If you have been using a credit card for a while now, you would definitely be paying your credit card bills every month. Or if you are a new credit card holder, you would be worried about how to make the credit card bill payment this month.
Well, whether or not you are a new credit card user, we have listed all the online and offline ways in which you can make your credit card bill payment, step by step.
Online Methods to Make Credit Card Bill Payment
Users can make their credit card bill payment using either of the following methods-
- Mobile wallet and other Payment System
- Internet Banking
- Online Fund Transfer through NEFT/RTGS
- Auto Debit Facility
Let’s look at each of these methods and the step-by-step process involved in making payment through them-
Mobile Wallet and Payment System
With the recent developments in the online financial industry, various mobile wallets and online payment systems have started offering credit card bill payment options on their platforms. Paytm is one such mobile wallet that lets you make your credit card bill payment by following a few, easy steps which hardly take a few minutes of your time. All you need to do is follow these simple steps-
- Download a mobile payment application like Paytm on your mobile phone
- Note that you don’t need to register separately to make the credit card bill payment
- Simply log in to the application using your credentials
- Link the mobile application to your debit card or your savings account, with which you wish to make the payment of your credit card bill
- Recharge your mobile wallet and enter your credit card details
- Enter the bill amount and click on ‘Pay’ to complete the transaction
One of the simplest and most widely used methods, internet banking allows you to pay your credit card bills at any time, and from anywhere. All you need to do is follow these steps-
- Log in to your net banking account
- Click on ‘Credit Card’ option
- Next, click on ‘Register New Card’, enter your credit card details and click on ‘Submit’ (Note that you need to do this step only if you are paying through internet banking for the first time)
- Click on ‘Transact’ option and select your registered card
- Select the mode of payment and click on ‘Confirm’ to complete the process
Fully formed as National Electronics Funds Transfer, credit card bill payment can be completed within a day’s time through this method. NEFT allows its users to make credit card bill payments for any other bank’s net banking account. Using this method, you can easily transfer money from your savings account to your credit card account at the comfort of your home.
- Before you initiate the payment of your credit card bill through NEFT, make sure to add your credit card, towards which you are making the payment, as a beneficiary to your online account
- To add a beneficiary, you will need to enter details of your credit card such as credit card number, card holder’s name, IFSC code, bank’s name, branch, etc.
It will take around 30 minutes to add your credit card account as a beneficiary to your savings account. Once you are done adding the beneficiary, follow these steps-
- Log in to your online banking account
- Click on ‘Funds Transfer’ option
- Look out for ‘Transfer to other bank’ and click on it
- Select your credit card account and beneficiary
- Enter the required details and accept the ‘Terms and Conditions’
- Re-check all the details and click on ‘Confirm’ to make the payment
IMPS stands for Immediate Payment Service. As it is evident, IMPS enable instant payment/funds transfer. To make your credit card bill payment through IMPS, follow these steps-
- Log in to the mobile banking application of your account using your login credentials
- Click on the ‘Bank Account’ option and then select ‘IMPS’
- Choose the ‘Merchant Payment’ button
- Provide the required information such as MMID, contact number of the biller, along with your bank account details from which the funds are supposed to be transferred, credit card number and the billing amount
- After entering the details, click on ‘Confirm’ to make the payment
Don’t have an online account? Don’t worry! BillDesk is to your rescue. It is an online payment system that allows you to make credit card bill payment even without having an online account. For customers who don’t have the internet banking facility, banks offer BillDesk as a feature to make their credit card bill payments easier.
- To make payment through BillDesk, you need to visit the payment page on your bank’s website
- Out of the list, find whether or not your bank allows credit card bill payment through BillDesk
- If it does, you need to select your bank
- Enter details like your credit card number, email address, and bill amount
- Select the bank account from which you want to make the payment
- Click on ‘Pay’ to complete the payment
Auto Debit Facility
The auto-debit facility is one of the safest options to make credit card bill payment. This feature eliminates the risk of missing out on any credit card payment as it automatically deducts money from your linked account and pays your credit card bill before the due date (Here’s why!). If you have a net banking account, you can easily register for ‘Auto Debit’ feature and never worry about paying your credit card bill.
- Log in to your net banking account to register for the auto-debit facility
- Visit the ‘Credit Card’ section
- Look out for ‘Auto-Debit’ feature
- Click on ‘Enable’ once you locate it
- Select whether you want to pay only the minimum amount due or the total bill amount in full
- Set a maximum amount limit for auto debit (if asked)
- Click on ‘Confirm’ to enable auto debit
- The amount will be deducted from your selected bank account every month, on the due date as per the instructions set by you
Offline Methods to Make Credit Card Bill Payment
The following are some of the offline methods to pay credit card bill-
- Customer Support Service
- Cheque/Demand Draft
Customer Support Service
Various credit card issuers/banks allow their users to make their credit card bill payment by contacting their customer support staff. However, it is mandatory that users have a savings/current account with their credit card issuing bank. If so, follow these steps-
- Call the customer care number of your bank (can be found on the bank’s official website)
- The IVR would guide you through the process to make bill payment ensuring that your credit card details are secure
It is important to note that not all banks provide such a facility to their customers. So it’s better to confirm this before you go ahead with making the payment.
You can make instant payment of your credit card bill at an ATM if you have a debit card from the same bank as your credit card.
- Simply visit the nearest ATM of your bank along with your debit card
- Insert your debit card into the machine
- Select ‘Credit Card Bill Payment’ option
- Enter the bill amount and follow the prompts to complete the transaction
Over-the-Counter Bill Payment
You can walk to the nearest bank branch of your credit card issuer and pay your credit card bill. All you need to do is get in touch with a concerned official at the bank and follow these steps-
- Fill in the cash deposit slip, along with your credit card details and the bill amount
- Submit the slip, along with the cash at the counter and your payment will be processed
Another offline method to pay credit card bill is by submitting a cheque/demand draft in favour of your credit card account and submitting it at any bank branch or ATM drop box.
- The cheque/demand draft should be in favour of your credit card account
- The cheque should have 26-digit credit card number, credit card holder’s name, and contact number on the back side
Since it takes time for cheques to be processed, it is important that you consider the time and make payment for your credit card within the billing cycle.
Online or Offline- Which is a Better Payment Method?
While there are various offline methods to pay credit card bill, there are multiple reasons as to why you should pay your bill online. Explained below are some of them-
- Online payment of credit card bill is very quick and easy; hence, it save your time and effort to a great extent
- You can pay your bills online at the comfort of your home; you won’t have to take out specific time for paying the bills; hence, it is convenient and comfortable
- Online banking is secured with various steps of personal authentication such as IPIN, OTP, etc.; hence, it is quite safe and secure
- When you make online payment of your credit card bill, all the details of your transaction get recorded and is hence, instantly available for you to keep a track of your expenses
- Various features like ‘auto-debit’ ensure that you don’t miss out on your payments
- You can also customise the way you want to make your payments by selecting the minimum amount due or the full amount; hence, you have more control over your transactions
- When you make payments online, you save on a lot of paper, cheques, envelopes, stamps, receipts, etc.; hence, making your payments eco friendly
When you use a credit card, you must be more alert about making your credit card bill payment, instead of spending on your credit card. If your payments are on time, you can never go loss with a credit card, and you’ll thus be able to make the most out of this financial tool. While there are multiple ways to pay your the credit card bill, paying through a mobile wallet like Paytm is the most comfortable out of all. You simply need to link your credit card account to your current Paytm mobile application and that is it. You can also set up regular reminders on Paytm for your credit card bill payment.