New Delhi, Aug. 15 -- Using a credit card responsibly involves more than simply paying the bill on time. Two dates that play a crucial role in managing credit card payments are the statement date and the payment due date. While both are part of the same billing cycle, they serve different purposes.

Having a clear understanding of both is essential to managing your credit card repayments effectively and protecting your credit score and overall credit profile from hard inquiries, repayment delays, and defaults.

Amit Prakash Singh, Co-founder & CBO, Urban Money, explains the basic idea behind the credit card statement date and its significance. He states, "The statement date and payment due date serve two different purposes in a credit car...