We Financially Help For Credit Card Bill Payment

Credit Card Bill Payment is the biggest headache to all the users. Its easy to use Credit Card but hard to repay.

Credit Card Bill Payment is the biggest headache to all the users. Its easy to use Credit Card but hard to repay.

From here, The Game of Card issuing Bank begins.

It usually happens that You may don’t have funds to Pay the CC Bill on the due date. At this time you may choose the simple way of “Minimum Payment”.

But This is the worst option.

1. High-Bank Charges – if you don’t make full payment of your Credit Card bill, you’ll have to pay interest and other various other charges on your outstanding balance. It can be from 5% up to 9% as “Minimum Payment.” It is the most expensive form of borrowing.

2. Damages your credit score – Even after paying high charges as Minimum Payment, your CIBIL score effect badly. The amount of Bill is reported to CIBIL as Overdue Amount From the date of use and it affect your ability to borrow money in future.

3. Harrashing Bank Calls – If by mistake you forgot to pay even the Minimum Payment, You will have to attend the numberous bank calls. thsese calls will harrash to day and night.

4. No option for EMI – If you pay Minimum Payment, bank is never going to give you the option of EMI. Lots of people are stuck in paying mimimum payment (sometimes more than a year).