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Credit cards have transformed the way we pay, transact and manage our finances. Paying with a credit card has made life easier and hence it is a simple and convenient payment option. But while we shop till we drop and reap the benefits of unlimited rewards that never expire, it is also important to monitor how much we are spending. It is imperative to understand and know your credit balance, and we’re here to show you how. Take a quick look –
Credit balance means the entire amount you owe the credit card provider at any given time. The credit card balance is not the same as the account balance, which is the quantity you owe at the end of a billing cycle or the minimum regular payment required to keep your account in decent standing.
You don’t always have to wait for the end of the month statement to check our credit card balance. There are several other ways in which we can check our credit card balance.
Here’s how to check credit card balance apart from your monthly statement.
If you want to check your credit card balance, you can do it in a few different ways.
By entering the card into any of the ATMs and selecting the appropriate selection from the menu, you should be able to obtain information about the card's balance. This feature is only available after a PIN is entered on the keypad. If you don't have a credit card PIN, ask the issuer for one.
After the billing period has ended, the issuer will send out statements. If you have requested a physical copy, it will be delivered via standard mail or courier. If not, they are immediately sent to the registered email address. To open the soft copy, you will likely need a password. This password is usually made up of a combination of personal information, such as the card number and date of birth. Checking your credit card statements via email is the most efficient method. If you haven't already done so, do it as soon as possible because there are no additional costs associated with the subscription.
After the billing period has ended, the issuer will send out statements. If you have requested a physical copy, it will be delivered via standard mail or courier. If not, they are immediately sent to the registered email address.
Credit balance details can also be received from the local branch if accessing one is feasible, albeit this is a time-consuming alternative. Bank personnel have recourse to card information stored on their systems, which can be retrieved and shared immediately following verification.
You can also get balance information by calling the customer support department. Critical information about the card can be provided either over the IVR or by communicating with a specialist.
If you have signed up for SMS alerts, text messages will be sent to you as soon as the transaction is completed. Regular alerts, such as conveying the balance through SMS, may be sent by the issuer, allowing you access to your card information at any time.
Another option to check credit balance is to use the issuer's app, which is available for smartphones and other mobile devices. It's quick, simple, and convenient. Almost all banks provide apps for smartphones and tablets that run on Android and iOS platforms. IDFC FIRST Bank also allows you to check your credit card balance on the app, making the process paperless and hassle-free. You can also know your billing cycle, check past transactions, and enable or disable many features of your IDFC FIRST Bank credit card online, via the App or net banking facility.
These methods that should answer your questions on how to check credit card balance. “Credit card users usually prefer checking their credit card balance on the app or website. However, as we have already seen, you can also check your credit card balance in many other ways.”
If you still have questions, you can always visit your bank’s website where the outstanding balance on your credit card will be available.
Good luck and happy saving!
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.