Owning a credit card is a necessity in the world today. You do not just have to own it; you will have to make regular and monthly payments on your credit card to get a good credit card history and a strong credit score.
Credit card bill payment is a key factor in your credit score, missing one payment can result in you paying a late fee or getting a high-interest rate later.
Credit Card Bill Payments
Credit card bill payments cannot be avoided if you make use of a credit card. You will have to pay your bills. So, how do you pay these bills? There are different ways you can make credit card bill payments. You can make payments online, through NEFT, mobile wallets and so on. You just need to choose the option that works best for you.
How To Make Your Credit Card Bill Payments
There are diverse ways you can make payments with your credit card. Some of these steps have been outlined below.
Pay Your Bill Through Internet Banking
To pay your bills through internet banking, follow the steps below.
- Log in to your net banking account.
- Navigate to the credit card section.
- If this is your first time to pay the bill, tap “Register new card” and fill in your card details, then tap submit.
- Next, choose your registered card, tap transact and select your payment style.
- Then tap complete to complete your transaction.
Pay Your Bill Through Funds Transfer Online
You can make your credit card payments online through NEFT. This payment method will allow you to transfer money from your savings account to your credit card account using any bank’s net banking account.
- Before making your payment, you will need your credit card as a beneficiary.
- You have to submit your card information.
- It may also take up to 30 minutes to add your credit card account to your savings account.
Pay Your Bill Through the Auto Debit Facility
Auto-debit will help you make your credit card payment on time and avoid late fees. Here are the steps to make an auto-debit payment.
- Log in to your Internet banking account and register for auto debit.
- Choose the credit card section and tap on the auto-debit option.
- Next, you decide if you will pay the minimum or the full amount.
- Set a maximum amount limit.
- Then confirm and activate auto debit.
- Your payment will be deducted from your account automatically on the due date every month.
Pay Your Bill Through a Mobile Wallet
There are several mobile wallets that you can use to make your credit card bill payments. Here is how to do so.
- Link your wallet app to the debit or savings account you want to use in paying your bill.
- Then add money to your wallet and fill in your credit card details.
- Fill in the amount you owe and tap pay to finish the transaction.
Pay Your Bill Through ATM
To make your credit card bill payment through an ATM, follow the instructions below.
- Visit your bank’s ATM with your debit card.
- Then insert your card into the machine.
- Tap “credit card bill payment”.
- Then enter the bill amount and follow the leadings to complete your payment process.
Pay Your Bill Over The Counter
To make your credit card payment, you will have to go to your issuer’s bank. You can search for a branch closer to you. Then you fill in a deposit slip with your bill amount and your credit card information. Submit the slip with the cash at the counter so the payment process can be completed.
How To Pay Your Credit Card Bill Payment from Another Credit Card
Do you know you can pay your credit card bill from another credit card? Yes, you can and we will show you how you can go about it.
Credit Card Payment Through Balance Transfer
If you have too much debt on your current credit card, you can use a balance transfer credit card. You have to transfer your outstanding amount to the new credit card and make your repayment with no stress.
But you need to be informed about certain things before you proceed.
- Make sure your balance transfer does not cross or take the card utilization ratio close to the credit limit.
- Balance transfer comes with a fee of 3 -5% of the transferred account.
- The card has a low-interest rate.
- A balance transfer may affect your credit card CIBIL Score.
Credit Card Payment Through e-wallet
You can pay your credit card bill through another credit card through e-wallet. To do this:
- You will have to transfer the amount you want to pay from your credit card to any e-wallet.
- Then you make payment for the outstanding bill through the e-wallet.
Credit Card Payment Through Cash
You can make a credit card to credit card payment through cash if you do not want to use any of the payment platforms above.
- You have to withdraw the amount of money want to make payment with from your credit card at the ATM.
- Then pay the money into your checking account.
- And pay the bill with the money.
Frequently Asked Questions
What Do Credit Card Bills Show?
Credit card bills display your transactions, credits, transfers, fees, interest rate, amount, and balance due date. You can also go through your credit card to ensure that all charges and payments are accurate.
How Can I Make My Credit Card Payment from Another Bank?
If you want to pay your credit card bill from another bank account, you can engage the NEFT (National Electronic Funds Transfer) system. You just have to add your credit card number as a payee and complete the transaction through NEFT.
When Should I Pay My Credit Card Bill?
It is advised you pay your credit card bill by your due date so you can avoid late payment fees and negative impacts on your credit score. You should also review your credit card statement and make at least the minimum payment by the due date if you cannot pay the balance in full.
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