Thursday, June 30, 2022
BusinessHow to change the billing date on the credit card?

How to change the billing date on the credit card?

RBI has provided some features that allow users to make changes to their credit card billing system.

The Reserve Bank of India has recently announced some new rules for credit card users in the interest of their customers.

Part of the bank’s 26-page document on the terms states that card users should be given the option to change the credit card billing cycle only once as per their convenience. The new rule will take effect on July 1, 2022.

The billing cycle is the period of time between consecutive bills due dates. Payment should be made 15-25 days after the end of the billing cycle.

For example, if your billing cycle is from April 11, 2022 to May 10, 2022, the date on which you must make the payment is June 4-5, 2022 or earlier.

There is no interest on the transactions made by the card users till the beginning and end of the billing cycle. Failure to pay within the specified period will result in interest and penalties.

Credit card users can now change the billing cycle by making payments on the day that suits their convenience, depending on the cash flow, as per the offer currently announced by RBI.

For example, if you want to pay before the fifth of each month, you can customize your credit card billing cycle to suit. Under the new RBI rule, multiple credit cards are available to help those who have not paid on certain dates.

Credit card issuers do not properly monitor the billing cycle of all credit cards issued. If you want to change the payment date on the same day or before the specified date in a month you are given a one time and change option.

Covid India Active Cases

Total active cases
Updated on June 30, 2022 1:07 am Protection Status

Related Stories

Trending Stories

Varun Dhawan says Arjun Kapoor and Sidharth Malhotra are both ready for marriage

The gossip continues in the industry regarding the love story and marriage of Bollywood stars. Arjun Kapoor and Sidharth Malhotra are also among those celebrities...

Rupee strengthens against dollar in early trade, know what is the current price

Rupee has shown strength today against the dollar. Against the dollar, the rupee opened with a strength of 12 paise at 78.23 against 78.35....

Austria’s Vienna tops the list of best cities to live in 2022 – 2023...

Vienna: The Austrian capital Vienna has been selected as the best city in the world to live in. A special study by the Economic Intelligence...

30,000 Years Old Frozen Mammoth ice age Baby discovered in Yukon Exicites Canada

In Canada researchers found 30,000 years old Frozen Mammoth baby after this news was went viral over internet. Also many people were asking Mammoth...

Flipkart Smartphones Sale 2022: Up to Rs 6,000 off on buying a Mobiles

Various types of sales and offers keep running on Flipkart, in which the product is sold with big discounts . The new sale 'Flipkart Electronics...

Recently Popular

Elon Musk Tweets “Twitter’s Next Board Meeting is gonna be lit”

Elon Musk recently bought 9.2% stake in Twitter. Many of them asks about whats next...

OnePlus 10 smartphone specifications leaked online, will get 150W fast charging

OnePlus company is preparing to launch the OnePlus 10 smartphone later this year. It has...

Russia Seeking China for Military and Economic Assistance invasion of Ukraine War, US Officials Say

Russia's economy has been hit hard by global sanctions. White House National Security Advisor Jacques...

PM Modi likely to watch IPL Finale match at Ahmedabad Security arranged outside the stadium

Gandhinagar: Both Prime Minister Narendra Modi and Home Minister Amit Shah will be visiting Gujarat....

Corona virus survival study 48 hours on ATM or Plastic cards

London: The corona virus, which originated in China in 2019, has spread around the world. The...

Pakistan’s Babar Azam Moved No 1 batsman in the ICC rankings for ODIs and T20s

Pakistan captain Babar Azam is currently the No. 1 batsman in ICC ODIs and T20s. He...

Recommended Stories

Trending Now