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.

What is PayPal?

And how do I link my credit card or debit card?
What is PayPal?

The perfect pocket money card

  • Apply easily online
  • Use it to pay worldwide and online
  • 5,000 euro balance limit per card
The perfect pocket money card

Pay safely and securely with your credit card

Paying by credit card? It's 100% safe and secure. You are fully protected both during and after your purchase.
Pay safely and securely with your credit card

Has your luggage been lost or delayed?

KBC Brussels will reimburse you for any necessary clothing purchases up to a certain amount.
Has your luggage been lost or delayed?
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