The way we used to buy or spend through credit cards has changed now completely and there is not a second thought about it. We can look around ourselves and see for it, the revolution these credit cards have brought and the evolution of their usage.
Earlier, people used to get scared thinking about using credit cards for shopping or buying stuff, or paying bills. But now this has reversed completely and customers have become very much confident about the use of this tiny little thing.
The most attractive part of using a credit card balance is the feature that it provides of “buying now and paying later”. Regular usage of a credit card balance also needs regular monitoring and requires discipline too and we also regularly need to check our credit card balance. Because at the end of the day it is nothing but revolving credits that a person avails for itself from the issuer which needs to pay back the credit card balance by time.
One of the important factors to monitor your credit card usage is to check your credit card balance.
Here we will also discuss some other points like
How to check credit card balance?
How to check credit card balance online?
When we say balance it means the amount of money we already own and the remaining amount limit which we can still use through the same credit card balance.
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Importance of Knowing the Credit Card Balance
If you are a regular credit card user, in that case, you must know the importance of regular checking credit card balance at a specific interval of time.
Let us now explore the points which highlight the importance of regular check credit card balance and knowing, how to check credit card balance:
1. Helps in Keeping the Track of our Expenditure
It means that with regular habit to credit card balance you will have a correct track record of your expenditure and also will have a record of the payment you will need to make towards the credit card and credit card balance issuer. You can also have a check on the unbilled transactions and can raise an objection against the bank in case you encounter any unauthorized transaction. You can easily check credit card balance online using some available options given future.
2. To Know the Available Balance
With regular checking of your credit card balance, you can have a record of the available balance of your credit card so that you do not exceed the limit by any chance and regret it after you will have to pay the bill with your credit card. And also you do not get embarrassed in any store while you put your credit card forward for payment of the goods that you are buying and the person standing on the opposite counter tells you that your card is being rejected. So if you do not want this to happen to you, better keep a check on the credit card balance.
3. General Monitoring and Checking on Fraud Charges
Habit to check credit card balance also helps in regular monitoring of the activities of the credit card. Helps to keep the record of the transaction made during a particular billing time. If you find any unauthorized charges you can raise a dispute towards the issuer of the credit card so that you do not have to pay for the transactions that you haven’t made. A very convenient way is to check credit card balance online.
Now, that we know that why is it important to regularly check credit card balance the next thing we need to know is that how to do this process? Which means how to check credit card balance? Because without knowing the way how will we able to do it. So let us explore this point of how to check the balance of a credit card?
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Ways to Check Credit Card Balance
There are not one but so many different ways to check credit card balance. Now, what are these different ways that we are talking about? All of these are given below for your convenience.
1. At the ATM
This is one of the ways to check credit card balance, what do we do when we generally go to an ATM to withdraw our money? We simply very firstly insert our ATM card so that the screen of the ATM provides us with some options and by choosing the relevant options we can get access to the amount of money we want to withdraw.
In the same way, we need to insert the card into the machine, after which the same machine will direct you to a menu from which you will have to choose some relevant options after which the machine will provide you with the information which you want to gather including to check credit card balance.
But there is one requirement to use this service and that is to have a credit card PIN which after entering you will be directed to the information you require. If you do not have one you should contact your issuer to provide you with one. This is how to check credit card balance in one way.
2. Monthly Statements
This is one of the other ways to check credit card balance. The issuer of your credit card provides you with a monthly statement as and when they are ready to be sent. They can reach you in the form of mail or a hard copy will be sent to you through a courier service. You should check these statements thoroughly and precisely so that you can track the proper information as well as the credit card balance. If you are checking it through email that is a soft copy, you need a pin to get access to that mail and that pin is generally a combination of your details like the number of credit card and your birth date, etc.
The smartest way to access this service is through email if you haven’t subscribed to this service till now, do it as they do not take any extra charges for this. This is how to check credit balance another way.
3. Visiting a Branch
Another option to check credit card balance is to visit the nearest branch of the bank, yes it is time-consuming but can be considered as an option. You can simply tell the person who is sitting on the inquiry section your need as the system has all the information about your credit card balance already, after typing some required information and verification the person will simply tell you the balance of your credit card. So if it is possible for you as the branch of the bank is near you and you also have time, you can consider opting for this option. And this one more of how to check credit card balance.
