Short answer: The credit card billing rules that started on 1 July 2022 still apply in 2026, now consolidated into RBI’s Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct Directions, 2025. Key protections: at least 15 days to pay after the statement, late fees and past-due reporting only if you are more than three days late, interest only on the unpaid amount, the right to change your billing cycle, and card closure within seven working days or ₹500 a day compensation.
Last updated: 13 October 2026.
What changed from 2022 to 2026
In April 2022 RBI issued a Master Direction on credit and debit cards, effective 1 July 2022. It was amended in March 2024 (adding, among other things, the right to change your billing cycle). On 28 November 2025, as part of a wider clean-up of its rulebook, RBI reissued the rules for commercial banks as the Credit Cards and Debit Cards: Issuance and Conduct Directions, 2025, repealing the earlier instructions while keeping the core protections. Other types of card issuers are covered by their own RBI directions.
| Rule | July 2022 position | 2026 position |
|---|---|---|
| Time to pay after statement | At least 15 days | Unchanged (at least a fortnight before interest) |
| Late fee / past-due reporting | Only if overdue more than 3 days | Unchanged |
| Change billing cycle | Not explicit | Right to change at least once, through app, IVR, email etc. |
| Card closure | 7 working days or ₹500/day | Unchanged |
| Unsolicited cards | Reverse charges + penalty of twice the amount | Unchanged |
| Key Fact Statement | Required | Required with every application |
The billing rules, one by one
1. Statement and payment window
Your issuer must send the statement without delay, so that you have at least a fortnight to pay before interest starts. If you do not receive a statement, contact the issuer; it does not change the due date, so set up an auto-debit or reminder.
2. The three-day grace for late fees
Late payment charges apply only when your account is past due for more than three days after the due date. The issuer also cannot report you as past due to credit bureaus within those three days. Late fees can be charged only on the amount outstanding after the due date, not on the full bill.
The three days are not an interest-free extension. If you pay less than the full amount by the due date, interest may still apply as per your card’s terms; only the late fee and past-due reporting wait for the grace period.
3. Minimum amount due and interest
The minimum due must be set so that the balance does not keep growing (no “negative amortisation”). Issuers cannot capitalise unpaid charges, levies or taxes to charge interest on them, and interest applies only to the outstanding amount after adjusting payments, refunds and reversals. Statements must warn that paying only the minimum will stretch repayment over months or years with compounding interest.
4. Changing your billing cycle
You can ask to change your billing cycle at least once, choosing the start or closing date that fits your salary date. Requests can be made through the helpline, email, IVR, internet banking or the app.
5. Wrong bills and disputes
Issuers must not raise wrong bills. If you dispute a charge, the issuer must explain, with documents where applicable, within 30 days of your complaint.
6. Closing a card
A closure request must be completed within seven working days once dues are cleared. If the issuer delays, it must pay ₹500 per calendar day of delay where there is no outstanding balance. Cards unused for over a year may be closed after notice if you do not reply within 30 days. Any credit balance must be refunded to your bank account.
7. Limits, upgrades and unsolicited cards
Issuers cannot raise your credit limit, upgrade your card or allow over-limit spending without your explicit consent. If a card is issued or upgraded without consent and you are billed, the issuer must reverse the charges and pay a penalty of twice the amount. Cards not activated within 30 days need your OTP-based consent to be activated; otherwise they must be closed without charge.
Worked example: how the rules play out
Anita’s statement is generated on the 5th with ₹40,000 due on the 25th and a minimum due of ₹2,000.
| What Anita does | Late fee? | Reported past due? | Interest? |
|---|---|---|---|
| Pays ₹40,000 by the 25th | No | No | No |
| Pays ₹40,000 on the 27th | No (within 3 days) | No | Possibly, per card terms |
| Pays ₹2,000 minimum by the 25th | No | No | Yes, on the unpaid ₹38,000 |
| Pays nothing until the 30th | Yes, on amount outstanding | Can be reported once past due beyond 3 days | Yes |
Paying only the minimum avoids a late fee but not interest, and card interest rates are usually far higher than personal loan rates. Our guide to progressively reducing credit card dues shows a step-by-step plan.
How billing affects your credit score
Card payments are reported to all credit bureaus. A payment more than three days late can show as days past due (DPD) and lower your score; see DPD codes in your CIBIL report. High utilisation — using most of your limit — also hurts, even if you pay on time. If your report shows a late payment you did not make, use the CIBIL dispute process; the issuer must update the record within 30 days of settlement.
If you are struggling with card dues
- Stop new spending on the card and pay at least the minimum to avoid late fees and past-due marks.
- Ask the issuer about converting large purchases to EMIs and compare the effective cost.
- Consider a credit card balance transfer or a lower-rate personal loan to clear the balance; our credit card debt consolidation guide compares the options.
- Check the APR in the Key Facts Statement before taking any loan; see APR vs interest rate.
Want to replace expensive card debt with a single EMI? Compare personal loan offers from RBI-regulated lenders on FundsTiger.
Where to complain
Complain first to the card issuer’s grievance officer. If there is no reply within 30 days or you are not satisfied, you can approach the RBI Ombudsman. The Reserve Bank – Integrated Ombudsman Scheme, 2026 has applied since 1 July 2026. For more on using cards well, read our credit cards hub and RBI rules for borrowers.
Frequently asked questions
Is there a grace period for credit card payments?
Late fees and past-due reporting apply only if you are more than three days past the due date. Interest may still apply under your card’s terms if you do not pay in full by the due date.
Can I change my credit card billing date?
Yes. RBI rules let you change your billing cycle at least once through the app, net banking, IVR, helpline or email.
How long does a bank take to close a credit card?
Seven working days after dues are paid. If it delays and nothing is outstanding, it owes you ₹500 per calendar day.
Can the bank increase my credit limit without asking?
No. A limit increase, card upgrade or over-limit facility needs your explicit consent.
Do the July 2022 credit card rules still apply?
Yes. They were amended in 2024 and consolidated into RBI’s 2025 directions for commercial banks, with the core protections unchanged.
Sources
- RBI: Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct Directions, 2025
- RBI: Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022
- RBI press release: Integrated Ombudsman Scheme, 2026
Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.