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 software for KBC Brussels Touch

Which software do I need on my computer or tablet? Here you will find the detailed requirements.
Questions on software for KBC Brussels Touch

Using your debit card

Learn how to change the PIN and limits for your debit card or stop your card with our handy guide to using your KBC Brussels Debit Card.
Using your debit card

Carefree travel with the apps from KBC Brussels!

Order foreign currency, check your account balance while souvenir shopping, or top up your account to pay your credit card bill: with our apps, you can manage all your banking business and insurance before, during and after your trip. Check out our mobile travel tips.
Carefree travel with the apps from KBC Brussels!

Cancellation insurance for your credit card

If you're unable to head off on your travels or have to return home early, some of the costs incurred will be reimbursed under this cover.
Cancellation insurance for your credit card