Credit Card Bill Payment | What will the bank do if the credit card bill is not paid?


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If you have also forgotten to pay your credit card bill (missed credit card payment), then you must be aware of what harm it can cause. Will the bank downgrade your credit score or block your credit card ?

Friends, due to incomplete information we have to face many problems. Here we are going to discuss about the problems that you will face if you miss your credit card payment. (problems if you missed credit card bill payment)

What if bill is not paid (what if missed credit card payment!)

Friends, if you are using a credit card then you will definitely receive your credit card bill with the date of bill.

And even if you have used the card for the first time, there is no need to worry.

Today here we will give you complete information about what action will the bank take if you have forgotten to pay the card bill?

If this is the first time that you have not been able to pay the card bill on time, then this is an opportunity for you.

 The bank will not damage your credit score or block your credit card outright.

Friends, if you have missed your card bill for the first time, then the bank will charge you some additional fee as penalty.

This means that you have to pay some additional amount along with your monthly bill as late payment and additional ROI.

Grace period and due date of bill

Often, after the bill is implemented in the card, some additional time is given, which we call grace period, it varies from bank to bank, which can be 15 to 25 days.

If you are not able to make the payment even till the last day of this grace period (bill due date) (which is your due time), then the bank here also charges late payment from you along with the bill.

Often the late payment (penalty) may vary depending on the amount of your bill.

If your final bill has a large amount, this penalty may be higher than your current expenses.

It can range from Rs 500 to Rs 5000 and you will also have to pay monthly interest on your bill, which may vary according to the country and bank.

In India, this ROI is around 3.40% per month. That is why if we do not pay the money on time, our bill keeps increasing like the mouth of Sursa.

What will the bank do (bank action if missed payment)

If you are making regular late payments on your card and if it continues for 3 to 4 months then the bank will track your credit line (credit report / bill transactions) or it will check your credit score . Can influence.

If you have not paid your card payment for 2 – 3 months then the bank will block your credit card. Also, the amount of your bill will increase significantly due to continuously charged penalties and interest. 

How to avoid this (How To Save Your Credit Score?)

In such a situation, if you are not able to pay your credit card bill, then the best way to save your credit is to convert this amount into easy installments.

If you are not able to pay that huge amount, the best way is to pay the minimum payment (5% of the total bill) (minimum card payment).

Or you can convert the balance into EMI. Here you have to pay only the additional interest along with a small processing fee.

With minimum payment, you will not pay late payment penalty, you will not have to pay late payment penalty if you pay the minimum amount and your credit card will also remain active.

So that you can use it again when needed. Nor will there be any harm to your credit score. 

Friends, if you have missed payment from your credit card for the first time, then quickly pay that amount to the bank. So this will not affect your credit score and the card will not be blocked.

Additional Tips: (tips for credit card bill payment)

If your bank account and credit card are from the same bank, then you should use the auto debit facility of the bank.

With this, the bank will take payment from your bank account on time. But while using this service, keep money in your account as per requirement.

If your savings account and credit card are from different banks, then pay the money 2 to 3 days before the due date.

Sometimes it may take up to 2 days for your credit card bill payment to be updated in the bank, in such a situation you may face some problems.

In case of paying the minimum amount, pay the bill before time.

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