Credit Card Bill Payment is easy mostly online method. keep scrolling for more information. A credit card is a cashless payment tool that helps users meet their daily expenses, recurring expenses, and occasional expenses. it gives them the liberty of enjoying interest-free periods of 45 to 50 days.
This credit card can also be used for offline payments and online payments. Its users are to pay their bill after 21 to 25 days from the date of bill generation but they can also pay it before the due date. This will help them keep a good credit score.
Credit Card Bill Payment
If you are a credit card user, you need to know how to pay your credit card bills because you will receive bills. Your credit card issuer will indicate the minimum payment you will have to make every month and also the due date for your payment. When you make your payment on time, you will build a good credit history and in turn raise your credit score. Also, when you pay more than the minimum, the interest you owe will be reduced. And when complete your payment every month, you will avoid the interest payments.
How To Pay Your Credit Card Bills
There are different ways you can pay for your credit card bills. The various ways have been outlined below.
Internet Banking
Internet banking is one of the most convenient ways to pay your bills. If you have a bank account already with your credit card issuer, you will just need to register your credit card in Internet banking and pay your bill directly. But if you do not have an account yet with the issuer, you will have to create an online banking account to make your payments.
- Log in to net banking with your ID and password.
- Then click on the credit card tab.
- Nest, tap the “register new card” link on the left side.
- Then fill in your credit card number, the expiry date, and credit card ATM PIN and tap submit.
Bank App
log in to your bank mobile app. You will have to download the app if you do not have it.
- Locate the credit card tab
- Choose the credit card
- Then tap the “pay now” button.
- Next, choose the amount to be paid.
- Tap on “pay now” and confirm that the transfer is successful.
Cash Payment
To make a cash payment, you can go to your bank and make the payment at the counter or the ATM. But you have to find out if your credit card issuer accepts cash payments.
Check Payment
If your card issuer accepts a check payment, you can drop off the check in person. You can also follow the guidelines on your credit card statement to send a check to pay your credit card bill.
How to Pay Your Credit Card Bills on Time
Paying your credit card bills on time helps you to keep good credit and keep your account in good standing. However, there is a possibility that you may miss a payment especially if you juggle multiple bills monthly. So how do you make your payment on time to avoid a late fee penalty? Scroll down to find out how.
Create A Budget
Through your take-home pay and your ongoing expenses, you will be able to draft out how much you will be able to afford for your monthly card every month. You also have to stick to this budget so you can pay off the balance in full thereby avoiding any interest.
Set Up Automatic Payments
Automatic payments will authorize your credit card issuer to withdraw money from your bank account monthly to pay for your credit card. Your issuer can withdraw the minimum payment, the entire balance or a certain amount on your due date. This will in turn ensure your bill is paid on time. You just need to have enough money in your account so the payment can go through.
Choose A Due Date That Works for You
Some credit card issuers like Capital One authorize card users to choose their due dates themselves. So, if your card issuer allows it, you can call your issuer to request a date that works for you or you can make a request online.
Set Up Alerts for Payment
Predicting if your money will be available for automatic payments on the same day every month can be risky. So, in cases like this, you will need to set up email or text alerts to remind you of your payment date.
When To Pay Your Credit Card Bill
All credit cards have a billing cycle has a billing cycle that lasts for about a month. Then at the month’s end, your card issuer will send your credit card statement which lists your activity, minimum payment, and your due date across to you. Take note that this due date is the same every month.
Your credit card issuer will also give you at least 21 days between the date your statement is delivered to you and the date your payment is due. Then you will have to pay the minimum amount by your due date to keep your account in good standing and avoid late fees.
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