HomeCredit CardBenefits of Paying Your Credit Card Bill on Time

Benefits of Paying Your Credit Card Bill on Time

Credit cards make your shopping experiences seamless, but to make them advantageous for you, you must keep track of your spending. Overspending on a credit card is easy since you have the power of ready cash.

However, you should be aware that a free credit period is limited, at the end of which you get a statement which is a bill to be settled.

What is a Credit Card?

Credit cards are available in different types to suit your spending patterns and requirements. You can get a credit card with a convenient application online. Nonetheless, when you use a credit card, it affords a kind of loan that you take. Credit card issuers are banks and NBFCs that essentially give you credit-free periods that typically last a month.

In case you fail to settle bills at the end of the period, balances will be carried forward and you will have to pay credit card interest, along with pending balances.

How to Download a Credit Card Statement?

When you purchase with credit cards, bill payment has to be done at the close of a credit period. The company from which you get your credit card, a bank, or a finance company, generates a statement and this represents a bill to be settled for amounts spent. You can track your statement online, either through the portal of the issuing bank or credit card company. By entering your credit card details, you can view your statement regularly.

Moreover, you will receive your credit card statement by email. This can be downloaded directly from your email account. You can also view and download your statement from the portal of the credit card company or the bank.

How to Pay a Credit Card Bill?

There are two principal ways to pay a credit card bill. You can pay your bill online or offline using the following main methods:

1. Offline Payments

  • At card-issuing bank or credit card company branches
  • At ATMs

2. Online Payments

  • Through NEFT fund transfers
  • Through net banking
  • Through the BillDesk gateway
  • Through mobile banking with your smartphone
  • Via a mobile ‘wallet’
  • Using an auto-debit facility

Benefits of Paying Credit Card Bills on Time

To avoid penalties and extra charges over and above your credit card bill amount, like credit card interest, it’s a good idea to track your credit card expenses by running regular checks on your statement. Not only does this inform you of any overspending you may want to curb, but it also avoids surprises of large amounts to be paid when your bill arrives.

One of the key reasons that individuals fail to make timely payments is the lack of funds to make inflated bill payments. By regularly checking your statements, you can curtail your spending and manage to pay bills on time. The benefits of timely payment are:

  • You avoid extra charges like penalties
  • You avoid debt being collected
  • You avoid extra interest charges


Taking timely action, whether it is to pay bills or track your credit card activity, can only be a plus for you. You can save money by not having to pay extra fees and penalties if you do this.

Ajeet Sharma, the founder of Financegab and a well-known name in the field of financial blogging. Blogging since 2017, he has the expertise and excellent knowledge about personal finance. Financegab is all about personal finance which aims to create awareness among people about personal finance and help them to make smart, well-informed financial decisions.


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