How to Check Credit Card Balance

Regularly checking your credit card balance is necessary to avoid overspending on your credit card and disrupting your finances. It also helps you avoid any late payment fees and helps you maintain a good credit score. But what is a credit card balance, and how can you check it?

What is a Credit Card Balance?

Your credit card balance, also known as the statement balance, represents the remaining funds after subtracting your spending from your credit limit. As you make purchases, your available balance decreases, increasing when you pay off your credit card bills. You can easily check your balance by inquiring with your credit card provider. Keeping track of this balance is crucial, especially if you frequently use your card. It’s easy to overspend on big-ticket items, leading to debt if not managed properly. Regularly monitoring your available credit helps you pay off your dues on time.

The credit card balance includes the unbilled and outstanding amounts you owe to your bank or credit card issuer. If you miss a payment, you’ll be charged finance fees on the overdue amount, so timely payments are essential.

How to Check Credit Card Balance

Checking your credit card balance is extremely important to keep track of your expenses. Here are different ways in which you can check your credit card balance:

1. 
   

   Internet Banking

   Through internet banking, you can check your credit card balance online. To access your credit card details online, you’ll need to register it with your net banking account. If you’re an existing customer, your credit card will automatically link to your account. Otherwise, you’ll have to link it manually.

   After registering, you can navigate to the credit card section in the menu. Here, you’ll find options such as credit card balance, available balance, balance statement, and bill payment. These features allow you to track how much credit you’ve used, check your remaining credit limit, view the bill’s due date, and easily make payments. This tool helps cardholders manage their spending and ensures timely bill payments.

2. 
   

   Mobile Application

   An easy way to check your credit card balance is through your bank’s mobile app. If you have internet banking activated, you can log in from any mobile device and view your balance with just a tap. The mobile app also offers other features, such as transferring money, requesting changes to your account information, and updating your personal details.

3. 
   

   Mobile SMS

   If you’ve signed up for SMS transaction alerts, your bank will notify you of your credit card balance on your registered mobile number each time you make a purchase. Be sure to monitor these messages to stay informed about your outstanding balance.

4. 
   

   Bank Branch

   You can also visit your bank’s nearest branch for a credit card balance inquiry. By providing some card-related information, bank representatives can give you all the details about your available balance. However, this method is time-consuming and less common in today’s technology-driven world.

5. 
   

   Customer Service

   You can reach out to your bank’s customer support to inquire about your credit card’s minimum balance. The support executive will request an authentication PIN to verify your identity. For your convenience, customer support is available 24/7.

6. 
   

   ATM

   Another way to check your available credit card balance is to visit an ATM. Simply insert your card and follow the on-screen instructions. You’ll then be prompted to enter your PIN for authentication.

7. 
   

   Monthly Credit Card Statement

   Each month, banks and credit card issuers send out credit card statements to their customers. These statements, generated at the end of each billing cycle, are delivered via email or to your residential address if you’ve opted for a hard copy. Typically, these statements are password-protected, ensuring that only the cardholder can access them. The password is usually a combination of the cardholder’s card number, date of birth, or similar details.

Why is it Important to Check Your Credit Card Balance?

Now that you know how to check your credit card balance, you need to understand why it is important to check this balance regularly. Here are some reasons why:

• A
  

  Understand the outstanding balance

  Regularly checking your balance allows you to track your outstanding amount, ensuring timely payments.

• B
  

  Know the available credit limit

  When you know the available credit limit on your credit card, you can understand the existing limit you are left with to spend and avoid overspending.

• C
  

  Check for fraudulent transactions

  Checking your credit card balance also allows you to monitor transactions during a specific billing period. If you notice any unauthorised or fraudulent charges, you can contact the issuer to dispute them, protecting yourself from paying for charges that weren’t authorised.

• D
  

  Avoid unnecessary charges

  By checking your credit card balance on a regular basis, you can avoid unnecessary charges, such as making purchases you may not be able to repay. This helps form an effective financial management plan. You can plan your expenses according to your card balance and avoid overspending and getting into unwanted debt.

Difference Between Credit Card Balance and Credit Limit

What is the main difference between credit card balance and credit limit? Here are some points of differences you should know:

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Frequently Asked Questions (FAQs)