In the post-demonetisation period, with more individuals looking to avail credit cards, the total amount of household debt is recording all-time highs. Without a solid payment plan, individuals can fall into a debt trap caused by mounting credit card debts.
To avoid the same from happening, you can avail of a few methods through which you can finish your credit card payment faster. These methods help to ensure that you pay off your credit card bills on time and minimize the risk of defaulting payment.
One of the convenient methods of paying off credit card debt is by converting the due amount into EMIs. With EMI, you do not have to pay off the entire amount at once, thus making it easier to pay the due amount.
If you use the RBL credit card payment, you can also avail the balance transfer facility on it and club all your credit card dues under a single card. By doing this, you only have to pay a single EMI every month instead of multiple ones. Also, the interest is levied on a single outstanding amount.
Apart from this, you can use methods like paying off the dues on cards with a higher interest rate first, talking to your card issuer, etc. to avoid falling into a debt trap. You can also follow comprehensive payment plans like converting your credit into the personal loan on your Bajaj Card, automated payment options, etc. to make sure that you pay off your dues on time. However, make sure that your card allows you to avail of these facilities.
