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Billing Cycle
The period of time between billing statements for an account, typically one month.
More Details
A billing cycle is the length of time between billing statements for a particular account, such as a credit card or utility account. During the billing cycle, the account holder makes purchases or incurs charges that are then added to their bill.
Example
A credit card billing cycle typically lasts one month, and during that time the cardholder makes purchases or incurs charges on the credit card. At the end of that billing cycle, the card issuer sends the cardholder a statement that shows all the transactions that have occurred during the billing cycle, along with the total amount due.
Related Terms
Deposits
A sum of money that is placed into a financial account for the purpose of securing a product or service.
Bill Pay
A service offered by banks and other financial institutions that allows customers to pay their bills electronically.
Apple Pay
A mobile payment and digital wallet service that allows users to make payments using their Apple device.