Covid-19 How to manage payment of Credit Card Bills
Coronavirus Outbreak has put a lockdown in many countries including India. The credit card users are worried about the payment of the credit card bills.
Some credit card users who prefer paying the bills via cash or a cheque and they have to visit the bank’s branch. But after the lockdown, they are unable to clear the dues.
Different Methods of Payment for Credit Card Bills During Lockdown Offline Payments
Online Payments
Transfer through ATM
Net Banking
Cash Payments
Mobile Application
Cheque Payments
Third-Party Payment Gateway National Electronic Fund Transfer Standing Instruction
Use Net Banking: Experience the digital way for your banking needs.
Log in to the net banking services of your bank and clear the dues by just sitting at home in a few clicks.
This mode of payment will help you to avoid visiting the bank’s branch and stay safe.
Try Mobile Application: You can download the mobile application of the bank and use for the payment of your credit card bill.
The mobile banking applications have the option to make the payment of your credit card bill.
Third-Party Payment Gateway: You can use the third-party payment gateway like Billdesk, GPay, Paytm, and many other trusted applications for making the payment.
Provide your credit card details and the account details from which you want to make the payment. All the information is in an encrypted form and is totally safe.
National Electronic Fund Transfer: Use NEFT for making the payment of your credit card bill from another bank account. The IFSC Code of different credit card providers differs from each other.
There are some credit card users who don’t have a bank account of the credit card they are using.
Standing Instruction: Standing instruction can be given to the bank to debit the amount of your bill from your bank account on a specified date once the bill is generated.
This is also known as Auto-Debit payment that can be useful to clear the pending dues of your credit card during Coronavirus lockdown.
Choose 3 Months Moratorium
The RBI has given 3 months leverage in which you can skip the payment of your bills. You can manage the Payments of Credit Card bill during Coronavirus Lockdown.
It will not affect your Credit Score nor will the bank impose any extra late payment fees on your credit card bill.
The banks will continue charging interest on outstanding amount, you have to pay an extra sum of money as interest after 3 months.
If you are capable enough to clear the bill on time then make use of the online methods of payments.
You can get both your Personal Credit Score and Business Credit Score by applying directly on the link mentioned below: https://cir.crifhighmark.com
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