A credit card is one of the most utilized modes of payment in the modern world. People have changed the habit of carrying the stacks of cash for every purpose and started utilizing the safest and modern way of payments. It is called as the credit cards.
It is one of the rectangular shaped card made out of plastic with few things etched on them. It is one of the products that are offered by the Credit cards company to help the people to opt for better, convenient and easy way to pay for the services utilized by the cardholder.
It is a type of loan for a short tenure which is given by the company to use the services then after reaching the due date it has to be cleared by the cardholder. All the details about the expenditure made within the time and the amount that has been spent via it come in the statement via credit card bill payment.
It is necessary for the cardholder to clear the dues regularly for smooth and hassle free services provided by them. Below in the article, you can read about various columns mentioned on the bill statement and the method to pay the bill.
The important columns in your bill which you should know:
There are several things that are mentioned on the bill statement provided to the cardholder which sums up all the expenditure made by the customer and detailed information regarding it is given by them.
Credit Card Number- it is the number imprinted on the Credit Card and is also mentioned on the bill.
Summary of Account- All the purchases made by you using the credit card in past one month is mentioned. Also, the details of where and how much the user have swiped are also mentioned.
Payment due- The amount of payment due for the current month is mentioned in the credit card bill, also if any previous payment is due then it comes under Balance payment.
Minimum Amount Due- it is mentioned in the bill which is the minimum amount that can be paid for now if the user is unable to pay the entire amount. The remaining amount then transfers to the next bill and comes under balance payment. On such amount, the interest rate is charged as well.
Available Credit limit- it is the remaining credit amount of your credit card so that you can use it further. It is the total credit available to you subtracted by the credit used.
Applicable Interest Rate- the interest rate is charged if you have only paid the minimum amount due. The remaining amount will be carry forwarded to the next bill and interest will be charged.
Payment due date- it is the date up to which the user can make the payment. If the payment date is missed then the interest rate will be charged.
Payment of the Credit Card Bill Online:
With the introduction of the internet, the lines have vanished outside banks or any institution for the payments of various bills. It has made easy for people to pay anything from the comfort of their home. Most of the credit card companies have the option of online payments. Various means of online payment include-
Online Banking- You can fill the application for the online banking and can activate your account for the same. After obtaining an IPIN, you are ready to use the facility. Then you can see all the details of your credit cards and select “pay credit card bill”. Enter your account number, amount to be paid and other options to make the payment. It is the fastest mode to access as you get the clearance immediately or on the same day.
Mobile Apps- Uses of mobile is very common in today's time. Various banks have come up with their own mobile applications which connect with the customer anywhere and everywhere conveniently. You are just a click away from clearing your mobile bill. You have to select the credit card, enter an amount and make the payment.
Debit Card- The customer can go to the bank portal, select their card type, enter all the details asked and verify through the payment gateway to complete the payment.
Other Portals- The banks have tie-ups with other companies which channelise the payment through their websites. Click on such portals and follow the instructions.
Thus, Credit card bill payment is required to be paid so as to have a smooth and hassle free services. It is necessary to continue the maximum benefits from the credit card.
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