1 day delay in credit card bill, loss of thousands
Often people think that a delay of one day does not make any difference. The truth is that it makes a difference, and a big one. Suppose you made a purchase of Rs 10,000 on 1st February and the bill due date is on 20th March. You paid the bill one day late on 21st March. Due to this delay of 1 day, your bill may increase to around Rs 11,000. This means that your expenditure of Rs 10,000 can become expensive by Rs 1,000 in just 1 day, because huge interest is charged on it.