Credit Card Bill Unpaid? Beware These 5 Major Risks!

• High interest (30-45% annually) and late fees are immediately applied, causing the outstanding amount to grow rapidly.
• Consistent non-payment severely damages your credit score, making future loans or new credit cards difficult to obtain.
• Banks will initiate recovery efforts through calls, messages, emails, and notices to remind you of the payment.
• Prolonged non-payment can lead to your account being declared in default, negatively impacting your financial record.
• For high outstanding amounts, banks may pursue legal action; if unable to pay, contact the bank for EMI, settlement, or restructuring options.