To ensure that you do not face any hindrances while using your credit card to make payments, it is important to keep a tab and do a credit card balance check every now and then. What is credit card balance? Well, credit card balance, which is different from credit card limit, is the sum of money spent on your card which you owe to the bank. Credit card balance decreases when you make purchases and increases when you pay back the dues.
Now that you know how credit card balance is different from the credit limit, here is how to check your CC balance.
Credit card balance checks can be done easily both online and offline. Here are the different ways in which you can check your credit card balance.
The credit card outstanding balance is updated at the end of a billing cycle. You can check your credit card balance online using either of the four methods mentioned below-
To check credit card balance using the net banking portal of your bank, you would need to first sign up and login into the official portal. Once logged in, you would be able to view the credit card balance on your dashboard. It will also be available in the ‘My Account’ section of the portal.
CC balance checker feature is also available on mobile apps offered by card issuers. To use the mobile app as the credit card balance check app you would need to first download the same and register for the service. Once you are logged in with the credentials you can go to your account information page where you will be able to verify the credit card balance.
A credit card balance check can also be done by sending an email to the bank. The mail should include your name, credit card number and date of birth, and be sent from your email id that is registered with the bank.
Your credit card statement also gives you an insight of the credit card balance. Apart from the list of transactions made, it also mentions the outstanding credit card balance and available credit limit.
Credit card balance enquiry can also be done offline. Here are the different ways in which you can attempt it.
You can call the credit card customer care number of your bank and post validation, request a customer care executive, or use the IVR feature to access information related to your credit card balance.
Transaction alerts through SMS also provide details about your outstanding balance every time you use the card for purchases. Some banks may even offer the advantage of periodic notifications whereby the outstanding balance and credit limit information is sent via SMS, each month, to your registered mobile number.
ATMs too offer the advantage of checking your credit card balance effortlessly. All you need to do is swipe your credit card on the dedicated slot and select the card balance option. Once you have authenticated your request with the PIN, you would be able to view your outstanding dues.
You can also visit the nearest bank branch to know your credit card balance. A bank executive would then check for authentication, post which your request will be processed.
There are several reasons why it is important to do a credit card balance check periodically.
Most credit card balance check services are free, such as calling on the toll-free number, visiting the bank, checking on the net banking portal or the mobile app, etc.
The credit card balance refund refers to the money that the bank owes you when you pay more than the outstanding amount on the card. In most cases, the amount is refunded to your credit card account which results in a negative balance on the card.
Yes, credit balance has a direct impact on credit score. If the credit balance is high or you end up spending more than the available limit, your credit score will be lowered.