Credit Card Debt: To Pay Or Not To Pay

We hear about the necessity of paying up the credit card debt in full and on time at every corner. But it is sometimes much more complicated than simply paying up. Sometimes people even think that banks don’t care about their customers. Is that really so?


The financial advisors only poor oil into the fire with their tips on how correct it is to always obey the rules. Perhaps they have a point? Perhaps paying up in full is really the necessity that’s above and beyond your other needs at the moment?

Maybe, there is a chance that you don’t need to worry at all and just pay up the fee? At times, it is simply enough to use a handy service and choose creditcards Effectify service? Let’s find out the answer together.



What happens when you pay up?

This one’s a bit obvious, yet we still have to consider all benefits of paying up in full. Your credit history will be safe and intact, meaning you have a chance for higher loans in the long run. You don’t pay the commission meaning you are only returning what you took without any additional fees. All in all, you don’t owe anyone anything and can sigh with relief.

On the downside, if you are in a bad situation, you can run out of cash. The bank will be happy, and your credit history will be safe. But what about you? Is it worth to, say, move into a worse flat simply because you needed to pay the debt and did not have just enough for the rent?

Well, if the scenario is repetitive – you should. But if the issue is not a recurring one – forget about the bank for a moment and here’s why.


What happens when you don’t pay?

Eventually you will be paying more because of the commission. Paying in small amounts will usually keep the bank happy. You can keep up with this routine for as long as you like. That’s it – there are no other consequences.

You have to remember still, that paying for the commission alone will lead you nowhere in the long run. The bank will be happy but you won’t be getting rid of it. You will pay and pay without covering the initial debt. In simple words – you will be tossing that money into a bottomless pit. Now that you know about all the ups and downs, the choice is yours – will you pay in full or can it wait for just a little while longer?