How to Pay Credit Card Bill?
Credit card is an excellent facility for purchasing any item without any payment at that time. A credit card provides a discount on products from the company too. It helps to build our credit score. But all the facilities mentioned above would be real if I pay the credit card bill in a set interval of time.
Many of us fail to make payment of credit cards in time due to unawareness of different secure methods of payment of credit card bills. The credit card company provides a smooth process of credit card payment through an online route. Some of the prominent links for credit card payment are- SBI online, HDFC net banking, ICICI net banking, Citibank credit card payment, Axis bank net banking, IDBI net banking, etc.
Now to know the exact amount of credit card payment, one can use the credit card pay off calculator present in the bank web site. It is advisable to make the credit card dues payment in full under an allotted interval of time.
Image Source: MC2 Honey Nixon, CC-BY-SA (https://commons.wikimedia.org/wiki/File:I%27m_loving_it_–_debit_card_at_the_Guantanamo_McDonalds.jpg)
“We as research and analysis-based company assure you to provide information beneficial for customers, in spite of being a seller of credit card of different financial Institution, we like to declare non-biased and honest information sharing”
Payment of Credit Card Bill Through E-Wallet
E-wallet is one of the convenient methods to pay a credit card bill. It is simple; you can make the payment by your smartphone itself. Following are few popular e-wallet gateways-
Pay Credit Card Bill Through Paytm Wallet
- Log on in your Paytm account, click on “Paytm wallet” available on the top left of the screen.
- Go to add money and enter the amount you want to transfer.
- Select the credit card option for the transfer of funds.
- You will go to the secure payment page.
- Complete as directed related to OTP etc.
- The money will now be transferred to the Paytm wallet.
- Select the money transfer option again and fill the option transfer to the account.
- Provide the account number and other details.
- Now again repeat the step of the secure payment page, finally, the money will be transferred to your account from credit card.
- Transfer of money is free of charges up to a certain period, Paytm charges 2% per transaction, and KYC of a customer must be there.
Pay Credit Card Bill Through Google Pay (Tez) Wallet
- Once you subscribe to Google Pay, it will ask your mobile number, all the account, i.e. bank account, debit card, credit card linked to your mobile number; you can connect through Google pay.
- For credit card bill payment, select your account from where you want to pay the credit card bill.
- Google pay is available with 2000 merchants.
- Go to payment mode.
- Select transfer to the self account.
- Select your credit card already reflecting on G pay.
- Proceed for payment.
Pay Credit Card Bill Through PhonePe Wallet
- Download the Phone pay app and open your account by providing your phone number.
- Your bank account and credit card must have the same phone number.
- You have to generate your UPI pin, it is a six-digit number, can be created in the PhonePe app.
- All your accounts, i.e. bank account, credit card, and debit card, will start reflecting on the app.
- PhonePe wallet is useful as it allows you to pay credit card bills up to the due date.
- It gives you multiple alerts of the deadline for payment.
- Select your account from where you want to debit the money.
- Select the payment to your credit card.
- Proceed for payment after providing the UPI pin already generated.
Payment of Credit Card Bill Through Net Banking
Credit card bill payment can be made taking the help of online banking. Credit card bills of the same bank or even the credit card of another bank can be cleared by net banking. Let us look at it a little closely, how to make the credit card bill payment by a different bank.
Pay Credit Card Bill Through HDFC Net Banking
- Log in your HDFC net banking or mobile banking account.
- Click the transfer of Fund tab.
- Select the NEFT payment option.
- Select the payment to the credit card option.
- Enter the credit card number and Bank IFSC code.
- Proceed for payment after providing OTP.
Pay Credit Card Bill Through ICICI Net Banking
ICICI provides a customized page for their credit card payment. Click to pay option is most comfortable and less time-consuming method for the payment of ICICI credit card.
- Log in through click to pay option.
- Provide your credential and credit card numbers.
- Initiate payment.
- Once your card is entered, for next time payment of credit card would be much more comfortable as the card details are saved by the system.
Pay Credit Card Bill Through SBI Net Banking
- Log in to your SBI net banking.
- Go to the payment of bill option and select the credit card payment.
- Enter the 16-digit credit card number instead of the bank account number.
- Fill bank name as SBI credit card-NEFT
- Proceed for payment after mentioning the credit card bill amount.
Pay Credit Card Bill Through Axis Net Banking
- Go to Axis bank credit card bill pay page.
- Log in to internet banking.
- Go to payment tab and select credit card.
- Enter the credit card number and bill amount, proceed for payment.
Pay Credit Card Bill Through RBL Net Banking
Three simple steps can make the RBL bank credit card bill payment.
- First, you have to enter the RBL credit card details.
- Select your bank account; it will be reflecting there.
- Confirm payment amount, proceed for payment, and get the confirmation of payment notice.
