Reserve Bank of India permits credit card billing cycle change
Business
The Reserve Bank of India (RBI) just made credit-card life a bit easier: you can now change your billing cycle at least once, giving you more control over when payments are due.
This means you can line up your statement dates with your salary or other expenses, making it simpler to keep track and avoid surprises.
Timing purchases maximizes interest free period
With the new rule, it's easier to get the most out of the interest-free period (usually 45 to 50 days) by timing big purchases right after your statement date.
Plus, paying on time is still key for keeping a healthy credit score and dodging late fees.
Overall, these changes give you more flexibility to manage spending and stay on top of payments.