Credit Card Bill: Did not pay the credit card bill in full? What will happen now? How to avoid charges..

Today, everyone is using a credit card. The reason for this is that it gives attractive reward points and cashback. You can spend first and pay later through it. Due to this feature, more and more people are using credit cards today.

But often people make mistakes while using it. Users do not pay the full amount of the credit card; in such a situation, they have to pay a heavy penalty. Today, we will learn how to get rid of these charges or penalties.

Usually, the part of the credit card bill that you do not pay is carried forward to the next month. But the bank charges a fee or penalty on whatever balance you have left. For this, different banks fix different charges. You also have to pay 18 percent GST on these charges. The bank charges these fees until you make the full payment.

You can also pay the remaining amount in the balance by dividing it into two or three parts. By doing this, you will be able to pay them in less time. But as long as the balance remains, you will have to keep paying the charges.

Transfer the balance
If this balance amount is very high, then it can also be transferred. You can transfer it to such a card, on which the bank does not charge a penalty. But what if there is no such option on your credit card?

Convert the payment into EMI.
Many banks also give the option of EMI for the remaining amount of the credit card bill. You get this option when the balance amount is very large. However, even after doing this, you have to pay processing fees and interest charges. Therefore, before taking this option, you should check the interest charges, period, etc.

Option of a personal loan
If you do not want to pay the charges, there is no option for a balance transfer, and you have to pay more charges by paying through EMI. In such a situation, you can choose the option of a personal loan. This can be taken when your balance amount becomes a burden on you.

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