Fibe Smart Pay Offer Easy Repayment of Your Credit Card

Credit cards are a great source to finance your urgent requirements, especially when you are short on cash. However, managing a significant borrowed amount at your fingertips can be difficult. More so because it directly affects your long-term finances.

Therefore, it is important to pay your credit card bill on time without any delays. Paying your credit card bills regularly also makes you eligible to obtain credit card rewards and a good credit score. Therefore, Fibe Smart Pay is here to guide you through the process of easy credit card repayment on time.

Why is Paying Your Credit Card Debt Important?

Your credit utilisation ratio accounts for about one-third of your credit score, which is how much you currently owe compared to your actual credit limit. A higher ratio, especially when combined with a bad payment history, will severely affect your credit score. This makes it impossible for you to obtain a credit card or a loan in future.

Additionally, credit cards are known to charge some of the highest interest rates, especially when there are late payments involved. The interest is not even tax-deductible. Therefore, you will be paying a hefty price for your borrowed money. Keeping the credit ratio and late payment charges in mind, it is financially responsible to pay your bill on time. 

What is Fibe Credit Card Smart Payment?

Fibe has introduced a Smart Pay program designed to help you become debt-free. With this, you can pay off your credit card bill after directly getting funds to your credit card account. It is quite an efficient process to clear any credit card overdue.

To make things easier for you, Fibe has added some brilliant features to make the process even smoother. Here are some features of Fibe Smart Payment, such as,

• Lower interest rates
• Accumulate multiple credit card bills
• Easy transfer to the credit card account
• Easy eligibility criteria
• Simplified credit card bill payment 

How does Fibe Smart Pay work?

Fibe is now offering Smart Pay options to existing customers, via which you can clear off your credit card debts more easily than ever before. Now, you no longer have to pay the minimum due amount on your credit card and accumulate huge interest on the unpaid balance.

Instead, with your approved Fibe limit, you can pay off your entire credit card outstanding balance through a simple journey on our app. Thereafter, your new Fibe loan will be created at a 50% lesser interest than what you would have paid on your credit card.

Your credit card debt payment will be reflected in your account within 2-3 working days. Right after this is done, your SECC loan account will be created with low interest rates at your preferred tenure.

What are the Advantages of Fibe Smart Pay?

By using Fibe Smart Pay, you can clear your credit card debt while paying half the interest amount you would be paying the bank. For example, with an outstanding credit card bill of ₹50,000, generally, you would be paying an interest amount of ₹13,931 for 12 months. However, by using Fibe Smart Pay, you will be paying only ₹6,375 for 12 months. You will save approximately ₹7,196, almost 50% of your interest.

While that stands out as the main reason to opt for Fibe Smart Pay, it also has other advantages. They are:

• Fibe Smart Pay helps convert your Credit card bills into easy Smart EMI credit card debt payments, which are easy to manage
• With Fibe Smart Pay, you will be able to clear bills of multiple credit cards at once
• Fibe Smart Pay allows hassle-free direct transfer of amounts to your credit card bank
• Fibe Smart Pay offers a 50% lower interest rate than the lender

What are the Eligibility Criteria for Fibe Smart Pay?

To be eligible to obtain the Fibe Smart Pay option, you just have to check these boxes off:

• No 30+ delinquency on any loan in the last 6/12 months
• No current overdue amount on any of the loans or credit cards
• Credit card limit utilisation to be less than 85%
• Credit card balance should not exceed 5-7 times their salary
• Unsecured leverage other than the credit card should be less than 10 times
• FOIR, excluding credit card balance, should be less than 60%

It’s easy to fall into the credit card debt trap, and finding a way out of it can be hard. That’s why you should always plan to pay more than the minimum monthly payment amount. However, if you have a substantial outstanding balance, you may focus on paying it off as quickly as possible through our instant personal loan.

With the Fibe Instant Personal Loan, enjoy up to ₹5 lakhs of loan for debt consolidation or any other personal requirement without any end-use restrictions. Once approved, get the funds in 2 minutes and repay with a tenure of up to 36 months. Download the Personal Loan App or register on our website to experience streamlined borrowing!

FAQs on Fibe’s Smart Pay Option

What is the difference between a Fibe Smart Payment and a traditional payment?

With a traditional payment, you will most likely pay for one credit card at a time. But with Fibe Smart Pay, you pay multiple credit cards at a time with affordable interest rates. Moreover, the interest rate is lower than a traditional credit card, helping you save more in the long run.  

How long does it take to approve my Fibe Smart Payment application?

After you have submitted your application, it takes 2 to 3 business days to get the amount credited to your account.

Can I use Fibe Smart Payment for international transactions?

Yes, you can use Fibe Smart Payment for international transactions.