Manage Money

Credit Card Bill Payment Options

Credit Card Bill Payment Options for banks across India

Credit Card Bill Payment

A credit card is a plastic card which a financial company/bank issues to the users for enabling them to borrow funds from bank to pay for daily expenditures like utility bills, mobile bills or buying other goods and services on the stipulation that user will pay back the amount to the bank with an additional interest. Now the spending trend is changing from using credit card for large transactions to daily utilisation for any place where users are not able to pay by cash or debit cards because now people are having more understanding on use of credit card for moving credit and thus a single user may have multiple cards from different banks to have the provision of benefits given by card issuers.

The banks also provides line of credit (where a maximum limit of spending is set for the borrower by the bank in agreement ) which is accessible by user as long as he/she is not exceeding limit and doing minimum payments on time. Line of credit has breaking down flexibility as well in which user can request a particular amount which he or she don’t need to spend at one time rather they can customise their spending as per need and they would have to pay interest, only on the amount they borrowed. Banks issue credit cards mostly in association with Visa, Master card, Discover and American Express. Credit cards can be differentiated on the basis of incentives and rewards provided to users.

There are two modes for credit card payment out of which a user can select as per their convenience and these are further categorised into different features for usage of customer to pay their dues:

  1. Online

  2. Offline

Credit Card Bill payment
  1. Online Methods :

    As everything is getting digitised today and people are becoming tech savvy for saving cost and time, so the banks are also adapting change and expanding features online for people to use. Here are the different ways of using online payment mode

    • Net Banking:

      Net banking facility can be availed by users only after registering online. To check the outstanding of credit card and paying bills, user is required to link credit card with net banking account for which ATM pin details would be used. After linking credit card with net banking account, user would be able to check billed or unbilled transactions, due dates, reward points by simply logging in, clicking on “Credit card” tab and selecting “Credit card payment option”.

    • Via Mobile banking app:

      For this procedure, users need to download and install app in their phones. After installation users can login to app by using customer id. App has been made for the convenience of mobile users having same features as that of net banking portal, so that it may be accessible anywhere.

    • Pay online from another bank account

      It is not mandatory to have an account in the same bank, whose credit card you bought. There are different ways of paying credit card bills through other bank accounts:

      1. NEFT method: In this method user need to enter number of credit card as the payee account number to make payments. The payments which are made during working hours on weekdays get transferred on same day whereas the payments which are made after working hours get transferred on next day

      2. RTGS (Real time gross settlement) method: This method is applicable for the people who use credit card for higher transactions as they can pay the whole amount at one time, so a payment of Rs2 lakhs or more can be done at one click unlike NEFT where for higher transactions payment has to be done in batches. For carrying out this transaction net banking should be activated in other bank account too.

    • Visa Money transfer facility

      Select “Visa payment” under “fund transfer” after logging in to net banking account. To know more about the process, please contact the bank.

    • Auto payment debit

      If a user is having multiple cards, auto debit option on bank account is an option of payment for which certain instructions need to be set. This facility is used to pay minimum amount or for repaying the outstanding balance.

  2. Offline Methods

    • ECS Payment

      1. For this procedure, filling ECS form is mandatory.

      2. After filling form, visit the bank and put details of the amount need to be debited.

      3. Get it signed by the bank official.

    • Cash Payment

      Credit card bills can be also be paid at the nearest bank branch by paying processing fee.

    • Cheque Payment

      Credit Card bill payment can also be done through cheque by dropping it at the nearest ATM, after writing the credit card number and other details on it.