4. By Calling Customer Service Center
Another way to check credit card balance is this. The credit card information can be gathered by calling the customer service center. They will ask you for some specific information in the form of a pin after which you obtain the information regarding your credit card by speaking to the representative and you easily can check credit card balance. This a one of the very convenient ways of how to check credit card balance.
5. By Sending SMS
If you are a subscriber to the SMS or text messages service you can use one of these ways to check credit card balance, the issuer’s system will send an informative SMS to you regarding your transaction as and when it is made which will provide the information of the charges as reference. The bank can also send you periodic alert SMS to help you reach the information about your credit card including check credit card balance. Another very convenient way of how to check credit card balance.
6. Internet Banking
This service is very much looked after to check the information of a credit card including check credit card balance. You can check the balance instantly by just entering your id and password which are provided to you by the issuer itself while you apply for the credit card. If by any chance they do not provide you with an id or password, they will make an account of yours on their online portal through which you can anytime check credit card balance. The information that is provided over this portal is real-time information. This is one of the very efficient ways to check credit card balance online.
With this facility of internet banking, you can easily update your personal information and can also make requests for changes in your account. Another solution to the problem of how to check credit card balance?
7. Checking Credit Card Balance on the Mobile App
This is another most preferred way of checking credit card balance through the mobile app provided by the issuer or by any other handheld device. This way of checking balance is very convenient and easy. Almost all the banks have mobile applications which can easily run over Android devices. Last but not least way of how to check credit card balance. And this is also a very simple way to check credit card balance online.
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Disadvantages of using Credit Cards
Does credit card balance usage has any disadvantages? Yes, there are several disadvantages of using a credit card and credit card balance which are given below in points:
- One of the disadvantages of using a credit card is that some people find it difficult to check credit card balance.
- If a person doesn’t check credit card balance regularly the person is not able to stay updated about the credit card balance.
- As there are several ways to check credit card balance in that case customers get confused that what way to use it, this is another one of the disadvantages of using a credit card.
- Another disadvantage of using a credit card is that people don’t generally know how to check credit card balance online and that becomes a problem as they themselves have to go to the branch of a bank or to ATM to check credit card balance.
- Another huge disadvantage of using a credit card is that when you are unaware of the credit card balance you can get trap into a situation where you can get embarrassed because of the rejection of your credit card.
- One of the disadvantages of using a credit card is that you have to keep a record of one more special thing in this busy world, we do not get time to check on our daily needs and after all this, we specially have to keep a check credit card balance. We will have to find ways to check credit card balance, also need to know how to check credit card balance online?
How to Check Credit Card Balance – FAQs
Q1. What is a credit card balance?
Ans. A credit card balance is the total amount of money that you owe to the credit card issuing bank. This credit card balance increases with every payment of bill and decreases every time you pay back the money to the bank.
Q2. Can a person overpay a credit card bill so that my credit card limit increases?
Ans. In case someone overpays the bill of a credit card, the same person will have a negative account balance and the credit card issuer will owe you the extra amount which is paid by that person.
Q3. What is a credit card balance refund?
Ans. The credit card balance refund is the money that the credit card issuing company owes you in case you pay extra the amount to the credit card issuer which you were supposed to pay. The credit card company will refund you the extra amount and this money will be credited into your credit account. Some of the banks even issue a cheque against the amount which you have overpaid.
Q4. Is credit card balance anyhow different from credit card limit?
Ans. Yes, both things are completely different from each other. Both credit card balance and credit card limits serve different purposes. Credit card balance is the total amount of money that a person owes to the bank after making several payment whereas, the credit card limit is the total limit of the amount which a person can use while making payments using the credit card.
Q5. What should I do if I don’t have an I’d and password for logging myself up on an online portal of the bank for the information of my credit card balance?
Ans. You should inquire with your bank about it, definitely, they would be having a legal explanation about it or maybe they will direct you to their mobile application which will be more convenient for you to use and you will be able to check credit card balance online.
Q6. How to check credit card balance online?
Ans. Different ways to check credit card balance online are:-
- Through a mobile app is a way to check credit card balance online.
- Using an online portal is another way to check credit card balance online.
- And internet banking is also one of the way to check credit card balance online.