Ways To Pay Your Credit Card Bill

By BankBazaar | December 18, 2015

Paying your Credit Card bills

Paying your Credit Card bills regularly is extremely important. It not only helps you stay debt-free but also affects your CIBIL score. Paying only the minimum amount due, partial payments and late payments negatively affect your CIBIL score. Instead of lowering your CIBIL score due to all these reasons, make sure you sort your finances out such that you always opt for full payment of the billed amount.

Also, paying bills isn’t much of a hassle anymore, with so many options available for payment. What options you ask? Well, here’s a list of options you can use to pay your Credit Card bill.

Net Banking

You can register for Net Banking with your bank and transfer the outstanding amount online. All you have to do is link your Credit Card to Net Banking. It’s time to say goodbye to late payments!

ATM Funds Transfer

You can visit your bank’s ATM and transfer the outstanding amount from your Savings or Current account to your Credit Card account. This can be done anytime and anywhere in India.

NEFT

You can transfer money from your bank account to any Credit Card account electronically using NEFT. To use this facility, you need to enable Net Banking and Third Party Funds Transfer. Also, your Credit Card provider needs to have enabled to receive payment via NEFT.

Auto Debit

You can download an Autopay form from your bank’s website and opt for auto debit of the full billed amount or the minimum amount due. Every month, on the date specified by you, the amount chosen by you will be deducted automatically by the bank from your account, and will be credited towards your Credit Card account. So you no longer have to keep a track of your Credit Card bill. Even if you forget, your bank will take care of it for you! Sounds simple, right?

Visa Money Transfer

This facility allows you to transfer money from your bank to any Visa Credit Card issued in India. The funds are usually credited within 3-4 working days once you request the transfer. A nominal fee is applicable for using this facility. Also, the per transaction limit using Visa Money Transfer is Rs. 49,999.

Phone Banking

In case you are unable to use net banking, you can call your bank’s phone banking helpline and request a money transfer from your bank account towards your Credit Card bill.

Cheque and Cash payment

You can drop a cheque at the dropbox available at your bank’s ATMs and bank branches. Alternatively, you can walk into your bank’s branch and pay your outstanding bill using cash. Remember, over-the-counter cash payment involves a cash processing fee.

Well, now that you know all the different options to pay your Credit Card bill, online as well as offline, we hope you pay your bill on time. Don’t forget that late payments affect your Credit Score!

 

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