0
0
Timely credit card bill payment ensures access to credit limits and elevates your profile as a borrower. Additionally, it lowers any additional expenses in the form of late payment charges or bearing interest on the outstanding amount. So as a user you need to know a few things about the bill payment process of a credit card that can help you in the long run.
Essential Considerations to Keep in Mind During Credit Card Bill Payment
-
Remember Your Billing Date
You must pay your credit card bill within the due date. Otherwise you may pay an excessive interest rate for the late payment. Additionally, it will reflect negatively on your credit score. Thus, be aware of the credit card billing date to avoid such circumstances.
See more information ODIdea.net
-
Pay Your Lowest Bill Balance
Due to some financial emergencies, you may not be able to pay your credit card outstanding completely. In that case, you should pay the minimum due amount, which will decrease the interest burden. Also, you can acquire some time to arrange the rest of the money to clear your credit card pay.
-
Clear Your Dues Before Expensive Purchase
You should clear your other dues before purchasing an expensive product through your credit card. If you have outstanding on your credit card/cards, then you may miss out on certain offers.
-
Online Payment Modes
You can use other payment cards or UPI facilities to repay your credit card debt without any hassle. Ideally, paying online or using a credit card app like the OneCard app enables you to schedule your payment, which helps you complete it without fail.
-
Offline Payment Modes
You can choose the offline payment methods to pay your credit card bill. You can visit your lender to pay the bill through cheque or demand draft or call the customer care to learn more about the process.
-
Link Your Credit Card to Your Net Banking Account
You can link your credit card with your savings account to pay your credit card bill. This way, you can manage all the credit cards through one account, and it helps you to streamline the whole process and plan your finances better.
-
You Can Pay More Than Required
Sometimes, you may pay more than the due amount by mistake. But you don’t need to worry; the additional amount will be adjusted with the following bill.
-
EMI Options
You can opt for EMI payments for your credit card bills, which will help you divide the billing sum into small amounts. The OneCard app allows you to manage your EMIs efficiently from the EMI dashboard.
-
Read Your Billing Statements
It’s necessary to read your credit card billing statements before a payment. Through this, you will be aware of if there is any error in your bill and get it rectified before paying.
-
Ensure That Your Bill is Paid
Always check the final confirmation from the lender about your credit card bill payment. You will get the confirmation through email or SMS, and you must contact the customer representative immediately if you don’t receive it.
Conclusion
So you need to manage your credit card smartly and obtain the best results, and the foremost step in this process is to pay the credit card bill without fail. So use the information to your benefit and avoid any financial distress.
