When credit cards talk of a "billing cycle" do they mean year to year, or every 30 days?---?

Question

I had a previous question of APRs on credit cards where the answer-er said, "the APR assumes you pay the full balance in one 'billing cycle'". Now I ask, then does that mean that if the APR ASSUMES you should/will pay in one 'billing cycle' that they can rightfully charge more (i.e. alter the original APR, and/or add an additional fee) even if I pay on time? Please help!

Answer 1

I'm pretty confident that when it comes to credit cards most billing cycles do mean a month. I mean you do usually pay your credit card bills once a month or 20 something days right?

Answer 2

APR is a yearly percentage rate. A billing cycle is usually 30 days. You are only billed a percentage of the unpaid balance up to the total APR, if not paid off in time.

Answer 3

They would like for you to pay the full balance within four weeks. Regardless of that wording, it also says somewhere within all the small print is that the agreement terms are not guaranteed for any period of time. The credit card company can change the fees, interest percentages at any time even if you pay on time.

Answer 4

A billing cycle refers to every 30 days or whatever the time frame is that particular company sends out the bills.

Answer 5

Most credit card billing cycles fall between 21 and 25 days with some minimal "grace period" for payments to be recieved.

The best bet for you to get the answer for when the statement cut off date (meaning when charges are posted to the current month's payment expected) is to contact your card issuer directly.

Answer 6

30 days

Answer 7

One month (but check and see when that cycle starts)