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Does the Moratorium Rule Apply to Credit Card Bill Payment?


  • According to the RBI’s Guidelines, 3 Month Moratorium is Applicable to the Credit Card Bills.
  • See the Advantages of Suspending the Credit Card Bill Payment for 3 months.

Recently, after the lockdown and Coronavirus outbreak, the Reserve Bank of India has given certain guidelines to overcome the financial problems of the country. In the latest RBI’s update, it is clearly mentioned that individuals having any kind of retail loan can skip the payment of EMIs for 3 months and it won’t affect the Cibil score of the individuals. But there many individuals who are in the dilemma whether 3 Months Suspension is applicable to the credit card bills. Therefore, the RBI gave a confirmation that 3 months moratorium rule also applies to the credit card bill payment where you can skip the repayment of the credit card bills for 3 months. There are certain advantages of this leverage that you can see here.

How the 3 Months Moratorium will Help Credit Card Users

The moratorium is a legal term that simply means a legal authority given to the debtors to postpone the payment. In other words, you can skip the payment of the credit card bills for 3 months and it will not be going to affect your Cibil Score and the bank will also not impose any late payment charges. Let’s have a look at some of the advantages of this facility.

CIBIL Score Remains the Same:- Usually, if you not pay the credit card bill amount then your Cibil Score starts decreasing. But according to this guideline, your Cibil score will remain unaffected although you skip the credit card bill payment for 3 months by choosing the Moratorium period.

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Sufficient Time to Clear the Dues:- After the lockdown, there are many people who are going through the financial crisis, and unable to pay the credit card bills. Therefore, the 3 months leverage will give you enough time to arrange the funds and clear the full credit card bill after 3 months.

Removes Financial Burden from the Credit Card Users:- In this hard time, fulfilling the necessities becomes the first priority of every individuals. So, this leverage given by RBI helps the individuals to save money by not paying the credit card bills and utilize that fund in buying the necessities.

Adverse Effect of the 3 Months Moratorium Period

There is an adverse effect on the 3 months Moratorium period. It only says that your Cibil Score will not be affected even if you skip the payment for 3 months but the bank continues to charge interest on the outstanding amount of the credit card. It is clear that after three months you have to clear the credit card bill but you’ll also have to pay the interest that accrued within the period of 3 months on the outstanding amount. Therefore, if you are capable enough to clear the credit card bill then pay it on time rather than delaying it by 3 months and giving an extra amount of interest.


Now you have got your answer that 3 months moratorium periodapplies to the credit card bill payment and it is up to you whether to take the3 months leverage or pay the bills on time. You can see the advantages of themoratorium period but it has an adverse effect on the individual. So restdepends on you whether to enjoy 3 months moratorium or to pay the credit cardbills on time and get rid of paying the extra interest after 3 months.

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