As of January 2018, the total number of credit card users in India stood at 84.67 crores, with the latest additions standing at approximately 2.87 crores. Other data on per month addition of credit cards in the Indian financial market shows a growth rate of 0.74% from December 2017 to January 2018.
It represents a significant spike in the available users of credit cards. Similar trends followed up from 2018 to 2019. While there isn’t an exact number available for the same, credit card transactions stand at 9.4% growth, year on year from last year to the present.
As the usage has witnessed a significant increase, credit card users also need to utilize the available credit limit cautiously and keep a check on the balance. It enables them to create a reliable credit usage history, which impacts the credit score positively.
Users must, therefore, know how to check credit card balance from time to time. Below mentioned are the ways by which users can check their credit card balance online. However, before moving on to the same, understand what a credit card balance is.
Credit card balance – An overview
Irrespective of the type of credit card you use, it is essential to be aware of the balance remaining for your card. It is an amount you are required to pay to your issuer. The amount, combined with the amount available for use, gives the total credit limit of your card.
For instance, if the credit limit of your card is Rs. 1,00,000, and you can still use Rs. 40,000, your credit card balance will be Rs. 60,000 for the concerned billing cycle.
How to check credit card balance online?
Checking your credit card balance online is one of the most convenient ways to know the same and keep a track of your spending. Here’s how you can check your credit card balance online.
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Through net banking
To check the balance through net banking, you can log in to your credit card account on your issuer’s website with your customer ID and password. Navigate to the tab dedicated to card statement and balance. If you have multiple cards from the same issuer, you will be required to choose your card number.
With this online method of checking your card’s balance, you can do so from your laptop, desktop, smartphone, or tablet. However, as the online process also brings along cyber threats, it is necessary to keep your CVV number protected and not provide it.
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With the help of mobile app
Presently, multiple credit card companies come with a dedicated app for credit cards. You can thus easily check your credit card balance online at your convenience through such apps. Additionally, you can also download your card statement through this app to know your credit usage pattern. Make sure you know how to read your credit card statement correctly to get an insight into other details available on the same.
Financers like Bajaj Finserv provide the Experian app to borrowers for easy access and management of their RBL Bank SuperCard. Along with that, they provide a varied line of credit you can utilize to meet your diverse financial requirements.
They also bring pre-approved offers that make the process of securing finance convenient and hassle-free. You can avail of these offers on several financial products including credit cards, personal loans, business loans, home loans, etc. All you need to do is provide a few essential details like your name and contact number to check your pre-approved offer.
Credit card issuers also bring alternative solutions for how to check credit card balance. Take a look at some of them.
- Through SMS.
- By contacting customer care.
- By visiting a nearby branch.
Now, with the solutions on how to check credit card balance, you may proceed with your selected method. Make sure to check it from time to time to know your spending habits and use your credit card wisely.
