Are you tired of waiting in long queues to pay your credit card bills? Or are you simply looking for a more convenient way to pay your credit card bills? In today’s world, there are different methods available to make credit card to credit card payment. In this article, we will discuss some of the most popular methods to make credit card bill payments, making it easier for you to choose the one that suits your needs.
Pay Credit Card Bill Online (The Most Convenient Way)
One of the most popular ways to pay your credit card bill is online. Most credit card issuers offer an online payment facility that you can access through their website or mobile app. You can pay your credit card bills anytime and from anywhere, making it a hassle-free way to keep up with your payments.
Steps to Pay Credit Card Bill Online:
- Visit your credit card provider’s website or mobile app.
- Choose the “Pay Bill” option from the menu.
- Enter the amount you want to pay and select the bank account from which you want to make the payment.
- Review all details and choose the “Pay Now” option to complete the transaction.
Pay Credit Card Bill Through Auto Debit
This method allows you to authorise your credit card provider to automatically deduct the minimum payment due from your bank account on a specific date every month. It makes sure that you never miss a payment. It is useful for those who forget their payment due dates. However, you should have enough funds in your bank account to avoid penalties and late payment charges.
Steps to Set Up Auto Debit:
- Visit your credit card provider’s website or mobile app.
- Click on the “Auto Debit” option from the menu.
- Enter your bank account details and authorise the credit card issuer to deduct the payment amount on the specified date.
- Confirm the details and complete the process.
Pay Credit Card Bill Through Mobile Wallets
Mobile wallets have become an increasingly popular way to pay various bills, including credit card bills. Popular mobile wallets such as Paytm, Google Pay, and PhonePe offer a choice to pay your credit card bills. You can link your credit card to the mobile wallet and can pay using the wallet balance. This method is convenient and easy, as most people always carry their smartphones with them.
Steps to Pay Credit Card Bill Through Mobile Wallet:
- Log in to your mobile wallet app.
- Select the “Credit Card Bill Payment” option from the menu.
- Enter your card details and the amount you want to pay.
- Confirm the details and complete the transaction.
Pay Credit Card Bill Through ATM
Another way to pay your credit card bill is through an ATM. Most ATMs have the option to pay your credit card bill, making it a quick and easy way to make the payment.
Steps to Pay Credit Card Bill Through ATM:
Insert your debit card into the ATM
Choose ‘Banking’ as the transaction option
Choose ‘Bill Payments’, and then go to ‘Credit Card Bill Payments’
Enter your credit card number
Enter the amount you wish to pay and submit.
Collect the receipt once the transaction is complete.
Credit Card Interest Rates
While making credit card bill payments, keeping the credit card interest rates in mind is important. It can be as high as 15% to 40%. It can lead to a debt trap if not paid off in time. The interest rates vary from card to card, and it is essential to understand the rate of interest applicable to your credit card. Most credit cards have an interest-free period. It is usually between 30 to 45 days. If you fail to pay the entire outstanding balance in the interest-free period, interest will be charged on the remaining balance.
Also Read: Check out 4 steps To Manage Your Credit Card Bills
Conclusion
Credit cards are a convenient payment option. Making timely payments to avoid late fees and high-interest charges is essential. There are various methods available to make credit card bill payments, and you can choose the one that suits you the best. Always keep the credit card interest rates in mind while making payments and pay off the outstanding balance as soon as possible to avoid the debt trap.