2 MinsApr 11, 2023
Knowing your credit card balance and due amount is crucial for avoiding late payment fees, maintaining a good credit score and managing your finances effectively. However, with different credit card providers and varying methods, it can be confusing
to figure out the best way to check your balance and due amount. In this blog, we will explore the various methods of checking your credit card balance and the due amount and help you choose the most suitable one for your needs.
What is a credit card balance?
A credit card balance is the amount of money that a credit cardholder owes to the credit card issuer for the purchases made using the card. It includes the outstanding
balance from the previous billing cycle, new purchases, cash advances, interest charges, fees and other applicable charges or credits. The balance is essentially the total amount that a cardholder needs to pay back to the credit card issuer.
It's essential to keep track of your credit card balance to avoid overspending and accumulating debt and to make timely credit card bill payments to avoid late fees and negative impacts on your credit score.
Importance of knowing credit card balance
Knowing your credit card balance is essential for effective financial management and avoiding unnecessary charges. The following are some benefits:
(1) Firstly, keeping track of your credit card balance allows you to stay within your credit limit and avoid overspending, which can lead to debt and financial stress. Additionally, knowing your balance helps you plan your expenses and avoid making
purchases that you cannot afford to pay back.
(2) Secondly, regularly checking your credit card balance ensures that you are aware of any fraudulent or unauthorised transactions made on your card. This can help you report and resolve such issues promptly.
(3) Finally, timely payments of your credit card balance can improve your credit score, enabling you to access better credit products and services. Knowing your credit card balance helps you stay in control of your finances, reduce financial stress
and build a strong credit history.
Also Read: [6 mistakes to avoid when using Credit Cards]
Different ways to check credit card balance
1. Online: You can check your credit card balance online by logging in to your credit card account on the issuer's website or mobile app. This option is convenient and available 24/7.
2. Mobile App: Many credit card issuers offer apps that allow you to view your balance, recent transactions and payment due dates. As an Axis Bank customer, you can quickly check your credit card balance using the Axis Bank
mobile app. The app offers various services, including viewing your account balance, recent transactions and payment due dates. You can download the app from the app store and log in to your credit card account to access this information.
In addition, you can also set up alerts for your credit card balance to stay on top of your spending and avoid overspending. The Axis Bank mobile app is a convenient and secure way to manage your credit card account, and it offers several
features to help you control your finances.
3. SMS: You can check your credit card balance by sending an SMS to the number provided by your credit card issuer. You need to send a specific code to the given number to receive your balance information.
4. Phone: You can call the customer service number to check your balance. A customer service representative will assist you in providing your balance information.
5. Monthly Statement: Your credit card statement provides your balance, payment due date and other essential account information. This statement is typically sent to you by mail or email each month.
In summary, there are several ways to check your credit card balance, and you can choose the one that works best for you based on convenience, accessibility and personal preferences.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.