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10 Ways To Quicken Your Credit Card Loan Payments

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February 23, 2023


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Picture this! Sale season is here, and you have shopped and stocked up your wardrobe or groceries using a credit card. And it has totalled to a significant amount. How do you plan to pay it off?

It's time to smartly assess your credit card loan and pay it up wisely! Here we will be discussing 10 easy ways that will help you with this ordeal.

What Is A Credit Card Loan?

Credit card loans are pre-approved loans that don't require you to submit any documentation or collateral. These unsecured loans are based on your credibility, credit rating, usage, history, and repayment. 

Credit card loan interest rates may vary from 12 – 29%, and the loan disbursal may come with a nominal processing fee. Now, here are some recommended ways to help you lessen your burden!

10 Ways To Make Your Credit Card Loan Payment

Check out these simple steps, which will help you make your credit card loan payment quickly and easily!

1. Write Your Credit Card Loan Down, Assess, And Plan

The first step is to create a list of your debts, interest charges, minimum payments, and annual fees on each loan. Assess this list and plan how you would pay them off with your limited income.

2. Prioritise

After your list is ready, prioritise the urgency based on the charges incurred and the interest charged by each debt category. If you are paying high interest on your credit card loan, make it the first on your list to pay up.

3. Smarten Up Your Payments

When planning your debt payments, ensure these are directed to paying off the principal amount rather than the interest. Once your highest-charged loan is paid up, move on to the second debt on your list.

4. Convert Your Debt Into EMIs

So, let's say your total debt amounts to INR 50,000. Instead of being complacent and paying the monthly EMI of INR 2,500, bifurcate this amount into 10 instalments, and pay up to INR 5,000 every month. Paying extra every month will help you lessen the burden faster.

5. Balance Transfer Your Credit Card Loan

One of the smartest ways to pay your loan faster is to transfer your credit card loan to a new card with the help of a balance transfer. This may offer an interest-free period or lucrative deals that will reduce your financial burden.

6. Consider A Loan

Another bright idea is to take another loan, which offers a lower interest, to clear off this high-interest credit card loan. It is not a bad deal to take a new cheap loan to pay up an expensive one.

7. Increase Your Income

If you have a new stream of income flowing your way, you can easily allot the extra earnings to pay up your debts and carry on with your monthly budget for all necessary things.

8. Pause Your Investments

Investing your income in mutual funds or other investments while you have debt waiting to get cleared is not wise. Pause your savings for some time and focus on getting your debt to zero. This will give you extra room to save up when you are debt-free

9. Restrict Expenses

The golden rule to becoming debt-free is to control your expenses. No matter how tempting a vacation looks, don't plan until you have cleared your existing loans.

10. Always Pay On Time

Paying your charges on time will help you avoid penalties and extra interest charges. The idea is to minimise debt by paying on time and avoiding a debt trap.


These were some of the most convenient ways to make your credit card loan payment faster. These steps will help you build your credit score effectively and mitigate the credit card loan interest if followed prudently.

Instant loans, now truly personal

Fi Money provides instant personal loans through licensed partner Federal Bank that arrive directly in your savings account. These are pre-approved personal loans made available to select users with good credit scores.

On Fi, this process is 100% paperless, and the credit card loans are provided at competitive interest rates — where each user remains in control with complete visibility of all details. You can also set up automatic in-app payments. Our RBI-licensed partner bank assigns an eligible loan amount to each user (up to ₹5 lakhs).

Frequently Asked Questions

1. How do I clear my credit card loan?

Follow the recommendations mentioned above and clear your credit card loan easily and quickly so you can prepare for the coming season's sale shopping!

2. Is taking a loan on a credit card good?

Credit card loans are pre-approved, unsecured, and don't require additional documentation. You can avail of them for immediate cash requirements.

3. Can you get a loan on a credit card?

Getting a credit card loan depends upon your credibility, repayment, usage, and credit/payment history. If you have maintained your finances well, you will surely be eligible for a credit card loan.


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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