The Credit card is a rectangular shaped, small plastic card which allows the holder to make purchases without the cash. These cards are in business from mid- nineteenth century and has gained a lot of popularity since then. It has made the life of people more relaxed and tension- free but only when it is used with responsibility. With the arrival of demonetization recently the plastic money have been a great relief for the citizens of India. The credit cards bill payments can be done both online as well as offline. It is really important to know a few points of your bill statement before knowing the process of bill payment.
The important columns in your bill which you should know:
Credit Card Number– it is the number imprinted on your Credit Card and is also mentioned on your bill.
Summary of Account- All the purchases made by you using the credit card in past one month is mentioned. Also, the details of where and how much you have swiped are also mentioned.
Payment due– The amount of payment due for the current month is mentioned in your credit card bill, also if any previous payment is due then it comes under Balance payment.
Minimum Amount Due– it is mentioned in the bill which is the minimum amount that you can pay for now if you are unable to pay the entire amount. The remaining amount then transfers to the next bill and comes under balance payment. On such amount, the interest rate is charged as well.
Available Credit limit- it is the remaining credit amount of your credit card so that you can use it further. It is the total credit available to you subtracted by the credit used.
Applicable Interest Rate– the interest rate is charged if you have only paid the minimum amount due. The remaining amount will be carry forwarded to the next bill and interest will be charged.
Payment due date– it is the date up to which you can make the payment. If you miss the payment date then interest will be charged.
Payment of the Credit Card Bill Online:
With the introduction of the internet, the lines have vanished outside banks or any institution for the payments of various bills. It has made easy for people to pay anything from the comfort of their home. Most of the banks have the option of online payments. Various means of online payment include-
Online Banking- you can fill the application for the online banking and can activate your account for the same. After obtaining an IPIN, you are ready to use the facility. Then you can see all the details of your credit cards and select “pay credit card bill”. Enter your account number, amount to be paid and other options to make the payment. It is the fastest mode to access as you get the clearance immediately or on the same day.
Mobile Apps- Uses of mobile is very common in today’s time. Various banks have come up with their own mobile applications which connect with the customer anywhere and everywhere conveniently. You are just a click away from clearing your mobile bill. Ypu have to select the credit card, enter amount and make the payment.
Debit Card– The customer can go to the bank portal, select their card type, enter all the details asked and verify through the payment gateway to complete the payment.
Other Portals- The banks have tie-ups with other companies which channelise the payment through their websites. Click on such portals and follow the instructions.