While, payments for credit cards should be automated - there are many reasons why it can get delayed such as a technical glitch or inadequate funds in the account. 🙃 Thankfully for us, The Reserve Bank of India (RBI) tweaked the credit card due date norms. It came out with guidelines for credit card issuing companies to allow customers three more days from the payment due date, to pay their credit card bills. 🙌🏼 So for example - your payment due date was 14 December. If you pay the full amount before the 17th of December no penalty charges can be levied. 🙏🏼 However, if you pay the bill on 18th December (after 3 days), the bank will calculate interest from 15th December; till the day you make the payment and charge a late payment fee as well. 🥲 The central bank has also said that only after the three-day grace period can the card issuing company report the credit card as “past due” to the Credit Information Companies. 🌱 So your credit score will remain intact if you pay the amount within the grace period! 🙌🏼 Make sure you save it for future reference and share it with your buddies for good luck! 🍃 . . #creditcard #creditcardprocessing #personalfinancetips #personalfinances #creditcards #investingforbeginners #shreyaakapoor