Today in this article we learn about how can we pay Credit Card Bill Payment online and offline so read this article at the end for better understanding.
How To Pay Credit Card Bill Payment Online?
There are many ways available to pay your Credit Card Bill Payment you can do it either online or offline. Here the following are the ways to pay your credit card bill online.
- Internet banking
It is one of the most common ways to pay your credit card bill online. You just need to visit the bank’s official site and register your credit card with your bank account. If it is already linked then just select the credit card bill payment option and pay it.
Through NEFT you can pay your Credit Card Bill Payment online via any bank account. You just need to added your credit card as a beneficiary and full fill all the details as instructed like cardholder name, card number etc. within 24 hours the beneficiary will be added and then afterwards you can transfer your bill amount through NEFT.
To make payment through IMPS you need to visit your mobile banking app and then select the IMPS options then fill all the box with correct informations. After filling all the mandatory boxes now you are able to make payment via IMPS,.
- Auto debit option
Auto debit is a convenient option for paying your credit card bill online. To activate auto debit, when you are applying for your credit card online then you can added your bank details and a particular date of month so the billing amount will be automatically debited at that particular date. You can also activate it by using your net banking.
- Through a bank mobile app
You can also pay your credit card bill through your bank mobile app by using UPI or bank transfer.
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How To Pay Credit Card Bill Payment Offline?
Here are the list of offline payment gateways,
To pay your credit card bill through NAACH first you need to download the NAACH form from online. Then fill the from offline and submit it with a cancel check in your bank.
Another offline bill payment option is via cheque. Just write a cheque in favour of credit card issuer then give the 16 digit credit card number and deposit it in your bank.
You can pay your bill by direct cash just visit your bank and pay your billing amount in the cash counter or deposit it in the ATM machine.
How to receive credit card payments?
In case you are a business owner and frequently get the payment from customers through credit cards then you need to connect your system processor with the system configuration application.
After you confirmed your payment gateway you can now able to use Subscriber Management to make customer accounts for those customers who paid the bill by using credit cards. You can also run a payment job by using Business Operation to receive credit card payments.
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Is it ok to carry forward credit card bills?
Yes, if you want to carry forward any month’s credit card bill amount you can do it. To carry forward your bill you can see there are two options available balance forward and other open items.
When you select the balance forward option from accounting you can be able to carry forward your current month’s credit card bill including all the other charges you owe. This even includes any previous billing cycles.
But if you choose the open item accounting you have to pay only the charges from the overall bill items in the current billing cycle.
Can someone else pay the credit card bill instead of the cardholder?
Yes, a cardholder when creating or editing a billing unit in Subscriber Management can select another account instead of a payment method. This process is called a billing hierarchy.
How to handle failed payments?
In case when you try to pay your bill through online if there is any network issue or troubleshoot happened you can just suspend the payment and reallocate it. To solve this kind of issue you need to go to the Suspending and correcting payments option.
How many days are a credit card’s free period?
After getting the credit card bill there are some free days offered by the bank and this time period is called a credit-card-free period. If you do not want to pay any extra charges then you need to clear your bill within these free period. A credit card-free period is a maximum of 20-25 days from the date bill is issued. After that one needs to pay an extra charge for late payment.
Why it is important to pay your credit card bill on time?
Credit card bill payment is an important part if you want to make a good credit score. It has a great impact on your creditworthiness also. Let’s check out the positive side of paying the credit card bill on time;
- If you want to upgrade your credit score the first thing you can do is pay your bills on time. After getting your monthly bill statement you need to pay your amount within the credit-card-free period to keep increasing your credit score. As credit score is based on your credit card bill payment consistency.
- Another advantage of paying your credit card bill on time is, if you pay your credit ca bill on time you can ignore the debt-collecting agencies. As of today, maximum credit card issues hired different debt-collecting agencies to recover unpaid bills.
- When paying your credit card bill on time you can also avoid the late fee that different credit card issuers charge when someone does not pay the bill in time.
- One of the major issues that you can avoid by paying the credit card bill on time is, if you do not pay your credit card bills on time then the interest rate of your bill is getting increased very quickly. And along with the bill amount you need to give these extra interests on your bill amount.
Is missing a single payment can affect the credit score?
A credit score is an important aspect for those who need to repay any loans or ascertain their creditworthiness. And this credit score is mainly based on the consistency of your bill payment timing. A single credit card bill payment missed can decrease your credit score.
Not only that if you have a lower credit score banks can not accept any loan request from a lower credit score holder. It also makes a great impact on the credit card limit, a lower credit score can reduce the card limit. Sometimes the bank does not offer any higher credit cards for those who do have not a good credit score.