While your credit card statement closing date is simply the end of the billing cycle and the beginning of the minimum 21-day grace period, the payment due date is the last day you have to make at least the minimum payment before you incur a late fee.

What is the difference between due date and maturity date?

The maturity date is the date on which the principal amount of a note, draft, acceptance bond or other debt instrument becomes due. The maturity date also refers to the termination date (due date) on which an installment loan must be paid back in full.

What is the legal due date?

The particular day on or before which something must be done to comply with law or contractual obligation. Amended returns are filed after the return’s due date has passed.

When is the due date for a credit card?

Typically the due date is at least 25 days after the closing date. (This seems to be pretty universal across card issuers; maybe it is a legal requirement but I am not sure.)

Is the payment due on the credit card statement?

Your payment due is the payment printed on your credit card statement. Your account statement closing date is not your payment due date. In fact, you’ll have several days after your account statement closing date to send at least the minimum credit card payment and be considered on time.

When to pay by statement date or due date?

Nothing to be confused as the statement date represents the date on which your credit card bill is generated. You would be given about 20–25 days from there before the due date arrives. So, you can take your time and pay off the dues on or before the due date to avoid late payment charges.

When to Pay HDFC Bank credit card statement date?

You need to pay before the due date. The statement date of my HDFC Bank Credit Card is 8th of every month. The due date is 27th of the month, that means there is a grace period of 20 days (include both 8 and 27 in counting)…. I can pay before the banking hours of 27th.