Billing cycles and statements

How your billing cycle works

The billing cycle is the period when Skyro tracks your SkyroCredit spending and prepares your statement. Each billing cycle lasts 28–31 days, depending on how many days are in the month, then restarts.

At the end of the billing cycle:

• Your statement is created and will appear in the Skyro app.
• Your payment due date stays the same every month. You can check it in your statement.
• Interest charges, if applicable, will be deducted from your available balance.
  No interest is charged during the interest-free period and on your very 1st statement.
• Your interest-free payment and minimum payment amount is set.

Here are important notes to remember about the SkyroCredit billing cycle, boss:

Due date

The due date is your last day to pay the full amount on your statement to avoid interest. Your SkyroCredit due date is fixed every month.

Billing date

The billing date, refers to the cycle cut-off (15 days before the due date, counted backwards). This is the day your statement is generated.

On this date, you’ll see all purchases made during that cycle and shows the total amount you need to pay. Think of your statement date/billing date as the cutoff date for your SkyroCredit spending, boss:

• Anything you spend before your billing date will show up on your upcoming bill.
• Anything you spend after your billing date will be included in your next bill.

Interest-free period

With SkyroCredit, you can use your credit line for purchases without paying any interest, as long as you pay your interest-free amount on or before the due date.

This is how much you've spent by the end of each month, up to your cutoff date. You can check your exact interest-free amount in your statement in the Skyro app.

Remember, each purchase has its own interest-free period, depending on when it was made.

What does “up to 45 days no interest” mean?

SkyroCredit’s “up to 45 days no interest” refers to the number of days you can pay without any interest, boss.

You get more interest-free days if you purchase at the start of the billing cycle, and fewer days if you purchase closer to the bill date (cut-off).

Why it can go up to 45 days?

If you make a purchase on the very first day of the billing cycle, you get:

• Start of cycle → Bill date ≈ 30 days
• Bill date → Due date = 15 days
  
  ➡ Total = up to 45 days interest-free

👉 Learn more about the interest-free period here

Why shorter billing cycles can be easier to manage

Some providers may offer longer interest-free periods, like 60 days or more. While this may seem sulit or sound attractive, having more time to pay can also make it easier to spend more than planned. As a result, you may not be able to pay your actual balance by the due date and could end up paying more because of interest. increase the risk of overspending.

Most Filipinos receive their salary weekly, monthly, or semi-monthly. With a shorter and more predictable billing cycle, it’s easier to track spending, plan payments, and pay your actual balance before interest applies, instead of letting purchases add up over a longer period.

With SkyroCredit, your billing cycle stays simple and predictable:

• 30 days to use your limit
• +15 days to pay your current balance

➡️ Up to 45 interest-free days

With a 60-day cycle, your spending can get bigger before payment is due. This can make your balance harder to manage and pay in full. With SkyroCredit’s 45-day cycle, it’s easier to manage your spending and plan your payments around your salary.

First billing cycle vs next billing cycles

The first billing cycle is shorter. The interest-free period lasts around 30 days because:

• The billing period is 15–17 days long only.
• The due date is 15 days after the end of the billing cycle.
• So the total interest-free period in the first cycle is only about 30 days.

After your first billing cycle, your next billing cycles will follow a regular monthly schedule. This means your purchases can enjoy up to 45 days interest-free, boss!

• Regular 30-day cycle + 15 days until the due date = 45 days

Here’s a table to help you better understand how your first billing cycle compares to the next billing cycles, boss.

Billing cycle

If I pay in full, does my interest-free period reset?

No, the interest-free period does not reset when you pay in full. Paying your full balance restores your credit limit, so you can use SkyroCredit again right away, boss.

The interest-free period will only restart in your next billing cycle, as long as you pay the interest-free amount on time.

What happens if I pay my balance early?

If both your previous bill and current running bill are fully paid, then there’s nothing more to pay, boss. It’s usually better to wait for your Statement of Account (SoA) before paying, since it clearly shows the interest-free amount due and helps avoid confusion.

Here’s what you need to remember:

• Your billing date = statement cut-off date
• Skyro only looks at your balance on the cut-off date
• If your balance is ₱0 by the billing (cut-off) date, there’s nothing to repay
• Your statement (in PDF format) only shows the current month; it cannot access previous months

So if your balance is ₱0 by the cut-off date, you’re all good, boss!