Pay Credit Card Bill Through Another Bank Credit Card
Payment of credit card bill from other bank credit card can be made by following simple steps.
- Through e-wallet – First, you have to transfer the amount of money to e-wallet from the credit card,
- You can use paytm, googlePe or any other wallet as per your convenient.
- Enter the credit card number and amount of bill; you wanted to pay.
- Proceed for payment
Payment of Credit Card Bill Through Cheque
- It is effortless, you have to first issue a cheque in favor of Credit card- 16 digit number.
- Drop the cheque in the dropbox of the bank or cheque processing machine.
- But this method is not favored by people as you require to move and do physically.
Payment Of Credit Card Bill Through Debit card
- Whether you pay the credit card bill by debit card or bank account, finally it will be debited in checking account.
- Bring the required money to any e-wallet from your debit card.
- Make the payment of credit card by entering the bill amount.
Payment Of Credit Card Bill Through ATM
- Payment of credit card bill by ATM requires that your credit card and bank account should be in the same bank.
- After entering the PIN in ATM, you have to select services.
- Go to bill payment.
- Choose the credit card.
- Enter the 16-digit credit card number. Your amount of bill and minimum amount for payment will appear on the screen.
- Select the payment option.
- Fill the amount you want to pay and click pay.
How to Pay a Credit Card Bill With Cash?
- Credit card bills can be paid by cash or through cheque, but for that, one has to visit the nearest branch of the credit card provider. Cash payment has a disadvantage that an additional amount of GST requires to pay. It is advisable to make the payment online through a bank fund transfer facility.
When to pay the Credit Card Bill to avoid the Interest payment?
It is advisable to pay the bill a few days advance of the day of the deadline of the grace period; it helps us to refrain the risk of interest payment. It’s better to set your mobile on alert mode for the credit card payment deadline. We make the purchase of different items on different days of the month; thus, the grace period for multiple purchases could be different; better to maintain a diary on the use of credit cards to avoid additional interest payments.
Why do the Interest Rate of Credit Card Bill Increase Unexpectedly?
- Our research and analysis show that most people fail to make the credit card bill payment due to unawareness of the exact deadline of the relaxing period.
- Unawareness of different secure methods of bill payment is another reason for the non-payment of the bill in the provided time interval.
- Recent research by Sumit Agarwal of the University of Singapore has reported surprising trends; further, it said that many costumers are paying a minimum monthly amount of credit instead of paying the full amount. It increases the interest rate unacceptably as it compounded monthly.
- Another point which Agarwal report says that people, instead of increasing the credit limit of their one card, they are keeping the multi number of card of different bank and borrow the money from a different card. It increases dept much.
- If you want to know about the different convenient, time-saving ways to make the payment of credit card bill, then you are requested to focus on the information shared in the below lines.
- It is advisable to pay the credit card bill within the due date.
How Safe is the Credit Card Payment?
- Credit card transaction are secure with the latest security feature.
- Do not write your PIN anywhere, it is not difficult to keep four number pin in our mind.
- Do not make a password by yours or family members name.
- Always use your credit card on the web site you trust.
- Do not use your credit card on public places internet network.
- Protect your computer and smartphone by using anti-virus and anti-spyware.
- Use the reputed company antivirus software.
Credit card payment in time is essential to avoid interest payment. You can pay the bill online, through visiting ATM or even by cheque. Credit cards are safe and protected by the latest security feature.
Credit Card Bill Payment FAQs
Q1. What if a payment goes to the wrong destination?
Ans- Do not worry, immediately you have to complain about your bank online. Meet the manager of the bank with the money transfer related reference. The manager will contact the authority of another bank to return the money to your account. But there is no guarantee of a refund. Please do your transaction carefully; otherwise, it will unnecessarily kill your time.
Q2. Where to complain if you feel some wrong bill entered in the credit card statement?
Ans– There is a grievance cell of every bank, for example, SBI grievance cell, ICICI grievance, etc. You can complain online and keep the complaint number for follow up. Usually, matter resolved in a week.
Q3- What to do if you are not getting the billing statement well advance in time?
Ans– As per RBI norms, banks should provide on line the complete information of purchasing done by customers well in advance time such that customers can pay the bill in the grace period. If any bank is not following it, one can complain to the grievance cell of the bank.
Q4. What is the rate of interest in a credit card?
Ans- You have to pay interest after the grace period of the expenses through credit card. The rate of interest varies in different credit cards. Usually, it varies from 2 to 2.5% per month. If you fail to clear the credit card bill interest for 60 days, keep paying the only minimum amount of bill. Then bank charges go very high.
Q5. What is “protection against fraudulent charges” in a credit card?
Ans- For any fraud on credit card transaction bank provides extra security on your credit card. For that, you have to opt “Protection against fraudulent charges” initially when you apply for a credit card.