Key Points:
-
You can pay your credit card bill online or through a mobile app.
-
To pay your credit card bill online, you need to register your account.
-
You can set up recurring payments through your online account so you don't miss a due date.
Online credit card bill payment is one of the easiest and most convenient ways to help manage your credit. It’s helpful to know how to go about (and what you need) to set up your account. Once you’re connected to your account, you’ll also have the benefit of 24/7 account access, and you can set up automatic payments and mobile alerts.
When you learn how to pay your credit card bill online, you can also save time since you won’t have to write a check, purchase stamps, or go to the post office.
Different ways of making credit card payments online
There are two different ways you can pay your credit card bill online. The method you choose will depend on what’s most convenient for you.
- Mobile bill pay: Some credit card issuers have mobile apps that you can use to pay your bill. All you need is the information for your payment account.
- Online bill pay: You can sign into your credit card account using your card issuer's website. Once you provide your bank account details, you can start to make your credit card payment online.
What are the benefits of online credit card payments?
There are many benefits when you pay your credit card online, including having instant access to many services to help you manage your account. For example, you have 24/7 access to:
- Check your credit card balance and view your transactions on your credit card statement
- Set up an automatic payment on your credit card bill
- View your billing statements
- Download or print statements for your tax or personal records, and much more.
How to create an online account to pay your credit card bill
To pay your credit card bills online, you will need to create an account with your credit card issuer. To do so, you’ll need to register your account, and you might be asked for the following information:
- Credit card number
- Expiration date
- Date of birth
- SSN
You may also have to create a username and password to sign into your account in the future. Be sure to keep this information in your records. Once you have made your online account, you'll be able to check your balance, review transactions, pay bills, and more (depending on your credit card company).
Did you know?
Discover® Cardmembers can sign up for credit card alerts to keep track of their minimum payment due date. They can also set up alerts or reminders to track their spending.
How to pay your credit card bill online
You have different options as to how you can pay your bill each month. Typically, you can make manual, automatic, and one-time payments on your credit card company's online cardmember portal. You can make these payments with your bank information using Automated Clearing House (ACH) payments.
ACH payments—also called ACH transfers—let you to transfer money from one account (like a bank account) to make a payment on another (like on your credit card account). You can set up ACH payments as one-time or even recurring automatic charges. Typically, you need to provide your credit card account information and banking information, like your routing and account number. Sometimes you can automatically connect these accounts using your online banking credentials if your credit card company allows it.
When to pay your credit card bill online
By law (specifically the CARD Act of 2009), your credit card bill must be due on the same date each month. Since your due date will be the same, it makes it easier to budget for your credit card bill payment. You should try paying your bill on the same day each month to avoid missed charges and fees.
Some credit card companies allow you to connect your bank account to your credit card account, so you can make automatic payments via your bank every month.
With automatic payments, you can set things up so that your credit card company deducts a recurring amount every month from your bank account. Automatic payments may help you avoid late or missed payments.
Keep track of your credit card bill with mobile alerts
Moreover, some credit card companies will allow you to set up mobile alerts, where you'll get notified about your due date when you make a payment, when your statement is available, and more.
How to manage payments on more than one credit card
If you have more than one credit card, you may be able to request the same due date for each account. To do this, contact your credit card issuer or make the request through your account profile online. With the same due date on all your cards, you won't have to keep track of different payment dates.
How much to pay on your credit card bill
When you view your credit card statement online, you will see your statement balance, minimum payment, and your current balance. But what does this mean, and how does it factor into the amount you have to pay each month?
Pay your statement balance
Your statement balance (also called your new balance) is the amount of money you spent during the previous billing cycle. When you pay off your statement balance, this is also paying your statement off in full.
Your minimum payment is the least amount you need to pay to keep your account in good standing. “Good standing” means your credit card company won't charge you a penalty or late fee. If you make the minimum payment, the remainder of your balance will carry over into the next month. You’ll still need to pay what's left, but when you make the minimum amount due, you can wait to pay the balance.
If you pay anything less than the minimum payment your interest rate might increase, and late fees might kick in. Your credit card issuer will report any missed payments to a credit bureau, and this might affect your credit score and credit history. Your payment history typically makes up 35% of your total credit score.1
If you’re on a tight budget, you can make the minimum payment. One downside is that any balance you have left will continue to accrue interest, so you’ll run the risk of accumulating credit card debt if you can't keep up.
Your current balance is the amount of money you have spent to date. This includes your statement balance plus any purchases posted on your account after the end of your billing cycle.
What happens if I miss a credit card payment?
When you miss a credit card payment, you may get late fees or penalty interest rates. Your credit issuer will also report your payment history to credit reporting agencies, which can impact your credit score. By paying your credit card bill online, you may help you keep track of your spending and make credit card bill payment easier.
