While you use your credit card to pay your mobile bills, electricity bills, shopping expenses, grocery costs, etc. the amounts sum up in your credit account as due. These bills are cyclical in nature. This means that the bills get generated every month, and reflects the details of all the purchases and payments made through it for that particular duration only.
Customers are liable to pay these amounts along with the credit card interest rates at the end of a month. With a variety of benefits, credit cards issuers have also facilitated various modes of bill payment to help the customers.
Unlike the traditional way of visiting the office to clear the bills, users these days opt for the online mode of doing so. Credit card bill payment has become ten-fold easier with the introduction of online facilities.
Due dates on credit card bills
Issuers usually provide a 21 to 25 days window for the users to pay their card bills. It starts from the date on which the bill is generated. Suppose, if the bill is generated on the 5th day of a particular month, the issuer might set the payment due date between 25th and 30th of that month.
Users can actually avoid accruing credit card interest rates on their outstanding dues. Interest-free period is the span between the date of generation of the preceding bill and the due date of the next month. You can look for various convenient and smart ways to pay your credit card bills after utilising this interest-free period to your benefit.
Different modes of credit card bill payment
- Through the NEFT OR RTGS facility- Credit card interest rates and dues can be paid through NEFT (National Electronic Payments System) or RTGS (Real Time Gross Settlement) facility. Although the payment instructions through this facility might vary from one company to another, you will have to provide your credit card number and payee account number to initiate the credit card bill payment.
- Using the net banking facility- You can pay your credit card bill using the net banking facility. Once the card is registered with your net banking account, you can directly pay the dues online. For customers who do not have a savings account, a net banking account will have to be opened for bill payment.
- BillDesk platform- BillDesk gateway is an online payment platform through which users can make payments without having an online account. People who do not use net banking can use the BillDesk platform to pay credit card bills.
- Auto-debit option- Many issuers allow the auto-debit facility on payment of credit card dues. It requires a user to provide the account details from which the credit card due and credit card interest rates will be automatically deducted at the end of every month. This facility eliminates any chances of an individual missing payment deadlines.
- Via mobile wallets
Several mobile wallets can be used to make credit card bill payment. It does not require extra registration formalities to make the payment. Once you have the particular mobile wallet app downloaded, you can pay the monthly dues conveniently.
If you wish to pay your credit card dues through the offline mode, you can do so through a cheque, demand draft, or by directly visiting the issuer’s office.
Before availing a credit card, people often overlook the bill payment terms. Along with checking credit card interest rates, you must also look for favourable payment norms as well. You may opt for the Bajaj Finserv RBL Bank SuperCard to avail this facility as well as other unique benefits offered by the financial institutions.
Bajaj Finserv provides pre-approved offers on credit cards and other financial products for their existing customers. These offers look to simplify the application formalities for you and better your chances of successfully availing a credit card. You only have to share your name and phone number to check your pre-approved offer.
Credit card bill payment has to be done on time to re-activate the actual credit limit. In case of defaults, a certain late fee is charged on the outstanding amount. Over time, the penalty charges along with the unpaid bill amount could end up in a lump sum amount. It is advisable to pay the outstanding amount in full for every month’s due.
