How to know the Credit Card Balance?

Credit cards have redefined the manner of transactions people make. There implies no second thought that using credit cards possess immense benefits, offers and popularity. This is all because of the fact ‘buy now, pay later’ option that lets us transact using cards with ease. However, routine use of cards also demands discipline and constant monitoring. After all, one has to repay all the credit taken for purchases within given period of time. Every credit card has its credit limit which once exceeded can cost the user much more than expected. Thus, monitoring the credit balance is highly imperative.

Benefits of monitoring your credit card balance

While it is important to stay within your credit limit to avoid extra expenses and large interest rates, there are immense benefits of keeping track of your credit balance time to time. Some of these are:

  • Helps to identify the outstanding amount
  • Checking balance at regular intervals enables the card holder to keep a track of his expenses and make timely payments. One can find if any unbilled charges are raising a flag with the bank if unauthorised transactions.
  • Check balance
  • Regular updates on the credit balance help plan your spending. One can evade the chances of rejection while transacting at shops causing embarrassment.
  • Weary of fraudulent charges
  • Monitoring your transactions during a particular billing period can let you avoid any fraudulent or unauthorised charges. One can raise a dispute ultimately saving you from unnecessary payments.

Understanding the importance of credit balance leads us to another question asking what the various ways that can help keep track of your balance are.

Ways to track your credit card balance
ATM

One can easily track their credit card balance at any ATM. Select the relevant option, put in the PIN and choose the check balance option to know the balance details.

Monthly statements

At every closure of the billing period, the issuer issues a monthly statement of your balance. If the user is subscribed to a hard copy, the statement shall be sent by courier or regular mail. Else, one can get it on their registered mail for instant access. Usually, the users are allotted passwords which are a combination of one’s credentials like the birth date, card number, etc. checking the email is the smartest way to access the credit card balance. Thus, if you do not have online access, get it today free of cost.

Branch visit

One can visit their nearest branches to know the balance. The representatives of the bank give you accurate and updated information only after verification.

Customer service calling

Every bank provides its unique contact number to its customers for queries. One can call the customer care to know the balance. However, one might need to disclose their PIN and other information before communicating the balance.

SMS service

Subscribing to SMS alerts can fetch you complete details of your transactions. Some banks also sent periodic alerts through SMS letting you refer to all the necessary information.

Internet banking

The users are also provided with a login ID and password for their net banking access online. We generally receive the same along with the welcome kit. In other cases, the issuers let you create your online account yourself on the bank’s portal. Internet banking fetches a person an up to date information within minutes. Also, one can change their personal details and keep track of all the transactions.

Mobile app

This is another method famous throughout the world after the introduction of phones. Applications have become easier, convenient and instant. Android and iOS users can avail complete benefits for the same.

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