credit cards

The credit card is the one-stop solution to all of your financial needs. It not only enables you to materialize your spending plans without investing money out of pocket, but it has a solution to your exigent cash needs as well. However, you need to be regular with the credit card bill payments. Irregularity in this regard will not only compel you to pay the penalty for late payment but, more importantly, shall have the most adverse impact on your credit score. If that happens, the prospects of getting any loan in the future stand blocked. 

Here is Your Guide to Paying Credit Card Bills on Time

How to Pay Your Credit Card Bills Through Neft? 

NEFT is one of the most common ways of paying credit card bills digitally. This payment option facilitates instant clearance, and the RBI monitors the process. However, the card issuing organization needs to be NEFT-enabled for the user to pay credit card bills through this digital method. It is a completely secured credit card bill payment option, and the digital process enables you to pay from anywhere and at any time. Thus, you get to escape the chances of late payment, attracting hefty late payment fees. 

Paying Credit Card Bills Through Internet Banking 

Another simple method to pay credit card bills online in a timely and hassle-free manner is to pay them through internet banking. It is another secure method of paying bills online and hence is one of the most popular options for paying credit card bills. You need to register for credit card internet banking on the provider’s website to avail of this facility. The best part is that you need not pay additional fees to avail of this facility. 

You Can Pay Credit Card Bills Through the Nach Facility 

Do you tend to forget the bill payment due date? It is obvious if you pay a good number of bills every month. But forgetfulness is not a good virtue in this context. To eliminate this problem, you should set up the NACH payment option that will automatically debit the payable amount from your account for payment towards the credit card. It will help you maintain regularity with your payments; thus, your credit score and history will keep improving gradually. On-time payments will also fetch your enticing rewards. You can avail of this facility by registering for the NACH payment with your bank. 

Payment Through the Banking App 

Banks have their apps to facilitate seamless contact with their customers. You can avail of various services through banking apps. One of the best ways to pay credit card bills on time is to pay them through banking apps. The app will have a section for credit cards, and you will find all the credit card information there. Thus, you can keep tracking your usage at all times. You can pay your credit card bills through the bank app. Users can even set up an auto-debit facility that automatically pays the credit card bill on the due date. Thus, you can escape the hassles of remembering the due date every month, ensuring monthly repayment on time. 

Traditional Ways to Pay Credit Card Bills 

In addition to the methods discussed above, there are various traditional ways to settle your credit card bills on time. You can make the payment in cash. You need to visit the nearest bank branch and deposit the payable amount into your credit card account by providing your name and card details. However, in some cases, your bank will likely charge additional service fees for paying credit card bills in cash. You are welcome to pay the bill by cheque as an alternative to cash payment. You should draw the cheque in the bank’s name and provide your name and card details to process the payment. Banks have dedicated Bill Desks to receive credit card bill payments. You can pay through cash, cheque, and UPI at the bill desk, and you will receive payment confirmation instantly. 

Credit card bills always display two amounts- the total payable amount and the minimum amount payable. As for the standard credit card payment guideline, the purpose suffices to pay the minimum amount due. If you pay the minimal amount by the due date, you can escape the challenge of paying penalties and getting your credit score impacted negatively. However, sticking to such a minimum payment option, you will only pile up debt, and if you continue to do so, you will take the minimum time to find yourself in a debt trap. Hence, you should always pay the total outstanding amount on the bill at a go so that you don’t accumulate debt on your shoulders. 

Regularity with credit card bill payments makes you eligible for higher loan amounts at the lowest interest rates and various other financial benefits in the future.

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Noah Patel
Noah Patel is a finance specialist with over 10 years of experience in the financial industry. He has worked with a variety of clients, including individuals, small businesses, and large corporations, to help them achieve their financial goals. Noah's expertise includes financial planning, investment management, risk management, and retirement planning. He is dedicated to helping his clients make informed financial decisions that align with their long-term objectives. Noah is a frequent contributor to financial publications and has written extensively on topics such as personal finance, investing, and financial planning. His mission is to educate and empower individuals to take control of their financial future. When he's not working with clients or writing, Noah enjoys traveling, playing tennis, and spending time with his family.