As a user of the service credit card, we do not doubt the importance of paying the bills credit card punctual. Check out the facts to avoid burdensome debt bondage!
Credit cards have a million benefits for their users. Starting with providing abundant promotions, an attractive 0% installment program, and easy transactions that can be paid for later.
But this benefit does not mean without risk. The danger of being in debt on credit card accounts often haunts its users, especially those who are not disciplined about paying bills as they are due.
6 Reasons It’s Important To Pay Your Credit Card Bills On Time
For those of you who are still delaying paying your credit card bills for various reasons, perhaps now is the right time to set your priorities straight. That’s why it’s important to pay your credit card bills on time!
1. Avoid late fines
The first important reason to pay your credit card bills on time is to avoid charging late fees on your bills.
The late fees charged by credit card companies are no joke. Bank Indonesia expects that a penalty of 1% of the account or a maximum of IDR 100 thousand will be charged.
By paying your credit card bills on time, you can be sure of avoiding hefty late fees.
2. Lighter debt burden
The second order in knowing the reasons for the importance of paying your credit card bills on time is to ease your debt burden.
As mentioned in the first point, late payments can result in large fines and interest being added to your bill.
Inflating credit card bills definitely weighs on the amount of monthly expenses which should be avoided by scheduling the right credit card bill payments.
3. Maintain a good credit score
Not only in relation to fines, the importance of paying credit card bills on time can also be seen from the perspective of the user’s credit score.
The credit score itself is an assessment of a person’s financial credit quality. The higher your credit score, the better your chances of getting a loan.
Maintaining a good credit score can be hampered by a history of arrears in paying credit card bills.
An originally good credit score can drop dramatically if bad credit card payments are recorded, making it difficult for customers to withdraw cash from various agencies such as banks or loans. on line.
4. Debt-free inner peace
Recognizing the importance of paying credit card bills on time can also have an impact on a person’s psychological condition.
Debt paid off on time can reduce stress, improve physical condition, and boost self-confidence. Many advantages!
According to studies, it appears that paying off debt even in small amounts can increase self-motivation in managing finances better.
By paying off one type of debt, we can be motivated to make other obligations such as paying various household bills or completing bad installments.
(Read also: The right way to overcome credit card debt)
5. Help monthly financial planning
Financial planning is sometimes often overlooked to ensure that your financial condition remains healthy each month.
From here we can also know the importance of paying credit card bills on time, i.e. we can record routine monthly expenses without any additional fines.
The bills that arrive each month can be neatly recorded so that they become a reference in making financial decisions for the following month.
Conversely, if there are fines or additional interest due to late payments, your financial planning can easily be disrupted due to negligence.
6. Avoid getting trapped in credit card debt
Initially small bills, if continuously accumulated, can become a very heavy burden, especially at the end of the year.
This is the ultimate reason for the importance of paying your bank card bills on time i.e. avoiding bank card debt that is in a financial condition.
The consumptive nature combined with unpaid late fees is the main reason many credit card users are in debt.
The inability of credit card users to gauge their financial capabilities, coupled with a sense of indifference, increases the possibility of financial conditions burdened by large amounts of debt.
The danger of being trapped in credit card debt
The ease of using credit cards in everyday life causes many of its users to spend a lot without careful planning.
As a result, not a few experience the bitterness of being in debt, starting with the salary that always expires at the beginning of the month, the heavy burden of thoughts, up to the terror of debt collectors.
In order for you to be more aware of your spending on a credit card, here are the dangers of being in credit card debt:
- Fines and interest are piling up, making it difficult to pay off debts
- Bad credit scores prevent your credit applications from being approved
- Terror of creditors e debt collectors
- Join the ranks of the Bank Indonesia blacklist
- Delay major expenses to pay off credit card debt
- Difficulty meeting daily needs
- The possibility of borrowing in other institutions increases
By knowing the dangers that lurk, hopefully you’ll pay more attention to the importance of paying your credit card bills on time.
Debt problem solution
Even though they have tried hard to avoid debt, many customers have fallen into debt that has ballooned.
Knowing the importance of paying your credit card bills on time is not enough if it is not accompanied by spending restrictions.
This condition occurs due to various reasons such as meeting daily needs, following a lifestyle that is not compliant with spending, or there are undesirable events and more.
To help millions of Indonesians who have debt problems with banks such as credit cards and unsecured loans, the practice is here as the best debt problem solution for those in need.
the practice invites its users to pay off their debts by restructuring existing debts through a loan relief program so that loans can be paid off in lighter installments.
Not only helping to reorganize existing debts, the media practice also installment relief to banks carried out by banking professionals. debt management.
amalan also has an amalanPROTECT service whose success rate reaches 100% in stopping the unethical behavior of debt collectors.
With IAPDA accreditation (International Association of Professional Debt Arbitrators), the quality of the practice advisor in debt negotiation services is unquestionable.
About security? No need to hesitate, the practice has been officially registered with the OJK (Financial Services Authority) and is part of the Indonesian Fintech Association.
For those of you who are in debt with a minimum total of IDR 10 million in conventional banks and/or mortgage/KPG payments, the file is ready to help you get rid of the debt burden.
Realize debt-free hope now with practice. Click on the link below!
This article was published by: Audira Armanitya by title: Recognize the importance of paying your credit card bills on time, your wallet saves your heart calm!
If you like the information in this article, please write your opinion in the comments column.
Column comments available for discussion, sharing ideas and knowledge. Respect other readers with good and polite language. Stay on topic. Do not attack or spread hatred against certain ethnic groups, religions, races, or groups. Think carefully before posting a comment.
Please write your comments according to the topic of this news page. Comments that contain SPAM! will not be displayed until it is approved by our team.(comment nicely and politely)
IMPORTANT!!! If you want to take content from our site, please include the source of our article My Loan
Tim Editor: Omar, Shaqueena, Bilqis