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What Should You Do If You Can’t Pay Your Credit Card Bill?

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Missing your Credit Card Bill is not a good thing! Even though it can happen to all of us once in a while. At that time, you will need more than having the best credit card in India to pay the credit card bill. So what to do then? This guide comes in handy for cardholders who cannot pay their monthly credit card bills. It explains how missing a credit card due date can impact your credit score.

How Does Payment Failure Affect Your Credit Score?

On-time credit card bill payment is one of the effective methods to maintain a healthy credit score. Once you fail to pay on the due date, it directly impacts your overall credit history. The credit score gets affected based on the following factors:

  • The monthly payment due amount
  • The number of days it took to repay since the due date

Since COVID-19, many people need help making on-time credit card repayments. Not paying the credit card bill for months makes things worse and directly impacts your credit score. The longer the payment remains unpaid, the faster your credit card score drops.

Helpful Tips To Follow When Unable To Pay Credit Card Bill:

Ideally, credit cards should be used sparingly. Due to the imposed high-interest rates, it becomes difficult to pay before the due date. If you can still not make your credit card payment, here are some easy tips:

#1 Pay The Minimum Due Amount

Every credit card bill comes with a credit card minimum due amount and a total due amount. If you need help paying the entire unpaid amount, you can make the minimum due payment for that month. This way, you abide by the credit card company’s bill payment policies. It ensures your Credit Score stays unimpacted. As a result, you can apply for future loans from the bank in times of need. Still, if you fail to pay the minimum due, you will be charged additional late payment fees from the bank. So be mindful of maintaining a clean credit card repayment record by at least paying the minimum due promptly.

#2 Balance Transfer With Debt Consolidation Loan

This tip is ideal for cardholders with a high Credit Card outstanding balance. It can take several months to pay off such an enormous amount, along with the additionally charged credit card interest rates. In situations like this, transfer the remaining due amount to a low-interest Personal Loan account. While the cardholder still holds the personal loan, they can repay the credit dues completely.

This tip is also ideal when cardholders deal with multiple monthly credit bill payments. It makes sense to consolidate all credit debts with a single Personal Loan. That way, the cardholder only keeps track of the loan repayment instead of struggling with multiple card payments.

#3 Avoid Paying With A New Credit Card

Just because you can avail the best credit card in India doesn’t mean you need a new one! Especially if you are struggling with credit card repayments, you should not apply for a new credit card with an increased limit.

Only spend on a new credit card once your old debts are paid off. Paying off old credit bills requires strict financial discipline. Your impulsive decision to get a new card will only jeopardise your financial plan.

#4 Contact The Credit Card Company

Before you miss the payment due date:

  1. Contact the credit card company to explain your current situation.
  2. Tell them beforehand that you are struggling to pay the credit card bills.
  3. Ask the company representative if there are any alternate ways to make a smaller payment for that particular month.

Based on how much you can pay, the credit card company will assist you in the best possible way.

#5 Consider Financial Counselling

Financial counsellors help individuals struggling with managing their finances. So the professionals can help you handle your money and monthly credit bills. In return, you can pay minimal consultancy charges and get guaranteed assistance to pay your debt on time. If you want, the financial advisor will make a detailed plan to spend your monthly income correctly. Thus you can pay the credit bills before the due date.

Key Takeaway: Paying Credit Bills Is Your Solemn Responsibility

Always remember, it’s your responsibility to clear your credit debts on time. It’s up to you to manage your monthly finances so that you can save money for a credit card payment. Always refrain from impulsive spending when you already have existing Credit Card debt. Focus on repaying the debts on time to maintain a well-supported credit payment history!

Kossi Adzo is the editor and author of He is software engineer. Innovation, Businesses and companies are his passion. He filled several patents in IT & Communication technologies. He manages the technical operations at

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