Introducing Melt: A Smarter Way to Deal With Credit Card Debt
If you read our last post on the real cost of credit card debt, you already know the uncomfortable truth: credit card debt is rarely expensive because of one big purchase. It's expensive because of what happens after the interest that compounds daily, the 18% GST on every charge, the fees that stack quietly month after month.
Knowing this doesn't make the problem go away. Understanding why your balance won't shrink is only half the battle. The other half is having an actual way out.
That's why we're building Melt.
What is Melt?
Melt is a new credit card refinancing product from Equall (LTCV Credit Private Limited), an RBI-registered NBFC. Its purpose is simple: help people who are stuck paying high credit card interest move that debt into a single, structured, lower-cost repayment plan with a clear end date, instead of a balance that never quite goes down.
In other words: Melt is designed to take the most expensive debt in your financial life and make it boring again. Predictable EMI. Fixed tenure. No compounding surprises.
Why we're building this
We didn't start with a product idea, we started with a pattern.
Across India, credit card outstanding balances have grown roughly eight-fold over the past decade. A huge number of cardholders aren't in trouble because they're bad with money, they're in trouble because the mechanics of card debt are stacked against anyone who can't pay in full every month. Minimum-due payments barely touch the principal. Interest compounds from the transaction date, not the due date. Every fee carries its own 18% tax on top.
The system works exactly as designed. It's just not designed for the person carrying the balance.
We think the fix isn't another card, another offer, or another way to spend. It's a way to exit cleanly, with numbers that actually make sense on a monthly budget.
How Melt is meant to work
(Directional subject to change as we finalize the product)
- You tell us what you're carrying. Your existing credit card debt, across one or more cards.
- We assess it against a refinancing plan. The goal is to replace high-interest, revolving card debt with a lower-interest, fixed-tenure repayment, the same principle as a personal loan, applied specifically to card debt.
- You get one clear EMI. Instead of tracking multiple due dates, minimum-due traps, and creeping balances, you get one predictable monthly payment and a defined payoff date.
- The interest clock stops working against you. A fixed-tenure plan means you're no longer paying interest calculated daily on a moving target. You know exactly what you owe and when you'll be done owing it.
We're still building the full product experience, and we'll share more on eligibility, rates, and tenure options as we get closer to launch.
Who Melt is for
Melt is being built for people who recognize themselves in our last post the ones who:
- Have been paying only the minimum due for a while, and know the balance isn't really moving
- Are juggling more than one card, each with its own due date and creeping interest
- Want a real plan to be debt-free, not just a way to stay "current"
If that sounds like you or someone you know Melt is being built with exactly this in mind.
What's next
We're in the early stages, actively building Melt from the ground up. Over the coming weeks, we'll be sharing more how the plans will work, what it takes to qualify, and when you'll be able to actually use it.
If you'd like to be among the first to know when Melt is ready, join the waitlist. We'll keep you posted as we get closer to launch.
This article describes a product currently in development. Features, eligibility criteria, interest rates and terms will be confirmed closer to launch and communicated in line with RBI guidelines.