Billing Date Law and Legal Definition

Billing date is the month, date, and year of a statement. A statement is given periodically or monthly. In order to calculate appropriate finance charges, minimum payment due, and new balance, a billing date is essential. Billing date varies per account. Billing runs on a thirty day cycle. At the end of thirty days, a customer is billed. For example, when a person signs on 1st of a month, the billing date of such customer is the 1st of every month. When a customer signs on 20th of a month, the billing date is the 20th of each month.