What will happen if someone doesn't pay their credit card bills in India?

To be very honest,For only credit cards banks can’t do anything, But it’s only for credit card bill,not for personal loans.


Let me tell you reason as well,According to supreme court & RBI guidlines banks can charge you auto 14% interest annually but in cr cards banks charge 3.5% monthly si in gross they are charging 42–48% annually which is not according to RBI guidelines & that’s why they can only call you for 6–12 months for paying your bills & then ask for settlement,If you pay 25–50% then they will give you NOC.

Drawbacks are you won’t get loans in your life because your CIBIL would be very low & second & last thing is if you don’t settle an account then through court bank can file a case on you but chances are pretty less & usually banks do when amount is high like more than 10 lakhs otherwise banks settle the case.

Let’s talk about last thing, Nobody can send anyone for their bill recovery.It’s banned by supreme court in 2014 now it’s illegal,Earlier companies(Banks) use to give their account to some parties & they use to go, threat or beat defaulters but now no body does it,If someone does then go to supreme court & file a FIR and that company will have to pay 2–5 lakhs fine so that’s the reason nobody does gundagardi now.

I have seen couple of person who did not pay credit card bills they got numerous calls and letters from bank but never got arrested by banks. Even my one cousin did not pay 13 lakhs in 2011 for 8 credit cards from different banks & he only got calls from bank side,not more than that.

I want to add 1 more thing because i got more than 1.5 lakhs view,people might think that i am promoting that don’t pay the credit card bill but I am not doing it, I am using 6 credit cards for last 6 years but haven’t missed any payment,made all payments on time so kindly spend wisely & pay honestly.

Otherwise you won’t get loan ever in your life because your cibil would be low.