If you want to change your credit card billing cycle in the wake of RBI regulations .. you can now easily complete this task. ICICI, HDFC, SBI, this facility is coming to you no matter what credit card you are using. Many people use different types of credit cards. May have more than one card. There is nothing wrong with using more cards. However, these must be managed properly. Do not put the bill amount pending. Must be paid in full. Otherwise you will have to bear the brunt of the charges. Also if you have multiple credit cards .. Billing cycles can also cause headaches.
Also Read: Good news for Phonepe users .. Buy gold with Rs 100 too!
Card issuers offer the facility to make changes to the billing cycle through an internet banking portal or mobile app. Alternatively, some companies may offer the option of calling customer care numbers and changing the billing cycle. There are no special rules for these. These factors vary based on the internal policies of the card issuing companies.
However, the new RBI rules will make billing cycles a headache for those with more cards. All cards can have the same billing cycle. Or you can put the billing cycle of your choice on a card basis. The billing cycle may change according to the salary credit dates. RBI’s new rules will benefit those with more cards. Usually the interest free period on credit cards is 45 days to 51 days. The interest free periods on the cards can be better managed if the billing cycle is well thought out and set.
Also Read: Gold prices rising for 3 days .. What are the rates now ..
To find comprehensive information on more than 20 areas, you can subscribe to Economic Times Prime for exclusive Economic Times articles.
.
