IDFC FIRST Bank Credit Card’s Billing Cycle

Understanding your IDFC FIRST Bank credit card’s billing cycle is essential for effective payment management and avoiding unnecessary costs. By knowing the statement generation date and the payment due date, you can plan your expenses more efficiently, make timely payments, and maintain a strong credit score. 

Your credit card billing cycle refers to the period between two consecutive statement dates, typically lasting 28 to 31 days. For example, if your statement date is the 20th, a purchase made on 5th March will appear in the statement generated on 20th March. 

A purchase made on 21th March will be reflected in the statement issued on 20th April. You can check your billing cycle through the following methods:

• Monthly Statement: The “Statement Period” is displayed at the top, showing start and end dates.

• Mobile or Internet Banking: Log in, select your credit card, and view statement details to see your billing period.

• Email or SMS alerts: Statement notifications often include the statement date and billing range.

Understanding your billing cycle allows you to monitor expenses, plan repayments, and maximise your interest-free period. It is advisable to review it regularly, particularly if your statement date changes, to ensure timely and well-planned payments.

Understanding your IDFC FIRST Bank credit card billing cycle enables you to schedule payments effectively, thereby avoiding late fees and interest charges. The bank offers multiple secure and authorised payment methods, allowing you to choose the option most convenient for you.

• Via Net Banking (Current IDFC FIRST Bank App)

1. Log in to your IDFC FIRST Bank’s internet banking account

2. Go to ‘Credit Card’ and select ‘Pay credit card bill’

3. Enter payment details and confirm the transaction

4. Optionally, enable Autopay for future bills to schedule automatic payments

• Via Net Banking (Old IDFC FIRST Bank App)

1. Log in via the previous version of the IDFC FIRST Bank mobile banking app

2. Navigate to the ‘Credit Card’ section and choose ‘Credit Card Bill’

3. Enter the amount and complete the payment

• Via UPI Transfer

1. Open any UPI-enabled banking app or the BHIM app

2. Go to the Send Money option in the UPI section

3. Enter <your 16-digit card number>.cc@idfcbank as the UPI ID

4. Enter the bill amount and send the payment

• Via IMPS or NEFT Transfer

1. Log in to your bank’s internet or mobile banking app

2. Select Fund Transfer and choose IMPS or NEFT

3. Add your credit card as beneficiary with details including your account number, bank name, and IFSC code (IDFB0010225)

4. Enter the payment amount and you are good to go

• By Visiting a Branch (Cash Payment)

1. Visit the nearest IDFC FIRST Bank branch

2. Deposit cash into your credit card account with your name and account number

• By Cheque Deposit

1. Write a cheque in favour of IDFC FIRST Bank Credit Card XXXXXXXXXXXXXXXX (16-digit card number)

2. Drop it at an IDFC FIRST Bank branch or ATM 

The due date is the final day to pay your outstanding credit card balance in order to avoid late payment fees or interest charges. It is set to a fixed number of days after the statement date. 

For IDFC FIRST Bank credit cards, the due date falls 15 days after the statement generation date.

• For example, if your statement is generated on 20th March, your payment will be due on 4th April

• Paying the Total Amount Due by the due date will help you avoid interest on new purchases

• Paying only the Minimum Amount Due will prevent late payment fees, but may still result in interest charges on the remaining balance

Late payment fees apply when the Minimum Amount Due is not credited to your card account by the payment due date. For most IDFC FIRST Bank credit cards, the fee is 15% of the Total Amount Due, subject to a minimum of ₹100 and a maximum of ₹1,250. 

Certain cards may be exempt from these charges, while others adhere to the terms of their linked primary card. The fee calculation is based on the outstanding balance from your previous statement, after deducting any payments made before the due date. 

Making even a partial payment before the due date can reduce the late fee. However, paying the full amount on time is the most effective way to avoid this charge. For example:

• Total Amount Due = ₹6,000, and no payment is made by the due date

• Late payment fee = 15% of ₹6,000 = ₹900

If you miss a payment, the bank will report your account as overdue to Credit Information Companies (CICs) in accordance with RBI regulations. The bank may also send reminders via approved channels such as calls, SMS, or email regarding the pending dues.