Monday, 10 February 2014

5 EFFECTIVE WAYS TO MAKE YOUR CREDIT CARD PAYMENT

CHEQUE

In case you plan to make payment on your credit card as the amount to be paid is big or you prefer settling your bills through cheque,the right approach to be safe and avoid delay in payment would be to drop the cheque in the drop box at least 7 days prior to your payment due date .The reason being that cheque clearance takes 2-3 working days.By the time the cheque is cleared ,add more days nearly 24-48 hours for the amount to be credited into your credit card account.

CASH DEPOSIT

Another way to make payment on your credit card is through cash deposit.In case you do not have time to make payment by cheque or do not have sufficient balance in your bank account or you prefer settling your credit card bills in cash,Cash deposit can be a very quick and fast payment option for you.As the amount that you deposit at the counter for making your payment in the credit card of the concerned bank,the payment is credit within 24 hours into your credit card account.

AUTO DEBIT FACILITY

Many credit card holders use the auto debit facility for settling their credit card dues.This facility can be used when your credit card and savings account are in the same bank.In the auto debit option,Your savings account is linked to your credit card account and every month on your due date the due amount is automatically debited from your savings account and credited to your credit card account.

ELECTRONIC TRANSFER FACILITY

This facility can be availed when your credit card account bank and your saving account bank are different.The procedure for availing the electronic transfer facility is that you are required to fill up the form for activating the ETF(electronic transfer facility)on your credit card.This form you receive along with your credit card kit.Once the Electronic transfer facility is activated your credit card payment is made on the due date fromyour other bank account.

TELETRANSFER

This is the most convenient way of making your credit card payment.This facility can be used only when your saving account and your credit card account is of the same bank.You can call up the customer care give your credit and bank account number and the amount that needs to be paid .Within 24 hours your payment is credited.