Credit Card Payment

Credit Card Payment

Credit card bills have to be cleared on or before the due date since non payment will attract penalties. That is why banks have various options to clear the bill easily both online and offline. Let us now understand the options available both online and offline.

Credit Card Payment - Online

Purchasing and paying online is very convenient and hassle-free. Almost all banks in India provide various options to pay online. Important modes of paying via online include

1) Credit Card Bill Payment Through Netbanking

Step 1: Log into your netbanking account using your customer ID and password

Step 2: Go to the bill payment option and select internet banking as the mode of payment.

Step 3: You will be forwarded to the internet banking provision of the bank through which you wish to make the payment

Step 4: You can choose to pay the minimum amount due, the total amount due, or an amount that falls between the two.

Step 5: The payment is processed in 3 to 5 business days

2) Credit Card Bill Payment Through NEFT

• NEFT is another online facility that allows you to make one to one funds transfers across the country.
• Through NEFT, you can make the credit card bill payment of any bank using any other bank’s net banking account.
• This facility allows you to transfer funds from your savings account to the credit card account online.
• Before making a NEFT Funds transfer to your credit card, you have to add your credit card as a 'Biller or Beneficiary’.
• You may need certain details such as credit card number, cardholder name, IFSC Code for credit card payments, bank name, branch, address, etc. to include the credit card as a beneficiary.
• The IFSC code is a unique code for credit card payment. Please ensure to get the correct code before starting the payment.

Payment made through NEFT during the working hours is credited on the same day. Whereas payment made after working hours is credited on the next business day.

3) Credit Card Bill Payment Through IMPS

Step 1: Download the mobile application of your bank or NBFC.

Step 2: Use your credentials and login to the mobile application.

Step 3: Click the ‘Bank Account’ button.

Step 4: You will be provided with a link for paying through IMPS

Step 5: Click the ‘IMPS’ button and select the ‘Merchant Payment’ option.

Step 6: Enter the required card details, the billing amount, the biller contact number, and your bank account from which funds are disbursed.

Step 7: Ultimately, click the ‘Confirm’ button.

Step 8: The payment is successful

4) Credit Card Bill Payment Through BillDesk

• You can use this platform to make your credit card bill payment even if you don’t have an account online.
• You can use your debit card or the netbanking accounts of partner banks to pay the credit card bills of any bank
• Each bank has a different billdesk platform, and the payment options vary across the various billdesk platforms.
• The respective payment page will have the list of banks allowed for debit card transactions or netbanking transactions.

5) Credit Card Bill Payment Through Auto debit facility

• You can set the standing instructions on your savings/current account to auto debit the credit card payment amount.
• You can either choose to pay the minimum amount due or the full amount on or before the payment due date.
• Auto debit facility ensures that you never default on credit card bill payment or incur any late fee as long as the bank account has sufficient funds.
• You don’t have to track every credit card bill. The bill is auto paid and the amount is credited to your credit card account automatically.

6) Credit Card Bill Payment Through Google Pay

Step 1: Open the Google Pay app on your smartphone

Step 2: Click on ‘Pay bills’ and then click on ‘Credit card bill payment’.

Step 3: Choose your bank which has issued you the credit card.

Step 4: If you don’t have your account linked, against ‘No account linked’, click on ‘^’ sign and click on ‘Link Account’

Step 5: Input your credit card number

Step 6: Click on ‘Link Account’

Step 7: After linking your credit card to your Google Pay account, you can pay your credit card bill whenever you want.

7) Credit Card Bill Payment Through PhonePe

Step 1: Open the PhonePe app

Step 2: Click on ‘Credit Card Bill’ under ‘Recharge and Pay Bills’

Step 3: Input your credit card number and click on ‘Confirm.’

Step 4: After linking your credit card to your PhonePe account, you can then proceed to complete your credit card bill payment.

8) Credit Card Bill Payment Through PayTM

Step 1: Open the PayTM app or go to the official website of PayTM

Step 2: Click on ‘+Pay another card’.

Step 3: Input your credit card number

Step 4: Link your credit card to your PayTM account and then proceed to complete your credit card bill payment.

