Knowing your Credit Card balance is easy, instant and can be done online in a jiffy. All you need is just a few details of your credit card to check the balance.
How to check credit card balance is invariably the most sought-after question by every credit card user. Needless to say, every bank and NBFC that issues a credit card supports numerous channels through which its customers can check credit card balance. These include:
Monthly Credit Card Statement
The credit card provider generates a monthly statement at the end of every month once the credit card billing cycle closes. This statement mentions all the information pertaining to the credit card, including the credit card limit, usage during the month, details of the billing cycle, payment due date, paid instalments along outstanding balance. Interest, if any, levied on the previous outstanding balance is also mentioned therein. One can avail of the monthly credit card statement in form of a hard copy via post at the registered mailing address or get a soft copy via email at the registered email address.
For always on the go customers, net banking answers their query of ‘how to check credit card balance’. The online method of checking credit card balance can be used from anywhere, any time. Customers simply need to log into their bank’s net banking portal. The user name and password required in this channel are generally mentioned in the welcome kit given by the credit card provider during the sign up of the credit card. After logging into your account using the login details, one can navigate to the ‘My Account’ section to view other details regarding credit card balance.
On Smartphones credit card users can download the proprietary banking application. This allows the credit card used to remain posted about the credit card limit, unused credit card balance, credit card spending, bill due date, details about levied interests, accumulated reward points, etc on a real-time basis. These applications are locked through self-created passwords and thus provide added security and privacy.
Customer Care Helpline
Every bank or an NBFC has a designated customer care helpline number that provides assistance for customer queries. For all those who still rely on the traditional methods, a call at the customer care number of your credit card provider can answer your ‘how to check credit card balance question’. Either through IVR or by speaking to the customer care representative, cardholders can seek all credit card related information after completing customer authentication via PIN.
For the purpose of convenience and security, credit card subscribers have the option to avail SMS alerts on their registered phone number. This facility works on a real-time basis and provides information on every transaction initiated on the credit card along with the transaction amount and outstanding credit card balance.
One can also check the credit card balance at the nearest ATM booth. Simply swipe the credit card at the ATM machine and select the card balance option from the menu. The transaction can be completed only once you put the PIN number as the access code. After verification, the credit card balance can be viewed on the screen.
Visit to Bank Branch
A visit to your nearest bank branch can be of great help to first-time users who wish to get more information on how to check credit card balance. Representatives at the help desk can also provide information on how to balance transfer credit card outstanding amounts to a lower interest rate option.
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To be honest, credit cards have their own pros and cons. It offers the entire spectrum of benefits only if used properly. On the other hand, missed or overdue card payments attract hefty interests and late payment charges that push you into the debt trap. To avoid this mess, it is important that the credit card user is fully and regularly updated about their credit card outstanding.
Reasons, why one should check their credit card balance regularly, are:
Helps you know the outstanding and schedule timely payment
Checking credit card balance regularly makes you aware of the balance outstanding which helps in scheduling the timely payment.
Helps you know the unused balance and plan your next purchase
Credit cards come with a fixed usage limit, called the credit card limit. Every transaction changes the used to unused balance ratio. Once the credit card user transacts for an amount above the unused available amount, the transaction is declined. Therefore, being aware of the credit card balance helps you decide in advance and plan your spending.
Helps you monitor and flag fraudulent charges
A regular check of the credit card balance helps to keep a track of transactions made during a credit card cycle. Unauthorized charges or fraudulent transactions surfacing during this time can also be highlighted for reversal.
Helps avail balance transfer credit card
Being aware of the credit card balance helps you avail the option to balance transfer credit card outstanding to a different bank offering a lower rate of interest. This switch-over can help you save big in the long run.
Helps you maintain a good credit score
To maintain a good credit score is important for your financial health. Checking your credit card balance helps you avoid late payments and undue penal charges which negatively impact your financial history. Also, being aware of the ‘credit utilization ratio’ and keeping it under 30 per cent becomes more achievable.
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As a credit card using one is aware of the two terms - Total Credit Limit and Credit Card Balance. Simply put, the credit card limit is the maximum amount (limit) that the cardholder can spend at any given time. This limit is fixed by the credit card provider and is dependent on the income, age, financial standing, credit history, and existing liabilities of the credit card user. The credit card limit can be increased or decreased at the discretion of the issuer.
On the other hand, a credit card balance is the amount of credit that the user has availed. It is the amount that the credit card user owes to the credit card company. It is the sum total of any unbilled amount and the outstanding amount. The finance charges and late payment charges are levied on the outstanding credit card balance for each billing cycle.
From how to check credit card balance to know how to balance transfer credit card outstanding, here’s comprehensive information about how to check credit card balance for top banks in India:
How to Check SBI Credit Card Balance
State Bank Of India credit card users who wish to check their credit card balance can do so through the following modes.
Register on Website
SBI credit card users must register on the SBI Card website. The one-time registration process has the following steps:
For Balance enquiry - BAL XXXX
For Available credit and cash limit - AVAIL XXXX
For Last payment status - PAYMENT XXXX
XXXX here, are the last 4 digits of your card number. The SMS should be sent from the registered mobile number.
SBI credit card users can call on
Missed Call Service
Kind of information needed - Virtual mobile number
Credit card subscribers can avail of the option of getting a hard or soft copy of the credit card bill monthly on the registered postal address or registered email ID.
Visit the Bank
Credit card subscribers can visit the nearest bank branch to seek details of the credit card balance. Bank representatives can also provide information on how to transfer credit card balance.
The various channels through which ICICI bank credit card users can check their card balance are:
ICICI Bank credit cardholders can call the toll free helpline number to know their ICICI Bank Credit Card Balance
ICICI bank also allows customers to check their credit card balance at the nearest ATM booth. The steps involved are:
Visit the Bank
ICICI Bank credit card subscribers can visit the nearest ICICI bank branch to seek details of the credit card balance. The customer must keep the credit card number handy.
HDFC Bank credit card customers can check their outstanding balance through the following options:
Register on Website
Download HDFC Bank mobile app
XXXX here, are the last 4 digits of the credit card number
HDFC Credit Card users can call the customer care helpline @ (Local/STD Code) 6160 6161 and follow the IVR instructions to verify the credit card and seek details pertaining to the credit card balance.
HDFC bank also allows its customers to check their credit card balance at any ATM booth. The steps involved are:
HDFC Bank issues a monthly credit card statement that reflects the credit card balance. Customers have the option to get a hard copy of the credit card bill on the registered postal address or a soft copy of the same on the registered email ID.
Visit the Bank
HDFC Bank credit card subscribers can visit the nearest HDFC bank branch. A customer care representative present at the bank will assist you to seek details of the credit card balance. The credit card user must carry the credit card along.
Once the entire credit limit set on your card is used, all future transactions initiated on the card will get declined. The card will become usable again only when the total amount due or minimum amount due is paid on the due date.
Most credit cards allow cash withdrawal from ATMs. The money withdrawn is considered as Cash Advance and attracts finance charges as well as a cash withdrawal fee.
The minimum amount due is the minimum payment that the cardholder is required to make on/before the due date in order to keep the credit card activated. It is calculated at 5% of the total outstanding balance.