Best Way to Pay Your Credit Card Bill: Online and Offline

Spending habits have drastically evolved in recent years. While cash once dominated day-to-day transactions, digital payments have now taken centre stage.

Typically, the online payments are settled instantly, but the sender might have to pay a small merchant fee. For instance, credit card payments draw a convenience fee ranging between 1.5%-3.5% in some cases. 

This brings us to an important question: What’s the most efficient and best way to pay a credit card bill? In this blog, we will explore the best options available.

Quick Synopsis

• Multiple online methods like internet banking, NEFT, IMPS, and mobile apps offer fast credit card bill payment.
• Offline methods include ATMs, cash payments, or cheque/demand draft deposits at banks.
• Setting up auto-debit ensures timely payments and avoids late fees.
• Online options offer the most convenience, speed, and easy tracking.

6 Different Online Methods to Make Credit Card Bill Payment

To figure out the best way to pay off credit card debt, consider checking out the options below:

Internet Banking

Net banking is a straightforward way to settle your outstanding credit card payments. To use internet banking for credit card bill settlement, follow these steps: 

• Step 1: Log into your internet banking account.
• Step 2: Open the ‘Credit Card’ section and select ‘Register Your Card’ if you are about to pay for the first time. 
• Step 3: Click on ‘Pay’ to select a valid online payment mode. 
• Step 4: Confirm the transaction by selecting ‘Complete’. 

NEFT

The second best way to pay your credit card bill is through NEFT. Here is how you can utilise your card issuer’s net banking portal to clear the due amount via NEFT:

• Step 1: After logging into your account, enter the beneficiary details like the bank name, credit card issuer, credit card number, branch address details, IFSC, etc. 
• Step 2: Wait for approval. For most banks, it can take up to 30 minutes. 
• Step 3: After the details are confirmed, initiate the transaction by adding the required amount. 

IMPS

IMPS is another common mode of payment for credit cards, where you must follow these steps:

• Step 1: First, install your bank’s mobile banking app. For instance, if you are an existing customer of SBI, you must download the YONO SBI. 
• Step 2: After logging into your account, click on ‘Money Transfer’ to access the IMPS option. 
• Step 3: Either pick ‘IMPS through MMID’ or ‘IMPS through account’. 
• Step 4: Check the entered details and click 'Confirm.' 

Mobile Banking App

If you have installed your bank’s mobile app, you can pay the credit card bills through these steps: 

• Step 1: Complete the account login. 
• Step 2: Access the ‘Credit Card’ section. 
• Step 3: Select the appropriate card and click on 'Pay Now.' 
• Step 4: Enter the necessary amount and proceed to pay. 

Auto Debit Facility

Auto-pay is the go-to credit card bill payment option for customers who want to avoid late charges. To mandate auto-pay, ensure these steps are followed:

• Step 1: Open your net banking profile and look for the ‘auto debit’ option. 
• Step 2: Select the card and specify the amount that you wish to be auto-debited. You can set a maximum limit too. 
• Step 3: Activate the auto-pay setup. 

Mobile Wallets

Mobile wallets are provided by various UPI platforms that allow you to top up your balance from your bank account to pay for different bills in the future. These applications can be the best way to pay a credit card bill if you systematically recharge your wallet from time to time. 

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Offline Ways to Pay Your Credit Card Bill 

• ATM: Credit card bills can be paid through bank ATMs using your debit card. After inserting the card and entering your PIN, you have to choose the credit card payment option, select the account, and confirm the bill amount.
• Over-the-Counter: Alternatively, you can visit the nearest branch of your card-issuing bank to pay the bill in cash. For this, you have to fill out a physical form or slip with your credit card details and make the payment at the cashier’s desk.
• Cheque/Demand Draft: In this case, the card user must write a cheque or obtain a demand draft in favour of their credit card number. Then, they should deposit it at the bank’s drop box or designated counter. 

Why You Should Pay Your Credit Card Bill Online? 

Paying your credit card bill online offers great convenience and quick processing. You can pay anytime, anywhere, avoiding late fees and boosting your credit score. It also allows easy tracking of transactions and often includes secure features like OTPs, making for a hassle-free and safe payment experience.

Final Words 

There is no single best way to pay a credit card bill. However, you can utilise online payment options for the seamless settlement of your outstanding balance. Additionally, this approach saves you both time and effort, as you do not need to visit a branch. 

Starting today, if you have a low credit score and wish to use a credit card, download Stable Money! We offer a lifetime free credit card if you open a fixed deposit and apply for a credit card against it. With this card, you can enjoy 0.5% cashback on all online purchases. 

If that sounds like a great deal, explore the Suryoday Bank FD-backed credit card on Stable Money today!