9) Credit Card Bill Payment Through MobiKwik

Step 1: Go to the Mobikwik credit card bill payment page

Step 2: Enter the credit card number and the billing amount that you have to pay

Step 3: Click on ‘Go’

Step 4: Follow the instructions and proceed towards completing your credit card bill payment.

10) Credit Card Bill Payment With Other Bank Netbanking

Step 1: Go to your credit card issuer’s third party payment page

Step 2: Input the type of your credit card and the card number.

Step 3: Enter the personal contact information like mobile number and email ID

Step 4: Enter the amount that you are going to pay

Step 5: Choose the bank that you would like to pay from the drop down menu and complete the transaction process

Credit Card Payment – Offline

You can make credit card payments through the following offline methods.

1) Credit card bill payment by calling customer care

• Credit card payment can be made by calling the respective bank’s customer care.
• Savings bank account and credit card must be from the same bank.
• When you contact the customer care of the bank, the IVR options offered by the bank would be helpful to make the credit card payment.
• Before making payment through IVR, check with the bank which issued the credit card if this facility is available.
• Payments made through IVR are instant credit card payments.

2) Credit Card Bill Payment using Cheque, Demand Draft

• Credit card number is entered against the payee’s name when the credit card payment is made via cheque and demand draft. Remember to mention name and mobile number at the reverse of the cheque or demand draft.
• There are drop boxes available in each bank’s ATM and branches where the cheques and demand drafts are dropped.
• This is the slowest payment method as it takes more than 1 week to reflect in your credit card account.
• Same bank account cheques or demand drafts take 3 working days for the credit card payment to get reflected.
• Same city other bank account cheques take 5 working days for the credit card payment to get reflected.
• Outstation cheques are cleared within 2 to 3 weeks (14 to 21 working days) of cheque or demand draft issued date.
• Be sure to keep in mind the timelines for clearance of the cheque or demand draft for credit card payment before the due date.

3) Credit Card Bill Payment through the ATM

Step 1: Walk into the nearest ATM keeping your debit card handy.

Step 2: Insert the debit card into the ATM and validate using ATM PIN.

Step 3: Navigate to “credit card bill payment” and follow the instructions provided for credit card bill payment. Credit Card payment through an ATM is instant as the amount is immediately debited from the savings bank account.

4) Credit Card Bill Payment Through Cash

• Fill the bank pay slip with the credit card details, bill amount, name of depositor and mobile number.
• Submit the pay in slip at the cash counter and receive acknowledgement from the bank cashier.
• Payment to credit card will be reflected within 1 working day.
• This may attract a service charge for cash payments made to credit cards.
• Premium customers in the bank avail the home cash pick up option to make the credit card payments with a nominal fee.
• This is not the best preferred option as this is rarely used.

Things To Keep in Mind While Paying Credit Card Bills

• Processing time - Make sure that you check the processing time of your credit card bills. The turnover time for the payment to get credited is usually the same day if you pay through net banking whereas the other online bill payment methods may take up to 1 to 5 working days.
• Check your credit card statement - Check your online credit card statement before you pay the bill. Verify the amount that you have to pay on or before the payment due date.
• Make sure to give accurate information - When you enter your credit card number, make sure that all the details are accurate. Correct and up to date information must be provided in order to avoid any issues in paying the credit card bill.

What Are The Benefits of Paying Your Credit Card Bill Online?

• Convenient: Online payments can be made from anywhere anytime. You can also make payments through your mobile or computer or any online device.
• Saves Time: Paying your credit card bill online is quick and easy. It saves a lot of time. Otherwise, you would have to spend a lot of time standing in queues in banks or visiting the ATM.
• Eco friendly: Making payments online saves paper, envelopes, cheques, stamps, and receipts.
• Easy to record: When you make your card bill payment online, every detail is recorded instantly. Information gets recorded in a more organized manner. So, it is easy to access it when required in cases such as budgeting and filing of taxes.
• You Can Choose: You can choose to pay the minimum amount due, the full amount, or any amount desired when you make online credit card bill payment. You can also change your option for each bill.

FAQs Of Credit Card Payment: