How To Pay Credit Card Bill With Cash: A Step-By-Step Guide

Paying your credit card bill with cash may seem old-fashioned in this era of digital payments. However, there are still good reasons you may need or want to pay in cash.

I’ve paid my credit card bill in cash a few times over the years when I’ve been in a bind. If you find yourself in a similar situation, this guide will walk you through the step-by-step process.

When To Pay Your Credit Card Bill With Cash

First, let’s explore some of the reasons you may need to pay your credit card bill in cash:

• You are unbanked and don’t have a checking account. Without a bank account, you can’t set up automatic payments or pay online. Paying in cash at a branch or ATM may be your only option.

• You experience an internet outage or power failure when your payment is due. Paying in cash ensures you avoid late fees.

• You are paid in cash tips or other cash income Paying directly from your cash earnings avoids an extra trip to the bank

• You budget in cash using the envelope system. It’s logical to pay your bill directly from your cash envelopes.

• Your bank account has insufficient funds when your bill is due. Paying in cash lets you avoid overdraft or returned payment fees.

The bottom line: Paying in cash can be necessary to avoid late fees and other penalties if your online payment options are limited.

How To Pay Your Credit Card Bill With Cash

There are three main ways to pay your credit card bill with cash:

In Person At The Issuer’s Branch

• Locate a local branch for your card issuer Most large banks like Chase and Bank of America have branches in many areas,

• Bring your printed billing statement and cash payment to the branch Tell the teller you want to make a cash payment on your credit card

• Provide your account number and other details as requested. The teller will process your payment and provide a receipt.

At The Issuer’s ATM

• Find an ATM affiliated with your credit card issuer. For big banks like Chase, this is typically their own ATMs.

• Insert your credit card into the ATM as if you were making a withdrawal. Select the option to make a payment.

• Follow the prompts to insert your cash payment. Count your cash carefully before inserting.

• Ensure the ATM provides confirmation of your payment and an accurate remaining balance.

Purchase A Money Order With Cash

• Buy a money order at the post office, grocery store, or other retailer. Pay for it in cash.

• Make it payable to your credit card issuer and include your account number.

• Mail the money order to your issuer using the payment address on your statement.

• Keep your mailing receipt as proof of payment in case it gets lost or delayed.

Tips for Paying In Cash Successfully

Follow these tips to ensure your cash payment goes through without issues:

• Have your account number handy to provide. This ensures your payment gets credited properly.

• Get a receipt from the teller or ATM as confirmation and your records.

• Mail money orders at least 5 business days before your due date in case of mail delays.

• Set a reminder on your calendar so you don’t forget to pay on time.

• Contact your issuer immediately if your mailed payment doesn’t post within a few days.

• Avoid mailing loose cash. Get a traceable money order to have recourse if lost.

• Check your issuer’s transaction limits. Some cap branch or ATM cash payments.

• If the ATM miscounts your cash, report the error promptly to get it fixed.

Should You Pay Off Your Balance In Full?

If you’re going through the trouble of a cash payment, it often makes sense to pay off your entire balance rather than just the minimum.

Here are some benefits of paying your credit card balance in full each month:

• Avoid interest charges. Paying in full avoids owing interest on your balance. This saves you money.

• Improve your credit utilization. Keeping your balance low compared to your limit helps your credit score.

• Earn rewards. Paying in full lets you maximize rewards points earned from purchases.

• Simplify tracking. With no carried-over balance, it’s easier to manage monthly spending.

• Create a habit. Paying in full monthly builds a healthy habit for using credit responsibly.

Just be sure to budget appropriately so you have the cash on hand to pay in full. Not carrying a balance is ideal, but never pay late or miss payments.

Alternatives To Cash Payments

Cash payments certainly still have their place for some situations or personal preferences. But you also have other options to explore:

• Online bill pay. Set up payments through your bank account via your credit card issuer’s website.

• Automatic payments. Arrange for recurring monthly payments directly from your checking account.

• Peer-to-peer payments. Services like Zelle let you instantly send electronic payments to individuals.

• Prepaid debit card. Fund it with cash to then make digital credit card payments.

For maximum convenience and reliability, online payments through a bank account are ideal if accessible to you. But occasional cash payments can fill the gaps when needed.

Paying Your Credit Card Bill In Cash – The Bottom Line

While less common than in the past, there are still situations where paying your credit card bill with cash makes good sense. Following the steps to pay in person, at the ATM, or by money order ensures your payment posts on time. Just be sure to budget accordingly, get documentation, and build the habit of paying in full each month. With a practical approach, cash payments can be simple and successful!