Card-issuers can report a credit card account as ‘past due’ to credit information companies (CICs) or levy penal charges — late payment charges and other related charges, if any, only when a credit card account remains ‘past due’ for more than three days, according to RBI.
The number of ‘days past due’ and late payment charges shall, however, be computed from the payment due date mentioned in the credit card statement, per RBI’s (Commercial Banks — Credit Cards and Debit Cards: Issuance and Conduct) — Amendment Directions, 2026.
A past due loan is a debt such as an EMI or mortgage, that has not been paid by its scheduled due date, which is usually 15-25 days after the credit card spend statement is generated.
RBI emphasised that late payment charges and other related charges shall be levied, only on the outstanding amount after the due date, and not on the total amount due.
Published on April 27, 2026