Key Points
The Reserve Bank of India (RBI) has asked credit card issuers to provide customers an option to modify their credit card billing cycle at least once..
In an amendment to the Master Direction Credit Card and Debit Card Issuance and Conduct Directions, 2022 released on March 7, 2024, the central bank said, "In order to provide flexibility in this regard, cardholders shall be provided the option to modify the billing cycle of the credit card at least once, as per the cardholders convenience."..
The process of changing credit card billing cycles or due dates will differ from one bank to another..
Kunal Varma, CEO and Co-Founder at Freo, says, "While banks can offer the flexibility to change your billing cycle, the RBI guideline specifies cardholders should be allowed to modify their billing cycle at least once as per their convenience..
Laksh Dua, Co-Founder at WeCredit, a start-up that provides quick and hassle-free loans, "Whether banks will give you the option to change your billing cycle more than once might depend on the specific policies and practices of individual banks..
