3 Credit Card Alerts Worth Setting Up Now - Kotak Bank - Kotak Bank
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28 APRIL, 2022

Credit cards are the most useful financial tools at present for financial emergencies. We can pay medical bills or shop for a gadget with the available credit card limit. Once we have ample funds, we can repay the credit card bill for getting a credit limit for the next billing cycle. However, many credit card users don’t know about all the available facilities. For example, many credit card users know nothing about credit card alerts. Even if you are using the best credit card in India, you need to set up alerts for effective usage of your credit limit. Read on to know the credit card alerts one should choose in 2022.

Understanding credit card alerts

Credit card alerts help you keep an eye on credit card activity. Credit card alerts are delivered via push notifications on in-app messages. You just have to download the dedicated mobile application of your credit card issuer to receive push notifications. Some credit card issuers offer email alerts to the user for monitoring the credit card activity. Some credit card users think they can handle their credit card activity without any alerts. Well, some things can be overlooked by you while using a credit card.

For example, you may overspend any month and may not have a track of the available credit card limit. In such a case, an overspending alert could save your credit card limit. Credit card users are often caught up in hassles like fraudulent transactions. In 2022, credit card alerts are a must for avoiding hassles. Almost all credit card issuers allow users to set alerts on their credit card activity. Credit card alerts also offer control of the credit card activity to the user. One can easily set credit card alerts via the mobile application or website of your credit card issuer.

Top Credit Card Alerts To Use In 2023

Do you know that around 40% of millennial credit card users rely on push notifications from the credit card issuer? Also, more and more banks are launching dedicated mobile applications for credit card users. As a responsible credit card user, one should know the best alerts to monitor credit card activity. The credit card alerts to use in 2022 are as follows:

Credit card bill payment deadline alert

Many credit card users rely on the autopay facility to pay their credit card bills timely. Via the autopay feature, the credit card bill amount will be automatically deducted from the linked bank account/wallet. You don’t have to pay the bill manually when you have selected the autopay feature. Many online credit cards in India offer the autopay feature to users. However, not all credit card users rely on the autopay feature. It means they have a chance of missing their credit card payment due date.

Once you miss the credit card payment due date, your credit score takes a hit. Also, the credit history suffers a hit when credit card bills aren’t paid timely. The credit card bill payment deadline alerts will ensure that you never miss the payment deadline. If you miss the payment deadline, your credit card issuer may apply interest charges or late fees. With a due date alert, you will get to know the credit card deadline beforehand. Based on your due date, you can make arrangements to avoid a late fee or interest charge.

The due date alert is also one of the most-used alerts by credit card users around the globe. No one wants to miss their credit card bills and decimate their credit score. Due date alerts can be easily applied via the mobile application or website of your credit card issuer. You will receive a reminder before the payment deadline and save yourself from penalties.

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Credit card balance alerts

One should not get too lousy with their available credit limit and start overspending. As you keep using the available credit card limit, your credit card balance increases. You should not use the complete available credit card limit as it will hamper the credit utilization ratio. According to credit card experts, one should only use up to 30% of the available credit card limit. It will help you in maintaining a better credit utilization ratio. A better credit utilization ratio will make you eligible for future loans or credit limits.

How will you know that you are overspending on your credit card? Well, you can set a credit card balance alert to prevent overspending. Whenever your credit card balance goes above a certain amount, you will receive a push notification. You can immediately control your spending and maintain the credit utilization ratio. You are free to choose the credit card balance amount on which you will receive a push notification. Make sure you keep the 30% utilization of credit limit in mind while setting up a balance alert.

Alerts for spending/transactions

Many times, people are confused after looking at the credit card statement. They can’t remember whether they made a particular purchase or not. Instead of reconciling credit card transactions at the end of the billing cycle, you can approve them as and when they occur. With alerts for spending/transactions, you can reconcile every payment as it occurs. You can choose to receive alerts for any transactions over a certain amount.

You can also choose to receive alerts for each credit card transaction. Spending alerts are helpful to identify fraudulent transactions. If you think you haven’t made any transaction via your credit card, you can notify the credit card issuer in real-time. Spending alerts are also helpful for joint account holders. Say no to ‘mystery charges’ by taking control of your credit card activity with spending alerts. One can easily set the spending alert via the mobile application or website of the credit card issuer.

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Final words

Credit card users should have complete control over their credit card activity. An online credit card will allow you to set several alerts for keeping an eye on the credit card activity. Set up your credit card alerts in 2022!

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.