What if my statement date is 5th of every month and my monthly due date is 20 days after statement date. What is my billing cycle and what date should I pay my purchased items
The statement date is the date that is the last date of transactions on each monthly statement. On that date, they will total up your new transactions, add any interest charges, calculate the minimum payment required, and generate the monthly statement.
You are required to make a payment between the statement date and the due date that is at least the minimum payment.
However, you are allowed to make a payment whenever you want, and if you make a payment before the statement date, it will be shown on the statement that gets generated and possibly reduce the amount of the required minimum payment.
I recommend paying off your whole credit card balance in full each month. If you do this, you won’t pay any interest charges. You can wait until you receive the monthly statement, and then instead of paying the minimum due, pay the full statement balance shown on the statement by the due date.
For more information on the timing of the billing cycle and how it affects interest, see If I were to buy something a day before my due date for my credit card bill, would I be charged interest?