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RBI Credit Card Closure Rules: 7-Day Window, ₹500 Penalty & Math Under RBI rules, banks must close credit cards within 7 working days or pay ₹500/day penalty. See 30-day non-activation, 1-year dormancy, and unsolicited card rules.
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Credit Cards
Articles tagged Credit Cards on FinWiz24 — plain-English guides on tax, GST, loans, and personal finance.
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- BlogRBI 3-Day Grace Period on Credit Cards: Fees, CIBIL & Math
Missed your credit card due date? RBI grants a 3-day grace period before banks can levy late fees or report to CIBIL. See bank charges, interest math, and what happens on Day 4.
- BlogCredit Card Overlimit Charges in India: RBI Rules, Fees & Math
Breaching your credit card limit triggers a 2.5% fee (min ₹500 + GST) and dings your CIBIL score. Understand RBI consent rules, bank charges, and how to turn it off.