What Happens If Credit Card Bill is Not Paid?

Credit Card
1

Do you know what happens if I dont pay my credit card Bill? What are the consequences?

2

You fall into a debt trap. Trust me you wouldn’t want that.

Let me explain this spiral to you.

Imagine you have a credit card due amount of Rs. 100000.

  • If you decide to delay the payment, you will face a late fee.
  • For future transactions, you will be charged interest immediately. NO GRACE PERIOD FOR YOU.
  • Your debt will grow further.
  • Debt collectors will start bothering you. They will call you incessantly.
  • You might get blacklisted for non payment of dues.
  • You may get into legal trouble if the lender or bank presses charges against you.
  • Your credit score will take a solid hit which will further impact your eligibility for a loan.

So think about it, is it really worth not paying a credit card bill?

If I were in your place, I would try to clear the debt as soon as possible. Just for the sake of my peace of mind.