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 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 Credit Card's tile in KBC 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 Touch.

Gold Mastercard with travel cancellation insurance

Gold Mastercard with travel cancellation insurance

Get a spending limit of up to 5,000 euros a month plus online purchase protection.
Keep a close eye on your income & expenditure in KBC Touch

Keep a close eye on your income & expenditure in KBC Touch

By doing so, you know what your incomings and outgoings are at all times. You can also create goals to save up for something special.
Pay safely and securely with your credit 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.
Questions about KBC Touch for businesses

Questions about KBC Touch for businesses

See answers to questions like why you're having problems relating to your business accounts or you can't see details of your club or association bank account over which you have power of attorney.