Klein: How long is a credit card “cycle”?
My bank puts a hold on the money I have transferred to my account because it says I have transferred money multiple times in the same “cycle”. What does that mean?
Answers and Views:
Answer by Tigg
Varies by the credit card company. Some are 20 days, others 25 and 30
It means they don’t want you going online and immediately paying every time you put a charge on your credit card. They don’t want you making all those transfer transactions within the month. They call it “cycle” because it isn’t actually a month — more like 25 days.
Wait for the statement and pay the full balance by the due date. There really isn’t an advantage to immediately paying what you charge. You lose out on the interest free grace period from the date of purchase to the statement due date.
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