How to Check Credit Card Balance & Meaning of Due Amount
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26 JULY, 2023

What is a Credit Card Balance?

A credit card balance refers to the overall amount a cardholder owes to their credit card company. Balances fluctuate depending on usage, increasing with purchases and decreasing with payments made by the cardholder. Any remaining balance at the end of the billing cycle carries over to the following month's statement and accumulates interest charges. A Credit card balance check is crucial in calculating an individual's credit score as potential creditors evaluate them to assess the risk and cost associated with extending further credit to customers.

Credit cards have revolutionized the way we buy and spend money. They come with a host of features and benefits that you can avail of based on your needs and preferences. Much of its popularity stems from the Buy Now, Pay Later option.

Using your credit card routinely necessitates constant monitoring, as it is a revolving credit that you will repay as per the schedule. One of the crucial aspects of monitoring your credit knows your credit card balance. It is the amount that you owe to the issuing bank.

When you are about to make a purchase transaction, running a credit card balance check is crucial. This way, you can keep track of your credit card balance and avoid waiting for your credit card statement.

How to Check Your Credit Card Balance?

There are several ways through which you can keep track of your credit card balance. Here are the top ways to check your credit balance:

  • Credit card statement

Your credit card issuer will send you the credit card statement every month after the billing cycle is closed. Credit card statements get generated every month. Although your credit card statement is sent to you via email, your bank will courier a hard copy if you want one. It contains information regarding your credit card balance.

  • Internet banking

The best part about credit cards in India is that you can make online purchases or check your credit card balance via the Internet banking facility provided by your bank. To check your credit card balance, you will have to log in with your username and password. The credit card statement is usually displayed on the dashboard or under the ‘My Account’ section. If your credit card statement is not generated yet for the month, you can check the current outstanding amount.

  • Mobile App

Yes, it is true. You can check your credit card balance by visiting your nearby ATM. To run a credit card balance check, you will need to swipe your credit card at an ATM and choose the ‘Card Balance’ option. You will need to enter your PIN. After entering your PIN, your credit card balance will be displayed on the screen.

  • Visiting the ATM

Checking your credit card balance can be done through various methods. One way to check card balance is by visiting an ATM and selecting the balance inquiry option, which will display your current credit card balance.

  • Via SMS

Another method is sending an SMS to a designated number provided by your credit card issuer, usually in a specific format, to receive your balance as a reply.

  • Contact Customer Care

Contacting customer care service is another way of “how to check my credit card balance” by providing the necessary details for verification. These options offer convenient ways to stay informed about your credit card balance.

Benefit of Tracking Credit Card Balance

If you frequently use a credit card to make purchases, knowing your credit card balance at regular intervals is crucial. Here are the benefits of keeping track of your credit card balance:

  • It enables you to know the outstanding amount

The benefit of checking your credit card balance is knowing the outstanding balance you must make on time. Besides that, it enables you to check unbilled chargers and report authorized transactions to your bank. It is the best way to stay updated with your credit card information and avoid late repayments.

  • You can find out the available balance on your credit card

When you know how much you have spent or owe your issuing bank, you can choose to spend judiciously. When you watch your credit card balance, you can spare yourself the embarrassment of credit card rejection when making a purchase.

  • Monitor and report fraudulent charges

Another benefit of checking your credit card balance is that you can monitor all the transactions that happen through your credit card. If you find unauthorized or fraudulent charges on your credit card, you can immediately contact Kotak Mahindra and raise a dispute. Doing this would save you money from paying unauthorized charges.

Difference Between Credit Card Balance and Credit Card Limit

People often confuse credit card balances with credit card limits. However, a credit card balance is the total amount of money you owe to your issuing bank. The balance amount increases when you make purchases, and it decreases when you make repayments.

A credit card limit is the predefined credit limit set by your issuing bank. It is the maximum amount that you can spend while using a credit card.

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Frequently Asked Questions

Can I check my credit card balance without logging into my online account?

After you know your credit balance meaning, stay updated on your balance, and avoid exceeding credit limits, there are multiple ways to check it.

You can conveniently log in to your online or mobile app banking platform, contact the customer service number on your card's back, or refer to your paper statement. Being aware of your balance is crucial for responsible spending and financial management.

Is it safe to check my credit card balance online?

The most efficient and convenient method to credit card balance check number is by logging in to the online portal or mobile app provided by your card issuer.

Almost every bank or credit card company offers these platforms, ensuring easy access for cardholders through computers or mobile devices. Rest assured, these online services are secure and safeguard your personal information.

How often should I check my credit card balance?

If you frequently face a credit card balance you're unable to pay in full, it is advisable to develop a routine of checking your accounts regularly.

Consider making it a habit to review your online credit card balance check every week. When finances are particularly tight, consider checking your balances every few days or even daily.

What should I do if I notice an error or discrepancy in my credit card balance?

Both the credit bureau and the entity responsible for providing information to the credit bureau are obligated to rectify any incorrect or incomplete information in your credit report, and they are required to do so without charging you.

If you need help with your account, contact the credit bureau and the business that supplied the inaccurate information. By contacting them, you can initiate the steps on “how can I check my credit card balance” to correct the mistakes and ensure the accuracy of your credit report.

Is there a fee for checking my credit card balance?

No, checking your credit card balance check number typically does not incur any fees.

It is a standard service provided by credit card issuers to allow cardholders to stay informed about their available credit and outstanding balance. You can check your balance through various methods such as online banking, mobile apps, ATMs, or by Email.

How can I avoid exceeding my credit card balance?

Here are some strategies to manage your and check credit card amount effectively:

● Regularly monitor your credit card balances by reviewing them consistently.

● Prioritize paying off your balances as soon as possible to minimize interest charges.

● Consider requesting a credit limit increase, which can provide more available credit and potentially lower your credit utilization ratio.

● Explore applying for a balance transfer credit card with favorable terms for transferring existing balances.

● Apply for a credit card with a higher credit limit, as this can increase your available credit and improve your credit utilization ratio.

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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.