Credit Card Bill Payment Online & Offline - All Methods & Procedure

According to recent data, the credit card industry is likely to grow at a CAGR of more than 25% by 2025. This particular sector’s growth trajectory signals that individuals are increasingly depending on digital payments now more than ever. However, in tandem with this upsurge of credit card requirements, several frauds are increasing with every passing day.

Thus, it is vital to ensure whenever you conduct credit card bill payment online, you do so via a trusted source. There are multiple phony sites presently, masquerading as credible mediums of bill payment to dupe users into sharing sensitive personal details. You can also consider offline payment methods.

Credit card payment – Online procedure
Following is a list of online payment procedures individuals can follow to pay their credit card bills safely –

1. Internet banking
It is essential to have your credit card registered with your bank to start this process. After the registration, follow these steps:
Log in to your net banking account, link your credit card with a net banking account using your ATM PIN.
Go through your credit card information, including due dates, and click on the ‘Credit card payment’ option to pay your monthly dues.

2. NEFT
Even though some of the procedures slightly vary from one financial institution to another, National Electronic Funds Transfer’s basics are almost similar.
Make sure to add your credit card number as the payee account number to begin this process.
Provide necessary details, including IFSC code, to make the payment.

3. Auto debit facility
For online credit card payment via the auto-debit facility, individuals must have an account for net banking. One needs to choose the minimum or total outstanding amount and give permission to the financial institution to debit the credit card bill amount directly on the due date.

While making the credit card bill payment online seems hassle-free compared to other methods, it also comes with certain drawbacks like giving rise to fraudulent activities. By availing the Wallet Care insurance policy from Bajaj Finserv offered under its Pocket insurance & Subscriptions, financial losses arising from such issues can be taken care of.

Credit card bill payment – Offline procedure
Individuals wary of online mode of bill payment can consider several offline methods that are available:

1. Over-the-counter payment
The process takes 1 working day to complete, and a specific fee might vary from one institution to another. The method includes:
Visit the nearest branch of the concerned financial institution and fill up a deposit slip to begin the process.
Make sure to provide accurate information regarding credit card details, bill amount, etc. and submit that to the cashier.

2. ATM transactions
The process is comparatively swift and requires your savings account and debit card to be under the same financial institution. The steps to make payment are:
Insert the debit card and submit the PIN.

Under the ‘Services’ section, choose the ‘Credit card bill payment’ option.
After entering your credit card number, you can see the total bill and the minimum due amount. Choose accordingly and make the payment.

Individuals frequenting the ATM might consider subscribing to an ATM safeguard policy. Such a plan offers financial protection should an individual suffer a financial loss due to burglary or robbery in ATM premises.

3. Customer care
The IVR process includes providing the card number and other necessary details to the executive who will help you complete the credit card bill payment process.
The online credit card payment options are comparatively more flexible than the traditional methods due to its multiple conveniences. Nevertheless, holding a credit card today entails several risks, like skimming and phishing frauds. Thus, keeping in place a fraudulent charges insurance cover can safeguard individuals from suffering any monetary loss because of unauthorised transactions.