Credit Card Bill Payment

To pay your credit card bills on Paisabazaar, follow these simple steps:

1. Log in to your Paisabazaar account
2. Under ‘Recharges and Bills’, click on ‘Credit Card Bill’
3. Select ‘Credit Card Issuer’ from the list
4. Enter the last 4 digits of your credit card and your Registered Mobile Number and proceed
5. Now your card will be added and the dues, along with the due date, will be shown
6. Click on ‘Pay Now’ and proceed
7. Total amount due will be prefilled in the amount field, but you can edit the same
8. Proceed to pay using UPI or Netbanking and complete the payment on the respective UPI App or Netbanking portal
9. On successful processing of the transaction, your bill payment will be completed

In addition to offering a secure and convenient payment experience, paying your credit card bill through Paisabazaar offers several additional benefits:

Cashback on Eligible Bill Payments: You can earn cashback on eligible credit card bill payments made through Paisabazaar.

Chance to Win PB Pass: Eligible bill payments give you a chance to win PB Pass, which offers one complimentary domestic or international airport lounge visit at participating lounges.

Zero Platform Fee: You can pay your credit card bills without paying any additional platform or convenience fee.

Manage Multiple Credit Cards in One Place: Add multiple credit cards to Paisabazaar and manage their bill payments from a single platform instead of switching between different banking apps.

One-time Card Setup: Add your credit card once and access your bill details each month without entering the card details again, making future payments faster and more convenient.

Timely Reminders: Receive reminders before your credit card payment due date to help you make timely payments and avoid late payment charges.

Secure Transactions: Paisabazaar is a PCI DSS-certified platform that follows security standards to help protect your data and payment transactions.

Customer Support: Get assistance with credit card bill payment-related queries, failed transactions, and other payment issues through Paisabazaar's customer support.

Credit card bills can be paid through multiple online and offline methods. The available options may vary depending on the card issuer and the payment platform. Given below are some of the common ways to pay your credit card bill online:

Credit Card Bill Payment Through UPI

You can pay your credit card bill using UPI through your bank or a supported payment platform. If you are paying a RuPay credit card bill, you can also use supported UPI apps for eligible transactions.

The basic process is as follows:

1. Open your preferred UPI app and select the option to pay a credit card bill.
2. Select your credit card issuer and enter the required card details.
3. Enter the amount you want to pay and verify the payment details.
4. Authorise the payment using your UPI PIN.
5. Once the transaction is successful, you will receive a payment confirmation.

Credit Card Bill Payment Through Net Banking

You can pay your credit card bill through net banking using the card issuer's bank account or, where supported, another bank account. The basic process generally involves logging in to your net banking account, selecting the bill payment or credit card payment option, entering the required card details, specifying the payment amount and authorising the transaction. The payment processing time may vary depending on the bank and payment method used.

Credit Card Bill Payment Through NEFT

NEFT can be used to pay your credit card bill by transferring funds from your bank account to the credit card account. You generally need to add the credit card as a beneficiary using the details provided by the card issuer, such as the beneficiary account number and IFSC code.

Once the beneficiary is added, enter the payment amount and initiate the NEFT transfer. The processing time may vary depending on the bank and the time at which the transaction is initiated. Therefore, it is advisable to make NEFT payments sufficiently before the credit card payment due date.

Credit Card Bill Payment Through IMPS

IMPS allows you to transfer money instantly from your bank account to the credit card account as per the bank's applicable service and transaction limits. You need to enter the beneficiary details provided by your card issuer and specify the amount to be paid. IMPS is generally available round the clock, including weekends and bank holidays. However, the time taken for the payment to reflect in your credit card account may vary depending on the issuer.

Credit Card Bill Payment Through AutoPay

AutoPay allows you to automatically pay your credit card bill from your linked bank account on or before the payment due date. Depending on the issuer, you may be able to choose between paying the total amount due or the minimum amount due.

AutoPay can help you avoid missing payment due dates and the resulting late payment charges. However, before enabling AutoPay, check that your linked bank account has sufficient funds and verify the amount that will be automatically debited.

If you prefer to pay your credit card bill offline, you can use methods such as cash, cheque, ATM or by visiting the card issuer's branch, depending on the options provided by the issuer.

Credit Card Bill Payment Through Cash

You can pay your credit card bill in cash by visiting the card issuer's branch or other authorised payment centres. You may need to provide your credit card details and the amount to be paid. However, remember that a cash payment fee may apply in some cases.

Credit Card Bill Payment Through Cheque

You can pay your credit card bill by submitting a cheque at the card issuer's branch or designated collection centres. You should mention the required credit card details on the cheque or payment slip, as instructed by the issuer. Cheque payments may take some time to be processed, so make sure to submit the cheque well before the payment due date.

