Paying your credit card bill on time each month is one of the most important things you can do to build and maintain good credit. Thankfully credit card issuers offer several convenient ways to pay your bill so you can avoid late fees and interest charges. Here’s an overview of how you can pay your credit card bill.
Online Account
The most popular way to pay your credit card bill is through your online account. Nearly every credit card issuer offers an online account management system that allows cardholders to view statements, track purchases and rewards, update personal information, and make payments.
To pay online, simply log into your account, select the “Make Payment” option, and submit your payment details. You can pay your total balance due, make a partial payment, or schedule recurring autopayments. Paying online is fast, secure, and lets you avoid the hassle of mailing checks or dealing with customer service.
Mobile App
In addition to online account access, most major credit card issuers also offer a mobile app that provides cardholders will bill pay capabilities. The process for paying through your issuer’s app is essentially the same as paying online. Just download the app, log in, and submit your payment details.
Mobile apps make it easy to pay your bill from anywhere, at any time. You don’t need to wait until you’re in front of your computer to take care of your credit card payment. As long as you have your phone handy, you can pay in seconds.
By Phone
If you prefer speaking to a real person, you can call your credit card issuer’s customer service line and make a payment over the phone Have your account number, payment amount, and bank account details ready before you call
Some issuers let you make one-time payments over the phone at no cost, while others may charge a small fee for phone payments. Be sure to ask about any fees before providing your payment information.
By Mail
Sending a payment by mail is one of the more old-fashioned ways to pay your credit card bill, but it’s still an option offered by most issuers. Your monthly statement will include a payment coupon and mailing address to send your check or money order to.
Just fill out the payment slip, enclose your check, and drop the envelope in the mail so it arrives by the due date. Be aware that mailing payments takes longer and you’ll need to account for postal delivery times.
In Person
Some credit card companies allow cardholders to make payments in person at local branches. For example, if you have a credit card from your bank, you may be able to go to your local bank branch and make a payment.
You can also see if your issuer has a “pay online, pick up in store” option at partner retail locations. This allows you to submit payment details online and then swing by the partner store to make the cash/check deposit.
Recurring Autopay
The easiest way to ensure you never miss a credit card payment is to enroll in autopay. This lets you schedule recurring automatic payments, usually on your due date each month. The funds are deducted from your checking account, so you don’t have to do anything once autopay is set up.
Just be sure you have enough money in your linked account to cover the monthly payment amount. If not, you could end up with overdraft fees. Monitor your account balance regularly when using autopay.
Which Method is Best?
The most convenient and popular payment methods are through your online account and mobile app. Autopay is great for those who want payments to be fully automated. Phone and mail payments work for those who prefer talking to an agent or sending in a payment slip.
Choose the credit card bill payment method that fits your preferences and financial habits. Consistently paying on time is what really matters, regardless of how you pay. Setting calendar reminders can help you remember due dates and avoid late fees.
Determine how much you’ll pay
The amount you pay will determine the cost of your balance now and in the future, as interest will accrue for a balance thats not paid off in full.
The typical payment options will include the following:
- Minimum payment due. Making the minimum payment will keep your account in good standing and prevent you from racking up late fees; but paying only the minimum is costly over time and will prolong your debt. Typically, youll be able to see how long it would take to pay off your balance with only minimum payments by reading the minimum payment warning on your credit card statement. In general, to save on interest charges, youll want to pay more than the minimum whenever possible.
- Statement balance. The statement balance is the sum of all transactions made during your credit cards billing period. Ideally, you want to focus on paying this amount in full because it could help you avoid interest charges.
- Current balance. If youve continued to make purchases since the statement closing date (which is noted on your statement, but is different from your due date), your current balance will include those additional charges — but you dont have to pay those newer charges until the next billing period. However, if you want to get ahead by making those payments now, youre welcome to do that.
To determine the best payment option for you, create a budget for your credit card purchases and other expenses. Youll want to include in that budget any debt and active promotional offers, including corresponding deadlines.
You typically won’t be charged interest on purchases until after your payment due date (this is called a credit card grace period), so if you pay your statement balance in full by the due date every month, you won’t have to worry about racking up interest charges.
Decide when to pay your credit card bill
You can pay your credit card bill precisely on the due date, or you can pay it early. Either way, youll avoid any potential penalty APRs, as well as costly late fees that can run as high as $41.
Paying early might temporarily help your credit utilization — a key factor that impacts credit scores — but it depends on your credit card statements closing date. Thats when your credit card issuer adds up your account activity from the previous billing period and creates your credit card statement. On or around the closing date is also when the issuer usually reports your card balance to the credit bureaus, which compile the reports that form the basis of your credit scores. If at that time your balance is low compared to your available credit line, then you have a low credit utilization ratio, which is beneficial for your scores.
This kind of payment timing might be a strategy to employ if youre soon applying for a loan or mortgage and want to increase your odds of approval.
Note that many issuers will allow you to change your payment due date to a day that better aligns with your budget or payday.
If you have any active promotional offers or your credit card earns rewards, paying on time will keep the offers current. Skipping payments could cause you to lose these incentives, depending on the credit cards terms and conditions.
BEST Day to Pay your Credit Card Bill (Increase Credit Score)
FAQ
What is the proper way to pay your credit card?
How do people pay their credit card bills?
How do you pay off a credit card each month?
How do I make a credit card payment?
If your credit card issuer offers mobile banking, you can also make payments through your credit card app. Online payments are easy to make and even easier if you sign up for autopay, which is why it’s become so popular. If you want to make a credit card payment over the phone, call the number on the back of your credit card.
How do I pay my credit card bill on time?
If you want to make sure you pay your credit card bill on time every month, automatic payments are one of the best ways to get the job done. When you set up autopay online, money is automatically withdrawn from your bank account to make your credit card payment.
What is the best way to pay credit card bills?
The best way to pay credit card bills is online with automatic monthly payments deducted from a checking account. This minimizes the chances of missing a credit card payment due date, and it can also help cardholders avoid interest charges, depending on the type of payment scheduled.
Should I pay my credit card bill online?
Paying your credit card bill online forgoes the stamp and envelope, allowing your payment to be received more quickly. Many card issuers offer automatic payments via your bank account or debit card each month, so you don’t have to worry you’ll forget a payment.
How do I pay my Capital One credit card bill?
Try to stick to a budget so you can pay off the balance in full and avoid interest. When you plan ahead, you’re more likely to pay your credit card bills on time. If you have a Capital One credit card, there are a few ways you can pay your bill: Make a payment online. Make a payment by mail. Make a payment by phone at 1-877-383-4802.
How do I make a credit card payment over the phone?
If you want to make a credit card payment over the phone, call the number on the back of your credit card. Before you make the call, make sure you have the bank account number of the checking or savings account from which you’d like to have the payment deducted.