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Credit Card Payment

Credit Card Bill Payment Online & Offline

Last Updated 15th Aug 2020

6th August 2020 – RBI keeps Repo Rate unchanged at 4%

Online Credit Card Payment

Internet banking
NEFT
BillDesk
Auto debit facility
Mobile wallets

Offline Credit Card Payment

Calling customer care
Cheque or Demand draft
Over-the-counter payment
Bank ATM

Credit Card Bill Payment

Credit card bill payment is a vital process to maintain a good credit score. To better understand the credit card bill payment, you must know different methods of credit card bill payment. While paying credit card bills through online modes such as internet banking and mobile wallets are the most convenient modes of making payments, you can also make the credit card bill payment through offline methods.

Online Credit Card Payment

The Internet has made banking much easier and accessible. To make any payment, you don’t have to visit any bank but can access the banks anywhere, anytime. The online mode can also be used to make credit card payments, and presently almost every bank provides the facility of paying credit card bills online. You can pay credit card bills online by using any of the following methods:

  • Credit card payment through Internet Banking: If you are paying your credit bill online through net banking, you simply need to register your credit card with your bank. If you have an existing saving account in the bank, the amount will be instantly transferred from the account when you make the payments, and in scenarios when you don’t have a bank account with the issuer of the card you can open an account for availing the internet banking facility of the bank.
  • Credit card bill payment through NEFT: If you are making online credit card payment using NEFT (National Electronic Funds Transfer), it usually takes about 30 minutes to 24 hours for processing of payment of your credit card bill. To pay credit card bills online through NEFT, you need to add your credit card as ‘Biller’ or ‘Beneficiary.’ For adding the credit card as Biller, you need to enter your credit card details such as cardholder name, bank name, branch, address, credit card number, and IFSC code for initiating credit card payments. To make payments through NEFT, you don’t need the credit card of a similar bank through which saving account you are transferring payments.
  • Credit card payment online through BillDesk: If you are not using the internet banking facility, you can make the online credit card payment using BillDesk. Paying credit card bills online through BillDesk is easy, and payment can be made either by using the debit card of your bank or by using the internet banking facility of any bank. To make the payments, you need to create an account with Billdesk, which is a payment gateway, and add your basic information. You would also be required to add billers once you have created the account, and finally, to make a payment, you need to log in to your account each time.
  • Credit card payment through mobile wallets: You can also make the credit card payment through mobile wallets like Paytm, BHIM/UPI, PhonePe, and MobiKwik. To make the payments, you need to download the application of the wallet, log in to the account, add credit card details and link your savings account or debit card. You can also earn various credit card payment offers if you pay credit card bills on time through mobile wallets.
  • Credit card bill payment through Auto debit facility: The credit card bill payment can be made on the payment due date by using the Auto debit facility. To make the payments, you need to have the account for net banking and the bank will debit the bill of the credit card on the due date. While giving permissions to the bank for making payment using this facility, you can either mention the minimum outstanding amount or the total outstanding amount.

Offline Credit Card Bill Payment Methods

While online methods of credit card bill payment are more convenient, the banks also provide an option to make credit card payments offline. You can make pay the credit card offline by using the following methods:

Method Processing Time
Calling customer care Instant
Cheque/ Draft 3-21 days
Bank ATM Instant
Over-the-counter payment 1 working day
  • Credit card payment through customer care: The facility of credit card bill payment by calling customer care is not provided by every bank. To make the payment, you need to have the credit card of the same bank in which you have your savings account. The customer care executive will guide you to complete the process after you dial the toll-free number of the respective bank.

  • Credit card payment through cheque/ draft: If you are making credit card payments through cheque, it can take about 3-21 days. In case you have a credit card of the same bank in which you have your savings account, it will take 3 working days, and if the cheque issuing bank and credit card issuing bank is different, it can take 5 working days for processing of cheque. The outstation cheque can take longer and can be cleared in 12-21 working days.
  • Credit card payment through the bank ATM: The process of credit card bill payment through the ATM is instant. To make the payment, you need to go to the nearest ATM and make a credit card bill payment using your debit card. After entering the debit card, enter the pin of the card and choose the services option and make bill payment by choosing the credit card bill payment option.
  • Credit card payment by visiting the bank: You can also make the payment of your credit card by depositing cash in the nearest branch of your bank. To make payments, you need to fill the deposit slip with your card details, amount of the bill, and submit it at the counter. The banks usually take 1 day to process the credit card payment.

