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Credit card bills
As credit card use grows, bills become a burden. Many struggle to pay the full amount. Pending bills lead to late fees, high interest, and a drop in your CIBIL score.
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This is what happens if you don’t pay the bill
If you miss the due date, banks charge late fees and high interest (36-42%). After 30 days, it’s reported to credit bureaus, lowering your score and hurting future loan chances.
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Convert to EMIs
Pay the minimum due to avoid late fees, though interest still applies. Call customer care for a repayment plan. Converting the bill to EMIs is a popular option with lower interest.
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This is the last option
For dire situations, debt settlement is an option, but it heavily damages your CIBIL score and should be a last resort. It’s better to act early and control your spending.
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