It is important to pay your credit card bill on time and duly every month. Learning the best way for you to pay your bill will help you avoid missing the payment due date and incurring penalties. Paying your credit card bill can be a hassle if you don’t know what you’re doing. Banks usually offer a variety of payment modes for customers to make payments. Some of the instruments you can use to pay your credit card bills are cheques, demand drafts, cash, debit cards, and other bank’s credit cards. You can make payments via the following methods which include Internet banking, NEFT, ATMs, drop-boxes, bank branches, post, and other online portals.

Online Credit Card Bill Payment

The Internet has simplified the way we bank. Making payments on your credit card has never been easier. Almost all banks in India have the facility of Internet Banking, and the smaller banks who do not are jumping on the bandwagon to provide the same convenience to its customers. The following are the online credit card payment options:

Credit Card Bill Payment by Online Banking

To pay credit card bill by online banking follow the below steps

• Activate your online banking account which is secured with an IPIN.
• You can then login and view your credit card purchases, statements, payment dues dates and outstanding amounts.
• Select the credit card and click on “Pay credit card bill now”.
• You can then select the bank account to be used, enter the amount you wish to pay and make the payment.
• Online Banking is the fastest way to pay your bill as the turnaround time is usually immediately or on the same day.

Credit Card Bill Payment by Debit Cards

This option is available with some banks such as ICICI Bank via its portal Click to Pay. With this facility, customers can select their card type, enter the card number and verify the payment through a payment gateway. The transaction is processed immediately.

Credit Card Bill Payment by NEFT/IMPS

You can login to any other bank’s online banking service and make a transfer of money using the National Electronic Funds Transfer (NEFT) or Immediate Payment Service (IMPS). You cannot use RTGS to make a credit card payment. NEFT and IMPS are accepted all over India and is one of the easiest ways to make a payment.

• To make a payment, you can enter the Internet Banking facility of the bank of your choice.
• Select NEFT and enter the information accurately which includes beneficiary name, account number, bank, branch and IFSC code.
• NEFT can take upto 1 working day to be processed.
• For IMPS, you can follow the same method but it will be processed instantly.

Credit Card Bill Payment by Bank Browser and Mobile apps

Banks have special applications on browsers as well as their own mobile banking app which can be used to make payments towards the credit card bill. These are also considered online portals. Mobile apps are convenient as you can make payments from anywhere and at any time. Simply login to the app, select credit cards and make the payment.

Payment of Credit Card Bill by Standing Instructions

You can set standing instructions online with your bank to automatically debit the credit card payment amount from your savings account. You can choose to always pay the bill in full or pay just the minimum amount due.

Payment of Credit Card Bill by Other Portals

Banks may have tie ups with other companies to provide you convenient ways to pay your credit card bill. Visa Money Transfer is one such portal which usually takes about 2 working days to be processed. Billdesk is another portal used by many major banks.

Benefits of Paying Credit Card Bills Online

• Saves time and effort:

Paying your credit card bill is quick and easy. It saves a lot of time which you would’ve otherwise spent on visiting the bank or ATM.

• Convenience and Comfort:

Online payments can be done from the comfort of your own home or office. You can also make payments through your mobile or computer from anywhere around the world.

• Safe and Secure:

Online Banking is secure with the IPIN or other ways of authenticating your identity. Banks provide safety features that ensures your privacy and identity are protected. It eliminates the risk of losing money or information in the mail or anywhere else.

• Easy Records:

When you use online banking facilities, everything is recorded instantly and is available for your review anytime you need. All your information is automatically organised and available at one place. This makes it convenient when you’re budgeting and filing taxes.

• More Control:

You can choose to pay the minimum due, the full amount or any amount that you desire when you pay your credit card bill online. You can change your choice with each bill.

• Eco-friendly:

Making payments online saves paper, cheques, envelopes, stamps, and receipts. It also eliminates clutter when you receive all your statements and receipts electronically.

Important tips while making online payments:

• Check Your Credit Card Statement - Before you make any payments towards your credit card bill, you can check your online statement. Ensure all charges to the card are correct and note the exact amount you need to pay on the payment due date.
• Processing Time - Always check the time it would take for your payment to be processed when you are paying your credit card bills. For payments made through the bank’s internet banking facility, the turnover time is usually the same day. So this option can be used to make payments on the due date without the risk of incurring a penalty. Other online methods can take 1 working day upto 5 working days. IMPS transfers will be made immediately, but NEFT facility is available only during stipulated working hours of the respective banks.
• Provide Accurate Information -Make sure you are accurate when entering your credit card number, bank account number and other details. Take the time to double-check the information you have provided and make the payment for the right amount.

