Credit card payments not payed for last 3-4 months - how should I now increase my credit score ? How will it affect me ?

[Tushar Wagh]

I haven’t paid my credit card bills from last 3-4 months due to some family issues.
Since then, My credit card score has been dropping since from 820 to 650 directly within these 3-4 months. I wasn’t capable to pay those bill.
But now I have arranged some funds. Should I pay it directly or should I make it in EMI so that my School should grow gradually?
Are there any options or suggestion that you give so that I could increase my credit score?
Looking for help!

 

[Anindya98]

I haven’t paid my credit card bills from last 3-4 months due to some family issues.
Since then, My credit card score has been dropping since from 820 to 650 directly within these 3-4 months. I wasn’t capable to pay those bill.
But now I have arranged some funds. Should I pay it directly or should I make it in EMI so that my School should grow gradually?
Are there any options or suggestion that you give so that I could increase my credit score?
Looking for help!

Pay the maximum amount that you can pay
Don't apply for any new credit card for a minimum of 6 months, your score will gradually increase
don,t spend any more using your card till you repay the full amount.

 

[Skylar]

I haven’t paid my credit card bills from last 3-4 months due to some family issues.
Since then, My credit card score has been dropping since from 820 to 650 directly within these 3-4 months. I wasn’t capable to pay those bill.
But now I have arranged some funds. Should I pay it directly or should I make it in EMI so that my School should grow gradually?
Are there any options or suggestion that you give so that I could increase my credit score?
Looking for help!

Credit cards typically have high interest rates, so it’s advisable to avoid EMI. Be prepared for your credit score to drop, possibly reaching around 590 to 610 due to missing payments within the last 90 days.
Repay outstanding balances in full. Be aware that missing payments can impact your eligibility for new credit cards for the next 3/5years; you may be limited to secured loans like home loans or gold loans.