A credit card statement summarises your credit card activities for the billing period. It mentions your total credit limit, credit limit used, penalties (if any), reward points, and other information to help you monitor your spending. Going through your statement is also helpful as you can ensure that your card hasn’t been misused and that you haven’t been charged incorrectly.
Unbilled amount in Credit Card
Any credit you use after the billing cycle is called unbilled credit, and is charged in the next billing cycle. In other words, the unbilled amount in credit cards is the sum total of all the transactions that you make after the statement is generated. You will find this unbilled credit card amount in your next credit card statement as the amount due.
Additional Read: How to pay your credit card bill?
Take a look at an example to understand better.
Decoding the unbilled amount in credit cards
Assume that your credit card bill is generated on the 10th of every month.This means that your credit card statement for the current month will include transactions that you made between the 11th of last month to the 10th of the current month. If during this period you spend Rs. 5,000 from your credit limit, your current bill will require you to repay this amount. Now, assume that you make a transaction of Rs. 2,000 on the 11th of the current month. In this case, since this amount is spent after the bill is generated, it is the unbilled amount.
If your unbilled amount is a pocket-friendly sum, then repaying it the following month is easy. However, if you realise that the amount is more than you can manage, you have another 20 days, approximately, to take action and convert the amount into EMIs. With credit cards like the Bajaj Finserv RBL Bank SuperCard, you can convert such an unbilled credit card amounts into EMIs in an instant. The only thing you need to keep in mind is that the amount must be at least Rs. 2,500. This way you can repay your credit with ease and avoid high-interest charges too. Apart from this, the RBL Bank SuperCard also offers other beneficial features that elevate your credit experience. Take a look at what they are.
Avail an interest-free emergency loan
Emergencies can drain your finances, and at such times, you may consider either breaking your investments or availing a personal loan. However, in order to qualify for a personal loan, you are required to meet certain eligibility terms and submit documents. This may delay your access to funds. At such times, you can easily convert your available cash limit for the SuperCard into a personal loan. This loan can be availed for 3 months with zero processing fee and a nominal interest rate of 1.16.
Make interest-free cash withdrawals
Apart from offering an interest-free loan, the SuperCard also allows you to make interest-free cash withdrawals for up to 50 days with a small processing fee of 2.5%. Use this feature to address your urgent cash needs without paying the high-interest rate that many credit cards levy.
Additional Read: How to make a credit card payment through IMPS?
Safeguard your finances with robust security features
The SuperCard also has a strong two-way security feature that protects your finances. The in-hand security feature lets you control your SuperCard via the RBL MyCard App. You can also report the loss of your card via this app in no time at all. Further, the zero-fraud liability cover ensures you don’t pay a heavy price in case you are a victim of cybercrime.
Apart from all these features, the SuperCard also offers annual savings of around Rs. 55,000. So apply immediately, but not before you check your credit card offer. It’s the quickest and simplest way to get access to this handy credit card.
Additional Read: Kisan credit card
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