Offline Credit Card Payment

Pay Credit Card Bill using Electronic Clearance Service (ECS)

You can set standing instructions with your bank or any other bank to make payment towards your credit card every month. The payment will be made towards the minimum amount due or the total amount due as per your preference.

Payment of CC Bill with Debit Cards

You can use your debit card at the bank’s ATM to clear your credit card dues. Simply select the option of Bill Payment and follow the instructions of the ATM.

The money will be debited from your savings or current account.

Pay Credit Card Bill Over the counter

You can visit any branch of the bank and pay your bill over the counter in cash. A fee is usually charged for this service.

Credit Card Bill Payment by Cheques and Demand Drafts

You can write out a cheque favouring your credit card and deposit it in either a drop box or a cheque payment machine. These are available at the bank’s ATMs or branches.

Payment of Credit Card Bill through SMS

A few banks have the facility to send an SMS to a designated number. The SMS should contain the whole or part of your savings or current account number and your credit card number. This facility usually has a ceiling limit on the amount you can pay.

Credit Card Statement

Your credit card statement is a letter containing your credit card activity for the current month. Your purchases will be recorded and charged in your statement. You can see the total amount you owe, the minimum amount due and the due date. Credit card statements will give you a breakdown of the expenditure and the interest charged, if any. This statement is generated on the stipulated billing date and will be sent to you via post or email. The statement should reach you within 7-10 days. If you do not receive your statement, you should contact the bank immediately. Credit Card Statements are a record of your expenditure on your credit card and can help you analyse your purchases and budget better in future.

Offers on Credit Card Payments

Currently there are no offers available on Credit Card Payments.

Earlier offers included HDFC SmartPay and ICICI bank.

• With SmartPay, customers would receive 5% cashback for the first 6 months of registration. Processing fees were waived. 1,000 reward points were granted for new registrations. This offer expired on 31st December 2015.
• ICICI Bank also offered free discount vouchers worth Rs. 5,000 from Coupondunia if customers used the ICICI Internet Banking to pay any VISA credit card bill. This offer expired on 31st December 2015.

Look out for more credit card payment offers.

Bank’s Credit Card Payment:

For more information on individual bank’s credit card payments, please click on the links below.

Credit Card Bill Payment FAQs:

1. What are the consequences of missing credit card payments?

   You should never miss paying at least the minimum amount due on your credit card. If you do miss a payment, a fee will be levied. The bank may also increase your interest rate. If you continue to miss payments after notifications and reminders, this could result in your card being blocked till the payment is made in full. Upon continuous default, the bank will list you as a defaulter and report you to CIBIL which will impact your credit score and hamper future credit opportunities. Banks also have the right to impose legal action to recover the dues.

2. When will I receive my credit card statement?

   Each bank sets different credit card billing dates. For example, if the billing date on your credit card is the 20th of every month, the bill will be generated on 20th and sent to you. The payment due date will normally be 10 days later. Your statement will be sent via post or email, as per your preference.

3. Does it mean my bill is zero if I do not receive a credit card statement?

   Not necessarily. If you haven’t spent on your credit card, you may not receive a statement for that month. If you recall spending on your credit card or you are not sure, and you do not receive a statement, please call your bank’s customer service to ensure that there is no payment to be made. The bill is generated on an assigned date and will be mailed to you via post or email. If you do not receive your statement, it will be your responsibility to check your online banking account, your email or call the bank for clarifications.

4. Which is the fastest method to pay my credit card bill?

   The fastest method depends on how long your bank takes to process the payment. Generally, the fastest mode of bill payment is online banking where the process is completed immediately or on the same day. IMPS bank transfers are also done instantly.

5. How long do cheque payments take to be processed?

   Cheque payments can take up to 7 working days. You must take into account weekends and holidays, and the cheque collection timings. Ensure your cheque is deposited ahead of the due date to avoid missing the payment. Also double check the information you have provided in the cheque to make sure it does not get rejected due to any errors or missed signatures. Also ensure your bank account has sufficient balance for the cheque to clear.