What is the rule of RBI regarding credit card?
If you don’t pay your credit card bill in full, the interest free period ends, but interest will be charged only on the remaining balance, not the entire bill. Late fees will also be levied only on the outstanding amount. The amount may be adjusted against the outstanding amount in case of refund or reverse transaction. If the outstanding amount is Rs 500, then interest and fees will be charged only on this amount and not on your total amount of Rs 20,000.