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If my credit card balance is zero do i still have to pay

 If my credit card balance is zero do I still have to pay?

If my credit card balance is zero do i still have to pay

For credit card users, you must be familiar with the term over limit or zero credit card. This condition is a condition where the use of the credit card that you use exceeds the limit provided by the credit card issuing bank.

How could that be? Yes, usually this happens because there are outstanding bills that have not been paid off in the previous month.

If your credit card transaction is rejected because it means that it has exceeded the transaction limit, or has been accepted with an over limit fee that you have to pay. If rejected, you can contact the issuing bank to ask for a temporary limit increase so that your transaction can be run and accepted.

However, to be able to get a limit increase is also not arbitrary, you must be able to prove that you are an active credit card user, disciplined to pay bills, have a clear address and have a relatively low debt ratio.

Because banks also have to maintain a low non-performing loan ratio. Therefore, not just any customer can get the limit increase facility.

Each issuing bank has its own policy regarding over-limit credit card fees. But what is certain, the fees that must be billed are calculated from the excess limit, not from the total amount owed.

So when you experience an over limit, the percentage fee for paying the over limit is around 5%, but you can contact the credit card issuing bank for more information.

But as much as possible avoid credit cards that are over limit, because it will only increase your financial burden.

If I exceed the limit, what should I do if my credit card is zero?

If your credit card balance is zero, there are several ways you can avoid being burdened with credit card debt for a long time.

 Here's how to solve a zero credit card balance

1. No other way, pay the bill

When you continue to delay or even pay credit card bills with minimal installments, then you have the potential to experience a zero credit card balance. Therefore, immediately pay off your credit card bill along with the over-limit fee in the following month.

Try to pay bills that are larger than the minimum payment, so that you avoid over-limit fees in the future.

2. Temporarily stop credit card transactions

You can stop using your credit card temporarily until your bill is paid off. Because if there are still outstanding bills, it is feared that you will forget to remember the remaining balance owed so that in the following month you will pass the limit again. So reduce the use of credit cards for a moment and focus on paying off the credit card debt you have.

3. Use the balance transfer facility

Apart from that, you can also use a balance transfer service or transfer your billing balance from another bank to get a lower interest rate. But make sure the interest given is lower than what you currently use.

Because usually the interest given is promotional interest within a certain period of time. Now you can use it to pay off immediately during the promotion period. Remember, use credit cards wisely so you don't experience over credit card limits again

Starting from credit cards, loans without collateral, business capital loans, instant loans, emergency loans, loans with collateral to tuition fee installment programs.

That way, if your credit card balance is zero, you don't have to bother collecting the required financial product information from various financial institutions, such as Lion, which provides free loans with an interest limit of up to 0.8%. Access now and get capital easily.