You’re a Credit Card Owner. Now What?

How to Make Credit Card Payments

At this point, you already know how important it is to make your credit card payments. What you may not know is how to go about making these payments. There are several options to choose from, depending on the type of card you have. Here is an overview of common credit card payment methods:

Guy paying credit bills
  • Online payments: Sign into an online account and make a payment with your bank information. You can save the info for use at another time or enter it for every payment
  • Mail-in payments: Your credit card company should accept cash, check, money order, etc., but some companies will only accept certain forms of payment in the mail. Check with your credit card provider before sending money that may not be allowable.
  • Smartphone payments: Some credit card issuers have apps that you can download on your phone to make a payment. You can also use these apps to check your account balance, check your due date and much more.
  • Call-in payments: You may call the credit card company to make a payment, either through an automated system or with the help of an operator. Just note that there will probably be a fee for this option, especially if you get the help of someone live.
  • Balance transfers: If you have multiple credit cards, you do have the option of transferring the balance from one to another. This isn’t always a smart idea because you will have to pay a balance transfer fee. The higher the fee or the balance you’re moving, the more money you’ll have to pay.

Some of these payments show up instantly, but others, like the mail-in ones, may take a few days to go through. Note this duration before waiting until the last minute as you may end up with an unexpected late fee.

Knowing When and What to Pay

If you don’t know your billing date yet, call your credit card company and ask. You may also find this information in an online account or a downloaded app. If you get billing statements in the mail or by email, the due date will be listed somewhere on there. All you have to do is abide by it.

You may have a small grace period on your credit card payment where the company basically extends your deadline. This could be a day or two, or it could be as long as two weeks. It is never a good idea to get in the habit of using grace periods because that will teach you to ignore due dates. Nevertheless, if you have to be a couple days late on a payment, it may not be as bad as you think.

In terms of knowing how much to pay, again, you need to check your billing statement. Cover the minimum amount and any extra you can, and make sure you submit payment before the due date.