Credit cards offer convenience by reducing the hassle of carrying cash, and their long list of features makes life easy for every user. However, to continue reaping its benefits, one needs to pay the bills on time. Default or delay in payments can start a debt spiral, which can be a hard one to get out of.
The advent of technology has made bill payments a hassle-free process. With online credit card payment options, you can now quickly repay the outstanding amount and stay out of mounting debts.
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6 ways to pay credit card bills online
Here are some prominent online credit card payment options that every credit card user must know about.
1. NEFT
Similar to any other fund transfer process online, you can use NEFT to make payments for credit card bills. The process is simple; you can enter the credit card number, payment amount, and the IFSC code of your credit card issuer to make payments.
2. NET banking
In case you do not have the details mentioned above for an NEFT, you can also use the net banking process to pay your credit card dues.
3. Other payment cards
You can also use other payment cards for this purpose. The process is simple and similar to any other online transaction.
4. Mobile App
Credit card providers offer dedicated mobile applications for their users, which can be used to check on card debt, statements, billing cycles, etc. You can also use such apps to make bill payments as well.
5. NACH facility
One of the most used methods for online credit card payment is the NACH facility. Under this process, you can eliminate the hassle of manually paying the bill every month, as the amount will be deducted from your account automatically. Typically, credit card issuers offer a form that you can fill-up and submit to notify your payment card provider about this.
6. Using cheques
In case you are not comfortable with online payment options, you can always make a payment using a cheque addressed to your credit card issuer.
Points to know about credit card bill payment
Making a credit card bill payment on time is essential; therefore, here are some points that you can keep in mind regarding it.
Billing cycle
It refers to the one month period during which the transactions you make through your payment card are recorded and communicated via the monthly bill. Typically it varies from 27-31 days. Moreover, being aware of this period is essential to make the most of your credit card. You can read your credit card statement correctly to find the necessary information.
Grace period
It refers to the interest-free period for those credit card providers when you can repay the outstanding amount without any additional cost. Usually, this period ranges from 15-20 days, depending on the particular financial institution.
Minimum amount due
It is the minimum amount that you can pay to reinstate your credit limit. Typically, users opt for this facility when they cannot clear the total due amount. Moreover, it helps them to avoid paying any late payment charges.
searching for how to get an instant credit card with flexible repayment options, you can opt for the Bajaj Finserv RBL Bank SuperCard. It offers facilities like easy loan against credit cards, 50-days interest-free ATM withdrawal, to name a few.
Furthermore, pre-approved offers to make the loan application process more streamlined and time-saving. It is available on credit cards, personal loans, business loans, etc. You can quickly check your pre-approved offers by submitting your contact information.
Online credit card payment facilities allow you to opt for quick repayments and avoid any defaults. Additionally, you should also check the associated eligibility norms from your credit card application from getting rejected.
