What is a statutory debt clearance period?

What is a statutory debt clearance period?

What is a statutory debt clearance period?

Your credit facility is subject to a debt clearance requirement. Before the end of the debt clearance period, you must have fully paid off the outstanding balance on your credit facility at least once so that the outstanding balance comes down to zero. That's why it's called 'debt clearance.' It is a statutory requirement under the consumer credit legislation.

If you pay off your spending in full each month, you automatically meet the requirement. If you spread repayment of your spending, you have to keep an eye out for the last day of the debt clearance period (the debt clearance date), which is shown on your billing statement and in KBC Brussels Touch.

Pay the outstanding balance off in time

If you want to fully pay off the outstanding balance at a certain time, you can easily do so by selecting your KBC Brussels Credit Card's tile in KBC Brussels Touch.

You can also do a classic transfer operation if you wish. Just use the account number mentioned at the foot of your monthly credit facility overview.

Debt clearance date reset

Once the outstanding balance has been fully repaid, a new debt clearance date is calculated. You can then see the new statutory debt clearance date on your next billing statement and in KBC Brussels Touch.

Questions on payments, cards and your card reader in KBC Brussels Touch

Find answers to problems such as having difficulty logging in on your computer, your card reader isn't doing what you expect it to do or you can't see details of one of your accounts.
Questions on payments, cards and your card reader in KBC Brussels Touch

Where to find your card number

You can find important numbers like your card or account number on your payment card.
Where to find your card number

Admission ticket cancellation insurance

Bought tickets for a festival or cultural event, but are unable to go at the last minute? KBC Brussels will refund the cost of your tickets.
Admission ticket cancellation insurance

Why use a credit card?

Do you travel abroad? Are you planning some major purchase? Or do you need to expand your budget? That's when a credit card always comes in handy.
Why use a credit card?