This is a very interesting situation, since it allows you to determine when is the right time to pay for a credit card . Which puts you in an analyst situation so that with your very personal view of the matter, you make that decision to choose according to your criteria when the credit card should be fully paid.
We have made attempts to cancel all the credits accumulated on the credit cards and it seems that they have a gypsy curse on them that prevents in one way or another that the bank accepts or allows you to get out of the game by canceling all the debt ; And we say it on a verifiable basis, since the collection system of some banks forces you to deposit for them, deducting the charges monthly and being able to charge you interest.
There is no right time for banking to pay for a credit card
This could be considered almost as a matter of honor but it is that for banks there is no right time to pay for a credit card because their business works allowing the customer to spend and consume, paying and generating interest on a monthly basis, and so on. Until the end of the payment term that ranges from 6 months to 36 months in comfortable and flexible installments.
This comfortable form of payment is unmatched or compared to any other way of canceling debts, where you know that you must pay off a certain amount of money each month and you can also make larger payments that pay off to the capital account, which will allow you to save a little money in interest and that places it in a preponderant position before the banking authorities for future negotiations.
Pay what economists recommend
Avoid overdrawing yourself for what you want most with the use of the credit card and always pay above the minimum monthly payment but pay what economists recommend and that is that the service of your debts should not exceed 30% of your monthly income, because if you get out of this economic theory, you are going to become unbalanced sooner rather than later and that will bring disastrous long-term consequences for you and your family group.
Solving the credit card is not the solution
Indeed, there are so many adverse situations in this life that you have to sit down and focus on thoroughly analyzing the possible solutions and the effects that derive from them, in order to continue to fully enjoy the advantages that credit cards offer, but pay for the credit card. Credit is not the solution but is part of the problem if you stop paying.
And we say that it is part of the problem because if we let the debts grow exponentially, then if it is true that things get too complicated, so we recommend joining efforts and paying higher monthly installments that amortize the capital in order to reduce it. the debt and regain the trust and credit limit that the bank or financial institution has offered you.
The solution exists by paying the accumulated debts on time
The existence of revolving credit allows you to acquire things and pay for necessities such as food and medicine, plus other things that credit cards allow for which you have 30 days or a little more to cancel those purchases. But do not stop paying because the debt increases very easily and if you neglect it it grows exponentially every 30 days.
Now, you are already riding on the donkey and you have to face this problem that you created for not taking into account the recommendations that we have given and that consist in that the solution exists by paying the accumulated debts on time, which is what will allow you to continue using credit cards and increasing your credit limit.
What can I do if I can't pay my credit card ?
When, due to an unforeseen circumstance such as the loss of a job , you find yourself in the position of not canceling the credit card payments as you were doing, before the work happened, what can I do if I cannot pay my credit card ? The answer to this question is that you should stop using the aforementioned card and go as soon as possible to the bank to explain your problem. Between the two, they must find a satisfactory solution for the parties so that they can find a way out that benefits those involved in the matter, that is, the bank and you.