Credit card debt would put you through financial situations. The credit card customer care team would be making numerous calls on your payment and it could put you restless. What can you do to handle this problem effectively?
Stop using your credit card until you pay off your debt. It may not be as easy as it sounds. But to deal with a huge credit card debt, a certain discipline should be followed.
Balance Transfer: This is one of the best options to deal with the credit card debt. Transferring the balance from one credit card to another can give you enough time to pay off the debt. However, read carefully the terms and conditions while opting for balance transfer.
EMI Conversion: When the outstanding amount to be paid is huge, you can check with the credit card issuer if it can be converted to EMI. This breaks down your total payment and puts you at ease while repaying the dues.
Paying the minimum due amount could be an easy way to manage your credit card debt for a short-time, but it will incur additional interest on the remaining amount.