Credit Card Bill: Struggling to Pay? Follow These Smart Tips to Reduce Your Debt

The number of credit card users is high now. But sometimes, they struggle to pay the bill. If you can't pay your credit card bill, it's good to follow these tips. You'll get out of that debt quickly. 

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.

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.

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.

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.