Worried about your growing credit card debt and also your inability to manage the payments due? Don’t worry! Zee Business’ Swati Raina has some useful tips which will not only guide you to pare your dues but also help you in managing your expenses, thereby improving your credit score. So, even though a credit card gives you a great facility to buy things without having the money, you have to pay an astronomical interest rate of between 24-48 per cent on the borrowed amount.

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Credit Card Tips: Easy ways to get rid of your dues

1. You can get debt converted into EMIs

2. You can transfer balance into some other credit card

3. You can take a personal loan

4. You can take a top-up loan

5. You can take a gold loan 

6. You can take a moratorium on credit card payment

During the moratorium period, any purchases made through the credit card will incur interest. After the end of the moratorium period you may have to pay a significant amount to get rid of dues. Watch the video here. 

Benefits of taking a moratorium period:

Your credit card will not be blocked during the moratorium period.
Your credit card will not be blocked on non-payment of dues
There will not be any late payment fee during the moratorium

More important tips to use credit card:

1) Use credit cards but with utmost care.
2) Always pay attention to the credit card bill cycle
3) Avoid spending through your credit card on impulse
4) Try not to increase the credit limit of your card
5) Credit card discipline helps you maintain high credit score
6) You should take advantage of reward points and cashbacks
7) No interest is charged on transactions for a certain time period
8) Your credit card gives you a facility of EMI option if you are making big purchases through it

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9) You can get pre-approved loan in case of emergencies.