With technology, everything has become quicker, easier and more efficient. This includes how credit cards work and the way people pay their credit card dues. Gone are the days when people had to visit bank branches every month to pay their credit card bills.
Now, one can pay their dues sitting in the comfort of their home within no time. Unsurprisingly, a vast majority of credit cardholders prefer making their credit card bill payments online today. In this article, we will explore how you can make your credit card payment online in a matter of just a few minutes.
There are numerous ways of paying your credit card bill online, and you can choose the one that’s most comfortable for you. These include:
- IMPS (Immediate Payment Service)
- NEFT (National Electronic funds Transfer)
- RTGS (Real Time Gross Settlement)
- Net Banking
- Auto Debit Facility
- Mobile Wallets
- UPI (Unified Payments Interface)
- Bank or Credit Card Company’s Mobile Application
Due to so many online payment options available, it becomes extremely convenient for credit cardholders to make their credit card payment. Moreover, when one payment method isn’t working, one can easily switch to another method and pay off their dues quickly. In today’s fast-paced world, the young and savvy consumer wants things done at a lightning-fast speed. So, out of the above payment methods, we will discuss the fastest ways of paying credit card bills online.
Auto Debit Facility
Many credit card issuing companies provide an auto-debit facility to their customers. With this facility, credit card users can have their credit card payment debited automatically from their bank accounts on the payment due date.
If you have net banking activated on your bank account (savings or current), you can subscribe to the auto-debit facility. This is the fastest way of paying your credit card bills, as you don’t have to do anything to make the payment.
This facility allows the user to instruct their bank to debit their savings or current account in favour of their credit card bill on a date of their choice every month. While subscribing to this facility, you have the option to select either the minimum amount due or the total outstanding amount to be paid automatically.
Registration for this facility can be done through your net banking account, your bank’s mobile application, or through a written request at your bank branch. Once you’ve registered, this facility will be effective from your next payment due date. The due amount will be credited instantly on your chosen date every month.
UPI (Unified Payments Interface)
This is another fast method of payment that allows you to make your credit card payment with just one click of a button. There are several UPI apps that allow you to make instant, secure payments. These include different bank’s BHIM UPI app, Google Pay, and Paytm to name a few.
Another benefit of using this method is that you don’t need to register separately on any UPI platform to pay your bills. All you need to do is just download an app and link your bank savings account to it. To make your credit card bill payment, begin UPI payment from your UPI app, enter your credit card bill payment UPI ID, verify the name, and enter the bill amount and complete the transaction using the UPI PIN.
Both of these are the easiest and quickest ways of making bill payments. However, you need to be mindful of a few things while paying your credit card bills. Before making the payment, check your online statement and ensure the charges made on the card are correct.
Moreover, check the exact amount you need to pay on your due date. Additionally, provide accurate information to the mobile application through which you’re making the payment. Make sure you enter the correct credit card number, bank account number and other details.