If you have more than one credit card then you can transfer your credit card bill or amount to another card.
In the Corona era, many people have to resort to credit cards to run their expenses. In such a situation, the credit card bill of the people has increased, which they are facing difficulty in paying. If you too are not able to pay the credit card bill due to lack of money, then do not take tension. We are telling you some such measures, which can prove to be effective in paying your bill easily.
Transfer card balance to another credit card
If you have more than one credit card then you can transfer your credit card bill or amount to another card. If you transfer the outstanding amount to another card, you get a different credit period. In such a situation, you get extra time to make the payment without increasing the interest.
Convert bill to EMI
When you make any purchase with a credit card and do not pay the bill on time, then your CIBIL score gets spoiled. To avoid this, you can convert your credit card bill into EMI.
With this, you will have to pay extra interest for a few months, but it will be much easier to pay the bill. Usually the bank charges an interest charge of 2% per month on converting the bill into EMI. Paying bills on time will not spoil your CIBIL score.
Pay minimum bill
In case you cannot pay the credit card bill together, you can opt for the option to pay the minimum due on the credit card bill. With this, you will have to pay the minimum amount of the bill i.e. about 5%.
You will get additional time to pay the remaining 95% amount. However, the remaining amount will come along with 3-4% interest in the next billing period.
Personal loan option is also there
You can also take a personal loan to pay the credit card bill. With this you will be able to pay the bill instantly. Although you will also have to pay the installment for taking a personal loan, but you will get enough time for this.
Avail Reward Points and Cash Back
Avail your reward points and cashback if the credit card issuing bank has not yet generated the bill. You can use these to pay credit card bills.
Make credit card bill payment through credit card
Usually credit card option is not there while making credit card bill payment. But with the help of Paytm app, you can also pay your credit card bill through credit card. For this, you have to first add money from your credit card in your Paytm Wallet. However, for adding money to Paytm Wallet with a credit card, an extra charge of 2.07-3.07 percent has to be paid.
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