The statement period is 1 calendar month during which you made card purchases. At the end of the period, on the billing date, a statement of your payments is generated — when and how much you spent.
The billing date is the date when the statement is generated, which includes all your purchases for the previous month (the statement period). On the billing date, the mandatory minimum payment is billed. You then have another 1 month to make the minimum payment.
The payment period is the period for paying the minimum payment. It is 1 calendar month following the statement period. The last day of the payment period falls on the last business day of the month.
A credit card is a form of credit, but instead of a standard payment schedule, you have a mandatory minimum payment, the amount of which depends on the debt amount and whether interest is charged on transactions.
You do not need to calculate the amount of the mandatory credit card payment yourself — the bank does this automatically. You can find out the amount and the payment due date in the app or the web version of Uralsib Online.
Credit limit is the amount within which the bank is willing to provide you with credit. A credit limit is provided to pay for goods or services, withdraw cash, as well as make card-to-card money transfers.
A credit limit is revolving, which means that after you have repaid some amount to the bank, you can borrow it again from the bank.
