Credit Bharti

Credit Card 3-Day Grace Period – What Has Changed? By Rajeev Pathak May 1, 2026 In a significant move to improve fairness and helpful approaches in retail lending, the Reserve Bank of India (RBI) has introduced a 3-day grace period for credit card payments . These instructions come into effect from 1 April 2027 . Key Definitions Before understanding the rule, let’s clarify some important terms: 📅 Due Date The last date by which you must pay your credit card bill to avoid penalties and interest. ⏳ Grace Period (New Concept) A buffer of up to 3 days after the due date , during which: Late fees may not be charged immediately “Past due” tagging may be deferred 👉 Important: This is not an extension of the due date ⚠️ Past Due Status When your payment is not received on time, the account is marked as “past due” , which can impact your credit report. 👉 Under new rules, this tagging may happen after 3 days , not immediately. 🏦 NPA (Non...

  Credit Card at 70? Why does my bank say ‘No’? by Rajeev Pathak 25.03.2026 My friend applied for a credit card at 70. But the bank said, 'No, Sir'. He is wondering why his application for a new credit card was rejected by his own bank. Credit cards are an essential payment instrument in India. They offer convenience, reward points, cashback benefits, and an interest-free credit period. However, many people wonder whether senior citizens—especially those above the age of 70—can apply for a credit card. A common belief is that banks do not issue credit cards after a certain age. While there is some truth to this perception, the actual rules are more nuanced. We have gone through the eligibility age criteria of different banks. It is found that there is no uniformity in eligibility norms as regards age prescribed by different banks. Some banks have a minimum age of 18 years, while some have 21. As regards maximum age, some banks have 60 or 65 years, while most of...