Credit Card Bill Payment Through ATM

Some card issuers allow consumers to pay their credit card bills through their ATMs. You can insert or swipe your debit card, select the credit card payment option and enter the required details and payment amount. The availability of this facility may vary across banks.

Paying your credit card bill by the due date helps you avoid late payment charges and additional finance charges. Timely payments also help maintain a healthy repayment history. On the other hand, a late credit card payment can increase your repayment burden and may affect your credit profile if the payment remains overdue.

Avoid Late Payment Charges: Credit card issuers levy late payment charges if the required payment is not made by the due date. The applicable charges vary depending on the card issuer and outstanding amount.

Avoid Additional Finance Charges: Paying only the minimum amount due leaves the remaining balance unpaid, which may attract applicable finance charges as per the card's terms and conditions on the outstanding amount.

Maintain a Healthy Credit History: Regular and timely credit card payments demonstrate responsible credit behaviour. Missed or delayed payments may negatively affect your credit history, particularly when the payment remains overdue.

Avoid Increasing Debt: Continued non-payment can result in finance charges and an increasing outstanding balance, making it more difficult to clear your credit card dues.

Credit Card Billing Cycle, Bill Date and Payment Due Date

Understanding your credit card billing cycle, statement date, and payment due date can help you plan your payments and avoid missing deadlines.

What is a Credit Card Billing Cycle?

A credit card billing cycle is the period during which the transactions made using your card are recorded for generating the monthly credit card statement. The length of the billing cycle is usually 30 days, but it may vary depending on the card issuer.

What is the Credit Card Statement Date?

The credit card statement date is the date on which the issuer generates your monthly credit card statement. It includes the outstanding balance, new transactions, and applicable charges recorded during the billing cycle.

What is the Credit Card Payment Due Date?

The credit card payment due date is the last date by which you need to make the required payment towards your outstanding credit card bill. The exact due date is mentioned in your monthly credit card statement. After this date, late payment charges may be levied.

Example:

If your credit card billing cycle runs from the 1st to the 30th of every month, the statement may be generated on the 30th or 31st. The exact payment due date will be mentioned in your credit card statement.

Minimum Amount Due vs Total Amount Due

Your credit card statement mentions both the minimum amount due and total amount due. Understanding the difference between these can help you decide how much you need to pay towards your credit card bill.

Minimum Amount Due vs. Total Amount Due: Which Should You Pay?

You should generally aim to pay the total amount due whenever possible. Paying the total outstanding amount helps you avoid finance charges on the remaining balance and maintain a healthy repayment history. Paying only the minimum amount due can help you keep the account from becoming immediately overdue, but it does not clear the remaining balance. The unpaid amount may continue to attract applicable finance charges, which can increase your overall repayment burden.

What Happens If You Miss Your Credit Card Payment Due Date?

Missing your credit card payment due date can result in additional costs and may affect your credit profile if the payment remains overdue. Some of the possible consequences include:

Late Payment Charges: Card issuers may levy late payment charges as per their applicable fee structure.

Finance Charges: Finance charges may be levied on the outstanding balance as per the card's terms and conditions.

Impact on Credit History: Continued or prolonged payment delays can negatively affect your credit history.

Increasing Debt: Unpaid dues can continue to accumulate applicable charges, increasing the total amount payable.

What Should You Do If You Missed Your Credit Card Payment?

If you have missed your credit card payment due date, take the following steps:

• Pay the outstanding amount as soon as possible.
• Check the updated outstanding balance and applicable charges.
• Review the late payment and finance charges levied by the card issuer.
• Contact the card issuer if you need clarification regarding the charges or payment status.
• Set up payment reminders or AutoPay to avoid missing future due dates.

Quick Tips to Manage Your Credit Card

Paying your credit card bills on time is important for maintaining a healthy repayment history. Here are some additional tips to help you manage your credit card effectively:

Pay the Total Amount, Not Just the Minimum Due

Paying only the minimum amount due can keep your account from becoming immediately overdue, but the remaining balance may continue to attract finance charges. Paying the total amount due, whenever possible, can help you avoid such charges on the outstanding balance, subject to the card's terms and conditions.

Set Auto-Debit or Reminders to Avoid Delays

Missing a credit card payment can result in late payment charges and may affect your credit history if the payment remains overdue. Setting up AutoPay or payment reminders through your bank, calendar, or Paisabazaar can help you make payments on time.

Avoid Cash Withdrawals from Your Credit Card

Credit cards offer a cash advance facility that allows you to withdraw cash from an ATM. However, cash withdrawals may attract applicable cash advance fees and finance charges, and the interest-free period available on purchases may not apply. Therefore, it is advisable to use this facility only when necessary.