Understanding how to know your credit card balance is the best practice you can follow to avoid overspending. Credit cards come with set limits, which is the total amount you can spend using your credit card. However, it may increase your spending unnecessarily.
By keeping an eye on your credit card balance, you can avoid situations that lead to payment default. Issuers usually provide numerous methods using which you can check your balance.
Brief Introduction
It is a good practice to pay your credit card bill in full on time. This way, you can avoid penalties and interest charges and pay only the minimum due. You can do so by keeping an eye on your credit card balance.
The credit balance is the total amount you are permitted to spend using your card. You will have to repay the funds you use to the issuer at the end of the billing cycle. However, if you cannot pay the whole amount, you can pay the minimum due amount to avoid certain penalties like a late payment fee.
Remember to keep a check on:
- Credit Limit
- Credit Card Bills and Due Dates
- Credit Card Balance
Importance of Monitoring Your Balance
Your credit card issuer establishes a specific spending limit on your card. However, this limit doesn’t always prevent overspending. It’s essential to track your spending closely to stay within your limit.
By doing so, you can avoid fees and maintain better control over your finances. Here are a few reasons why checking your bills at regular intervals is important:
- Gives a brief idea on spending habits
- Helps in managing the budget, helping you manage the upcoming finances accordingly
- Helps you detect any unauthorised payment or fraudulent activities
- By keeping an eye on balance, you can know how much you can spend
- As you monitor your credit card balance, you can avoid penalties related to not paying bills
Apart from that, tracking your spending keeps CUR in check. It is necessary to have a good credit utilisation ratio that is usually below 30 in order to maintain a good credit score.
Various Methods to follow
You can choose any convenient method to check your credit card bill. Issuers provide several options, both online and offline, to make this easy.
Credit Card Statements
Your issuer sends statements at the end of each billing cycle. You can check them to track your balance. Here is how:
- Review the statement sent to you by mail or email
- Find the section showing your current balance
- Refer to this balance to know what’s due for the period
Via SMS
You can enable SMS alerts to get your balance details after every transaction. Follow these steps to check your balance through SMS alerts
- Make sure SMS alerts are enabled with your issuer
- After each transaction, check your messages for the latest balance update
- Use this info to keep tabs on your available credit
Visiting Your Issuer’s Nearest Branch
Visit a branch if you prefer in-person balance inquiries. Here’s how to check credit your card balance in person at your issuer’s branch:
Locate and visit the nearest branch of your credit card issuer
- Ask a representative for your balance details
- Provide any required info to verify your identity
- The representative will tell you your balance
Calling Customer Care
A quick call to customer care can provide your current balance information. Follow these steps to get your balance from the customer service team:
- Call the customer care number provided by your card issuer
- Ask the representative for your balance information
- Verify your identity with a PIN or OTP, then receive your balance details
Using Mobile Apps
Many card issuers provide their own mobile applications. You can follow the following steps to check your credit card bill:
- Login to your account
- Select the credit card option
- Click the balance check option
You can follow any of these methods to check your credit card balance. That is an essential step to maintain your financial health. The One Credit Card comes with a powerful app using which you can check your balance.
It also gives you real-time information and provides all your spending information in one place. Using the full stack application, you can set spending limits. This way, you can plan your budget better.
You can also earn up to 5X reward points monthly on your top two spending categories. What’s more, you can save more with offers on groceries, entertainment, shopping, travel, education and fuel. Download the App or visit the website and apply now to enjoy the benefits of this lifetime-free credit card!
