Usage of credit cards in India saw a spike of 27% in 2018-19 with the digital push that the financial market has received lately. Total spends in the credit card segment also increased to a significant number compared to the previous year, witnessing a total transaction value of Rs. 6 Lakh Crore.
While the popularity of credit card usage increases, financial institutions further supported this growth through facilities like online statements of credit cards. Cardholders can thus find all the transaction details as well as check credit card balance by accessing their monthly statement online.
Accessing a digital copy of your monthly transaction statement is now easier with card issuers facilitating methods like email and phone based apps as well. Access to the available balance as well as dues allows cardholders to keep a track on their spending and pay credit card bill in time. Resultantly, it also helps them maintain their credit history.
Now, have a look at how you can check the balance remaining in your credit card online.
Steps to check credit card balance online:
Know your credit card balance through one of the following ways.
1. Through online account
Financial institutions update the credit card statements of cardholders every month on their online accounts. Customers can login to their accounts with username and password to access these statements online.
Once they open the monthly statement, they can find several details related to their card. These include the likes of transactions made, reward points earned/remaining to be redeemed, outstanding balance, etc.
Follow the steps given below to check credit card balance online.
Step 1 – Go to your card issuer’s official website.
Step 2 – Log in with your credentials. If you are not already registered, sign up with your credit card number to complete the registration process.
Step 3 – Once logged in, proceed to view your credit card statement and check balance.
Card issuers like Bajaj Finserv have further simplified the process to check credit card balance online. Customers can check their balance along with other transactional details of their Bajaj Finserv RBL Bank SuperCard with just a few clicks. Along with this, the NBFC offers affordable financing as loans and advances at competitive interest rates.
They also bring pre-approved offers that make the process of availing advances hassle-free while saving valuable time. You can enjoy these offers on home loans, business loans and personal loans, along with various other financial products. To check your pre-approved offer, all you need to do is provide a few essential details like your name and contact details.
2. Through your registered email id
You can also check credit card balance through your email. Card issuers usually send these monthly statements to the registered email IDs of their customers. If your financial institution does not provide this facility, you can apply for the activation of this service to access your statement.
While checking your credit card balance allows you to plan your expenses accordingly, your monthly credit card statement also carries other essential details that have a crucial input in helping you manage finances. You must, therefore, know how to read your credit card statement correctly.
Keeping track of details like payment due date, minimum amount due and the total amount due, etc. help pay credit card bill on time and stay ahead of the debt. Checking credit card statement periodically is also a crucial step to use a credit card wisely.
Other essential details which cardholders should look out for to maximise the benefits of credit card usage include the following:
- The current billing cycle
- Opening balance of the credit card
- Closing balance of the credit card
- Total reward points earned
- Reward points remaining to be redeemed
Information about these pointers will help the user effectively follow the tips to get the most out of credit card. For example, if they purchase at the beginning of the billing cycle, they can utilise the entire duration of this cycle extending up to 30 days as well as the grace period, i.e. of up to 20 days, before they pay credit card bill.