New Delhi, July 3 -- During a medical or any other financial emergency, in the absence of an emergency fund, an individual may use their credit card to tide over it. Once the emergency is resolved, the individual may arrange the funds and clear the credit card outstanding. However, what if no funds are available to clear the credit card bill?

In this article, we will discuss the charges that a bank levies on carrying forward the credit card outstanding and whether an individual should take a personal loan to repay it.

When a credit card bill is generated, the individual can pay the minimum amount due (MAD), the total amount due, or any other amount. If an individual pays the MAD or any amount more than the MAD but less than the total am...