Your credit card bill will typically mention two payable figures: Total Payable Amount and Minimum Payable Amount. There are three situations:

  1. If you don’t pay even the Minimum Payable Amount, your credit card company will “hotlist” your credit card, which means it will stop working. But there’s no fine.
  2. If you pay at least the Minimum Payable Amount (but less than the Total Payable Amount), there are financing and interest charges, but no fine.
  3. If you pay the Total Payable Amount (or more), there are no fines or financing or interest charges. The deferred payment facility you got is for free. There’s no question of fine.

In the case of #2, you should know that your outstandings can balloon rapidly since credit card APRs tend to be high and have compounding effect.

According to another Quora answer cited in the following tweet, it takes 7 years to pay off a credit card bill if you make only the minimum payment every month.