How to Maintain your credit card balance and due amount?
Maintaining a certain balance on your credit card is vital for your credit score. It shows you that you are worthy of lending. But sometimes, it becomes difficult to keep track of your credit card spends and you may tend to exceed your credit limit. What can you do to keep track of your credit card usage and how can you check your credit card balance and due amount? Read on to know more about it.
How to check credit card balance online?
This is the simplest and most convenient method to check your credit card balance and to do this, you need to be registered for the net banking facility provided by the credit card provider. With the credentials, you can log in to your account and view your credit card balance and due amount.
Besides checking your credit card balance, online banking allows you to view your account information, pay your credit card bills and keep track of your transactions. You can register for E-statements which can be accessed according to your wish anytime online. You can also create an archive of your E-statements and access them whenever you like.
If you do not have a computer, you can use your smartphone to log in through the app or web browser to access your credit card balance and due amount.
How to check credit card balance through SMS banking?
This is another easy way to check your credit card balance and due amount. SMS banking allows you to receive banking information from anywhere and anytime.
Besides checking your credit card balance and due amount, you can also get information related to rewards points, available credit limit etc.
How to check credit card balance through customer care?
If you have no internet banking facility or SMS banking, calling up customer care is the best choice. You can speak with the representative of the bank over the phone and get the information you need. The customer care professional will ask you for your personal and credit card details for verification. It might take a little longer as you may have to go through the menu to reach the representative.
What are the points to be considered for first-time credit card users?
As a first-time credit card user, it is important you are informed of some of the things related to credit card usage.
- Credit Limit
Your credit card comes with a certain spending limit up to which you can purchase anything you wish. For example, if your credit card limit is INR 20,000, you cannot purchase anything beyond that limit. If you try to do so, it will not be validated.
- Interest Charge
You will be paying extra money as interest if you do not make the payment on time. Interest is also charged on your outstanding balance if you only make a part payment on your purchase.
- Late Payment Fee
You will be charged a penalty if you are not even able to make a minimum due amount before the due date.
- Cash Withdrawal
You can withdraw a certain amount from ATMs just like a debit card. However, it does not come free. For each transaction, you will be charged a specific percentage of your transaction amount.
Keeping track of your credit card spends not only improves your credit score but also helps you manage your finance efficiently. Check your credit card balance frequently to maintain a low balance, and more importantly pay your bills on time.
1. How can a person check the credit card balance and amount due through offline mode?
The offline mode of checking the credit card balance and amount due requires the cardholder to visit the nearest branch of the bank and get the necessary details from there.
2. Can the cardholder pay the minimum amount due for the credit card?
Yes. The cardholder has the facility to pay the minimum amount due to keep the card active. However, cardholders cannot escape the higher interest that is levied on the balance to be paid by them.
3. What is the outstanding balance on a credit card?
Outstanding balance on a credit card is the amount due for the purchases made using the credit card. This outstanding balance is to be paid by the due date to avoid a high penalty.