Please look below what are possible ways to pay the credit card –
1. With in 52 days, you must pay the whole amount to avoid an Interest Rate.
2. You can do phone to customer care of your credit card and can make EMI of 30,000 INR , In this case you need to pay little interest .Example – 5,500 INR per month and paying will be regularly up to 6 months.
3. You can try to pay the half amount with in 52 days and rest of the amount in other month.
4. You can divide the amount in 3 parts – Pay each month the same or more.
5.You can also use some saving amount to clear the credit card outstanding.
If you are failed in 4 possible ways and not able to make payment in max 2-3 months then Credit Card Company are charging too much from you. They are charging very high interest rate i.e. 3.5 to 4 % each month on your dues amount, and in this way your dues amount will be increasing month to month.
I take an example suppose your dues amount is 30,000 INR and you are not paid the amount in two months then 3.5 to 4 % charge (42 % per annum) would be applicable on your dues amount that is 1050 to 1200 INR which will add continue in your credit account per month and your dues and interest amount will be increased proportionally.
Some credit card company is also charging the late payment Fee, over limit Fee that is also too much which will also add along with dues amount.
If you are not able to pay the dues amount 6 months or more than that then at the last you need to pay the huge amount which would be too much now.
If you are avoiding the make payment then your credit history will demerit and you won’t get the loan in the future.
Be Aware, spend money as per your needs not unnecessary spend.
Use credit card for small purchases not for big purchases.
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