With its ease of use and flexible payment options, a credit card has become an integral part of our life. A credit card's discounts offer and deals are unsurpassed by any other financial product, making it a gold mine for the savvy consumer. Credit cards, on the other hand, can become debt traps if not handled properly or if you spend more than you can afford to repay when the bill arrives.
Did You know?
Andhra Bank was the first bank in India to issue credit cards in 1981.
Also Read: How do You Add a Credit Card to Google Pay?
Options Available for Making Payment of Credit Cards
In this era of credit cards, many options are available for the bill payments of credit cards. To attract customers, many platforms have introduced various different offers on the payment of credit cards through their platforms. Let’s take a look at some of the best offers offered by some platforms like CRED, Paytm, and Mobikwik.
Credit Card Bill Payment Offers on CRED
CRED is a fantastic program that rewards you with gift vouchers, rebates, and discounts for each credit card bill you pay with it. With this variety of incentives, you can accomplish a lot more when paying for your credit card. For example, when you use a partner bank's debit card to pay bills on CRED, you can obtain free cinema tickets. CRED has a list of appealing incentives; all you have to do is look through them to choose what suits you best and then use it to pay your credit card bills!
The software was designed by Kunal Shah, the founder of FreeCharge. The CRED app seeks to make using credit cards easier and more automatic. The software also offers a variety of incentives in the form of CRED coins, which can be exchanged for cash or special deals. However, not everyone has access to the CRED app. Users with credit ratings of at least 750 are eligible to utilise the CRED app.
How to Get Membership in CRED?
To become a member, you must first download the app and register using your full name and a legitimate Indian cellphone number. Credit agencies such as CIBIL, Experian, and CRIF verify the aspirant's credit score. The applicant will be approved as a member of CRED if their credit score is higher than the recognised qualification level. Once you become a CRED member, you will be able to take advantage of CRED's restricted collection of special benefits and privileges.
How to Make Payments through CRED?
The entire procedure is straightforward and takes less than a minute.
- Install the application.
- Sign up with your phone number and confirm with an OTP.
- Because CRED has agreements with credit bureaus such as Experian, all of your cards will be reflected as soon as you log in.
- Fill in the disguised digits on your card to authenticate it and add it to the app.
- Congratulations! CRED promptly confirms your card. You have now joined CRED.
- You can now pay your bills and get reward points in proportion to the amount paid.
Offers by CRED
CRED is a members-only club that compensates consumers who pay their credit cards on time with exclusive offers and premium experiences. It's a program that allows credit card users to manage several cards while also receiving a credit score analysis. Every payment made using their app earns you CRED Coins, whether it's for your monthly credit card bills, rent, or even merchant payments utilising CRED Pay. A company that accepts CRED Coins as payment!
One of the app's many features was the credit card spending tracking and management tool, which provided the user with spend tracking and card usage efficiency analysis. CRED's AI-powered CRED Protect tool keeps track of all aspects of your card payment, providing deadline reminders, spending habits, and other card usage data. When a member buys with a credit card through the app, they can get discounts on events, experiences, gift cards, and upgrades from companies like Diesel and Cure. Fit, Myntra, and Olive Bar & Kitchen, among others
Because CRED membership is restricted, you must apply through the app by giving your full title and a genuine Indian cell phone number. You will be denied if your credit score falls below the minimum qualifying level set by credit agencies such as CIBIL, Experian, and CRIF. As a CRED member, you can instantly make your card payment experience more comfortable by taking advantage of several exclusive features.
- Payments are made easily using Debit Cards, Net Banking, and UPI.
- Receive automated credit card bill payment reminders and alerts.
- Receive mobile alerts for all duplicate credit card transitions.
- You can use CRED Protect to find concealed charges on your credit card.
- From a single gateway, you may manage various credit cards.
- Keep a constant eye on your credit score.
Cash Back on CRED – On payment of a credit card bill for the first time, there is a cashback of ₹200.
Credit Card Bill Payment Offers on Paytm
Paytm now has a special rewards section where you may activate offers and receive cashback for carrying out a specific type of transaction many times as specified in the deal. When you complete the T&Cs, you will receive cashback in your Paytm wallet.
You can currently activate an offer to receive guaranteed cashback when paying your credit card bills. The deals in Paytm's cashback area are tailored to each individual, so double-check to see whether you're eligible. Paytm accepts payments for all Visa credit cards and non-Visa credit cards issued by Kotak Mahindra Bank or IndusInd Bank.
Reward Points/Offers on Credit Card Payments on Paytm
Paytm often demands you to do many transactions of the same type regularly to obtain a reward. To qualify for the current offer, you must pay 5 consecutive credit card bills totalling a minimum of ₹3,000. These offers change regularly and will also vary according to your consumption.
Also Read: Everything You Need to Know About Obtaining a Credit Card Without CIBIL Score?
Steps to Make Payment through Paytm
- On the homepage, scroll down to the 'Recharge & Bill Payments' area and select the 'Credit Card Payment' option.
- On the next screen, you'll see a digital representation of your saved credit card with the option to 'Pay Bill.'
- You will be prompted to fill your bill amount and 'Proceed' with the payment after clicking on 'Pay Bill.'
- On the following screen, choose the bank account from which you wish to make the payment. You can also add a new payment card. After selecting your preferred payment method, click 'Pay,' input your passcode, and complete the transaction.
- You can also use the 'Pay with another card' option at the bottom of the screen.
- Save your credit card information to your Paytm account. The Paytm app automatically recognises the card type when entering the card number. It determines whether the card is Visa, Rupay, Amex, Mastercard, or other, and any connected banks. Click 'Proceed' after entering the amount you wish to pay.
- Depending on the card issuer, the payment will be posted to your credit card within a few minutes of completion. By paying your credit card payments via Paytm, you may also take advantage of enticing bank discounts and promo codes.
Credit Card Bill Payment Offers on Mobikwik
MobiKwik allows users to pay their credit card bills quickly and easily. Only a few easy steps are required of the user. In less than 5 clicks, users can pay their credit card bill online for any bank, including HDFC, SBI, Axis, and others. Users can also save money on their credit card bills by taking advantage of the MobiKwik app's credit card bill payment offers. To pay a credit card bill online, users just follow the simple steps below.
- Click on recharges and bill payment on the MobiKwik website.
- Credit Cards to Consider
- Please enter the credit card number for which you wish to pay your credit card bill.
- Enter your credit card bill amount.
- For your Online Credit Card Payment, click 'Pay Now and enter your payment information.
Cashback / Latest Credit Card Bill Payment Offers 2022 on Mobiwik
Mobikwik offers a flat ₹50 cashback on credit card bill payments. Mobikwik new May 2022, gives a fantastic cashback offer on bill payment of credit card from any bank, with a flat ₹50 cashback (Not SuperCash). Use the offer for credit card bill payment to earn rewards. Valid on your first bill payment transaction of the month with a minimum transaction of ₹7500. From the 17th through the 31st of May, the offer will be available once more.
This promotion is only good for one user at a time. The deal is valid for all users (old and new) and offers a maximum cashback of ₹50. The whole terms and conditions can be seen below.
Conclusion
Users of credit cards can obtain short-term credit from their banks to make fast payments. It is critical for credit card users to keep track of their credit card bill due date. The user must pay the dues every month. Users will be charged interest if they do not make their credit card payments on time. Late fees are also incurred when credit card bills are not paid on time. The above article provides a depth analysis of the options available for making credit card payments, the offers on credit card bill payments given by various platforms, and how to make payments through Paytm, Mobiwik, CRED, etc.
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