Nowadays most people use credit cards. Through credit card you can make payment without worrying about the balance. Credit cards are easy to use and have many benefits.
Let us tell you that there is a due date for payment of credit card bill. After the bill is issued, you have to pay the bill by that date. Failure to do so leads to penalty and a risk of damaging the credit score.
Many times people forget to pay the credit card bill on the due date. In such a situation, they are afraid of getting a bad credit score. However, you get the facility to pay your credit card bill after the due date without any penalty and your credit score is not affected. Let us know what RBI rules say about this.
Last year, the Reserve Bank had implemented a new rule regarding credit card bill payment. In which provision has been made for bill payment without penalty even after the due date of bill payment. As per this rule, the credit card holder can pay the credit card bill without any penalty even after the due date up to 3 days i.e. if you have forgotten to pay your credit card bill on the due date, then within the next 3 days You can pay the given bills without extra money.
Credit score will not be affected for 3 days According to the rules of the Reserve Bank, if you pay your credit card bill for the next 3 days after the due date, then you will neither have to pay any penalty nor will it test your loyalty. , In such a situation, if you forget to pay the credit card bill due date in a month or the money is not arranged on time, then you will not have to worry for 3 days.
If you do not pay the credit card bill even after 3 days of the due date, the company will charge you a penalty. The amount of the penalty depends on your credit card bill. If your bill is high then you will have to pay more penalty and if it is less then you will get your work done with less penalty.
For example, State Bank levies a penalty of Rs 400 on bills of Rs 500 to Rs 1,000. On the other hand, a fine of Rs 750 is imposed on a bill of Rs 1,000 to 10,000 and Rs 950 on a bill of Rs 10,000 to 25,000.
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