There is an interesting phenomenon i noticed today.. mostly by chance..
I was looking at my Credit Card due date and suddenly realised that it was for the first of the month. i.e 1st Dec 08.
It was periliously close to my salary due date and it got me thinking if i may miss by deadline as i was travelling. But then i was never this uncomfortable between my due date and salary remittance date !!
Something was up and i was not sure..
I quickly looked up the statements for my past 11 months, and saw the creep in due date.
| Month | Bill from | Bill To | Due date | Max Credit Period | Payment Period | Billing Days / cycle |
| January-08 | 17-Dec-07 | 15-Jan-08 | 2-Feb-08 | 47 | 18 | 31 |
| February-08 | 16-Jan-08 | 15-Feb-08 | No payment | #VALUE! | #VALUE! | 29 |
| March-08 | 16-Feb-08 | 16-Mar-08 | 3-Apr-08 | 47 | 18 | 31 |
| April-08 | 17-Mar-08 | 16-Apr-08 | 4-May-08 | 48 | 18 | 30 |
| May-08 | 17-Apr-08 | 16-May-08 | 3-Jun-08 | 47 | 18 | 31 |
| June-08 | 17-May-08 | 17-Jun-08 | No payment | #VALUE! | #VALUE! | 30 |
| July-08 | 18-Jun-08 | 17-Jul-08 | 4-Aug-08 | 47 | 18 | 31 |
| August-08 | 18-Jul-08 | 15-Aug-08 | 2-Sep-08 | 46 | 18 | 31 |
| September-08 | 16-Aug-08 | 13-Sep-08 | 1-Oct-08 | 46 | 18 | 30 |
| October-08 | 14-Sep-08 | 14-Oct-08 | 1-Nov-08 | 48 | 18 | 31 |
| November-08 | 15-Oct-08 | 13-Nov-08 | 1-Dec-08 | 47 | 18 |
There was a constant fluctuation in the credit period extended and the number of biling days. This was not linked in anyway to the number of calender days in a month.
I am not sure why firms are not consistent with the billing. Is there any scientific or business logic behind the changing and fluctuating due date on the creit card bills.
Some thougths:
- Depending on credit requirement of Citi.
- Strategy to confue gamers , as every cycle will be a diff date. And if this is followed by all the credit card firms then a person cannot predict in advance the due date.
If you have any guesses just shoot.... while i arrange for funds to pay off my bill for the month.