Credit Card Billing Cycle

  • Credit Card Billing Cycle is the period of time between billings. It can vary for every credit card.
  • All the credit card transactions like cash withdrawal, purchases done in the billing period will be reflected in the credit card statement.
  • You need to pay a minimum due amount towards the outstanding bill generated in the credit card billing cycle.
  • To know about credit card bill generation date, the due date for credit card payment, the minimum due amount you can check your credit card statement generated every month.
  • Credit card statements can be checked online as well as offline.

Online Credit Card Payment Benefits

If you use online credit card payment methods, you can avail the following benefits:

  • Faster processing: The online means of credit card payment are more instant as compared to the offline modes such as making credit card payment by cheque or visiting the bank. You can save your time by choosing the online method of payments.
  • No fees: The online modes of paying credit card bills don’t have any processing fees. However, if you are paying your credit card bill by cheque or by visiting the bank, you have to pay the processing fees as well.
  • Paperless: The online modes of credit card payment are eco-friendly and saves you from filling deposit slips.
  • Convenient: The online credit card payments can be made sitting at any corner of the world. You need not go anywhere to make the payments physically.

Tips while Paying Credit Card Bill Online

The process of paying credit cards bill online is fast and convenient; however, it is necessary to keep these things in mind while making any online payment of credit card bills.

  • For faster processing of credit card payment, you should use the net banking facility of the bank in which you have your savings account. Also, don’t forget to link your credit card with the net banking account.
  • It is vital to ensure that you follow all the safety measures before making payments. Always ensure that you have a secure web browser, and while making payments, don’t save any pin or passwords.
  • To avoid the late payment of your bill, you should keep a note about the processing tenure of the mode that you are using for making the payments of your credit card bill.
  • Also, make sure that you provide all the accurate information while making payments to your credit card bills. Double-check the amount you are paying before making the payment.

FAQs

Should I wait for a statement to pay by credit card?

Yes, before making any payment check all the charges on the statement.

What is the best time to pay a credit card bill?

To improve the credit score, you can ideally pay your credit card bill before the due date.

What is the minimum payment due in the credit card?

It is the small portion of outstanding principal amount which you have to pay every month on or before the payment date.

How much credit card dues should I pay?

It would be best if you either make a payment less than or the amount equal to the total amount due. If you pay more than the total outstanding amount, it cannot be reversed.

Which is the fastest method to pay my credit card bill?

The fastest way to make payment for your credit card bill is by paying cash over the counter if you want the funds to be transferred to your credit card on the same business day. Otherwise, you can also pay through online methods a few days before the due date.


Credit Card News - Aug 2020
  • 2020-08-12 : Federal Bank to launch the first independent credit card news
    Federal Bank collaborated with Fiserv, provider of payments and financial services technology solutions, to support the launch of the Federal Bank credit card. This initiative is taken to enable the digitisation of the bank end-to-end card issuance and processing cycle. The bank will also outsource associated operational processes to Fiserv.
  • 2020-07-30 : Bank of Baroda Credit Card arm strives for Digital Transformation
    BOB Financial Solutions Limited a wholly owned subsidiary of Bank of Baroda, has chosen Fiserv, Inc a global provider of payments and financial services technology solutions, to provide impetus to the digitization of their card issuance and processing cycle and aide the launch of various new and hightech products including contactless credit cards, tokenisation and integration with branded wallets and virtual credit cards.
  • 2020-07-28 : SBI Card, IRCTC launch co-branded contactless credit card
    IRCTC and SBI Card together launched their new Co-branded Contactless Credit Card on RuPay Platform. The card is striving to pursue the mission of Aatma Nirbhar Bharat, Digital India and Make In India. The new co-branded credit card provides the rail passengers maximum savings on their travel along with exclusive benefits on retail, dining and entertainment.
  • 2020-07-09 : Banks exceed digital transaction target set for 2019-20
    The government notified that 17 banks received an overall good rating for their performance on digital transactions in 2019-20, with ICICI Bank topping the list of 56 banks and closed wallets. The result is the indication of ameliorating banking services like providing retail and business loans digitally with ease.
  • 2020-07-07 : ICICI Bank surpassed 1 million users on WhatsApp platform
    ICICI Bank crossed a mark of 1 million users on its WhatsApp banking platform. ICICI Bank had introduced WhatsApp banking services three months ago to enable its retail customers to undertake banking requirements from their home in the wake of the coronavirus pandemic.
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