Changing the billing cycle has been possible for some credit cards but the process used to be a long one. But, a recent RBI rule made it mandatory for all credit card issuers to provide such an option. We now have an online option to change the billing cycle and statement date for ICICI Bank credit cards.
Change Statement Generation Date on ICICI Bank iMobile App
- Open ICICI Bank iiMobile app on your mobile device and log in
- On the home page, click ‘Cards & Forex’
- All your ICICI Bank credit cards will be listed here. Click on the credit card for which you want to change the the billing date.
- Click on ‘Manage Card’ option
- Scroll down and select ‘View & Manage Billing Cycle’ under More Options.
- Select the new bill generation date from the calendar dropdown. You can choose any date between the 2nd and 28th of the month.
- For example, if you select 2nd it means that your statement cut-off will be the 1st of every month.
- Confirm in the next window and your new statement generation date will be set.
What should you choose as the bill generation date?
I prefer to set the statement generation date to the 2nd of a month. This aligns the bill with the salary credit date. So, easy to plan and pay it off. The second advantage is this allows better tracking of monthly spending for milestone rewards and spend offers.
You can set whichever date gives you better flexibility in planning your finances. 🙂