Good news! Unique option to change credit card billing cycle from this date – How it helps and know the process


Credit card holders know that changing the billing cycle is not an easy task. The billing cycle for a credit card is sacrosanct and remains fixed until the card is used and not cancelled. However, in the future, as a credit card user, you will have a unique option to change your billing cycle. RBI has now mandated card issuers to provide an option to change the billing cycle date and the new rule will come into effect on July 1, 2022. “Card issuers do not follow a standard billing cycle for all cards. credit issued. In order to provide flexibility in this regard, cardholders will be offered a one-time option to change the credit card billing cycle as per their convenience,” RBI’s instructions to card issuers read.

Many people have multiple credit cards. There’s nothing wrong with using more than one credit card as long as you can manage them properly. The best way to use credit cards is to pay dues in full on time without delay or incurring late fees and interest. When managing multiple credit cards, there is always a concern about billing cycles.

The billing cycle or billing period is the normal length of time between the closing dates of two consecutive bills issued by the card issuer. Currently, there was no rule about changing the billing cycle date. Sachin Vasudeva – Associate Director and Head of Credit Cards, says – “Card issuers allow changes to billing cycles either on their online banking portal or mobile app, whereas with some issuers , you may need to speak with the customer care team to enjoy the installation, however, there were no predefined rules about this and change request approval, change mode, etc. were entirely determined by the internal policies of the card issuer.

The credit card statement is generated on a specific date based on which the due date to pay the bill amount has arrived. If you have multiple cards, this new credit card rule can help streamline your finances. “RBI’s new billing cycle change rule can help cardholders manage their finances more efficiently and conveniently. They can align their credit card due dates with their salary credit date or cash receipts. The rule is especially beneficial for those with multiple credit cards,” says Vasudeva.

The interest-free period on credit cards can be up to 45-51 days depending on when you swipe your card. “By choosing billing cycles wisely, they can make the most of the interest-free periods on each card,” says Vasudeva.

The change billing cycle date rule not only helps to maximize the use of interest free period on credit cards but also helps to manage your finances. “When choosing a billing cycle, consumers should prioritize aligning their due dates with the date their salary is credited each month. This will help them pay dues easily and on time as they have enough cash on hand, as card payments can be stressful when they run out of funds,” adds Vasudeva.


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