either through email or the net banking account, the Bajaj Finserv RBL Bank SuperCard’s monthly statement can be checked.
- Email: Bajaj Finserv offers the facility of keeping a tab on the bill at the end of every billing cycle through email. The institution sends a copy of the statement to the cardholder’s registered email ID.
- Net banking account: When even improbable transactions have been rendered possible via digital route, checking the billing cycle, and the associated credit card statement online should not be minutely challenging. One just has to log into the account, view the statement, and put it up for download. If one has not registered for digital banking services, it is recommended to do so. Moreover, by just entering the 16-digit credit card number, one can sign up and view the monthly report.
Offline mode: If you wish, you can access the report through postal services or SMS. Here’s how:
- Via Post: One just needs to dial Bajaj Finserv’s customer care number, and make an arrangement for receiving the statement in physical form at their residential address.
- Via SMS: One can sign up for e-services via the facility of SMS. All they have to do is enter ‘GREEN’ and send the SMS to the number 5607011. Once this gets accomplished through the registered mobile number, the request will get approved within 48 hours. With the sanction, one will become eligible for e-service from the next billing cycle.
Once you get the statement through any of the above mediums, inspect and probe every information mentioned on it.
The starting and the end dates of the billing cycle can be found on the front page of the statement, along with the minimum and the total amount due and the credit card due date. If there’s no outstanding amount from the preceding month, the span between the last day of the cycle and the due date is known as the grace period. No interest gets charged on any expenditure made through the card during this period.
Other information furnished through the statement includes an account of all the spheres where the credit card had been utilized, the limit on the credit card, reward points earned or redeemed, finance charges, and maintenance fee, if any, among others. If you notice any discrepancy, you should immediately contact Bajaj Finserv.
Thus, one can check the billing cycle, the credit card statement and the due date of the Bajaj Finserv RBL Bank SuperCard conveniently through various modes. It is extremely vital to examine the report every month to successfully maintain your credit card.