Credit cards have become an essential part of our financial life. They not only provide us with a financial cushion but also help us in building our credit score. With the increase in the usage of credit cards, banks have come up with various features to make their credit card offerings more customer-friendly. One such bank is the RBL Bank, which offers a range of credit cards to cater to different needs. In this article, we will discuss the RBL Bank credit card payment methods and how to avoid late fees.
How to Apply for a Credit Card from RBL Bank
Before we discuss how to make a timely payment, let us first understand how to apply for a credit card from RBL Bank. Applying for a credit card online is a simple and hassle-free process. You can apply for a credit card through the RBL Bank website, or you can visit the nearest RBL Bank branch. To apply for an RBL Bank credit card, you must meet the eligibility criteria, which includes age, income, and credit score. Once your application is approved, you can expect to receive your credit card within 7-14 working days.
RBL Bank Credit Card Payment Methods
RBL Bank offers multiple credit card payment methods to its customers. These methods are designed to make the payment process easy, convenient, and hassle-free.
1. Auto Debit
Auto-debit is the easiest and the most convenient method of RBL credit card payment. Under this method, the bank will automatically deduct the minimum amount due or the total amount due from your bank account. To set up auto-debit, you need to fill up an auto-debit mandate form, which is available on the RBL Bank website or at the nearest branch. You can choose the date of debit as per your convenience.
2. Net Banking
Net banking is another convenient method of making an RBL Bank credit card payment. You can pay your credit card bill online from the comfort of your home or office. You need to log in to your RBL Bank net banking account, navigate to the credit card section, and click on the ‘Pay Now’ button. You can make a payment using your savings or current account. The payment will reflect in your RBL Bank credit card account within 2-3 working days.
3. Mobile Banking
If you are always on the go, you can use the RBL Bank mobile banking app to make an RBL Bank credit card payment. The app is user-friendly and can be downloaded from the Google Play Store or Apple App Store. Once you have installed the app, you need to log in to your account, navigate to the credit card section, and click on the ‘Pay Now’ button. You can make a payment using your savings or current account. The payment will reflect in your RBL Bank credit card account within 2-3 working days.
If you do not have an RBL Bank account, you can still make an RBL Bank credit card payment through NEFT. NEFT or National Electronic Funds Transfer is a payment system that allows you to transfer funds from any bank account to another bank account electronically. To make an RBL Bank credit card payment through NEFT, you need to add the RBL Bank credit card as a beneficiary in your bank account and transfer funds using the NEFT option.
How to Avoid Late Fees
One of the most important aspects of credit card payments is to pay them on time. Late payments not only attract a hefty penalty but also negatively impact your credit score. Here are some tips to avoid late fees:
1. Set Up Payment Reminders
Setting up payment reminders is an effective way to avoid late payments. You can set up a reminder on your mobile phone, email, or through your net banking account. By doing so, you will receive timely alerts to make a payment.
2. Set up Auto Debit
As mentioned earlier, auto-debit is the easiest and most convenient method of payment. By setting up auto-debit, you never miss a payment, and your credit score stays intact.
3. Make Partial Payments
If you are unable to pay the total amount due, you can make partial payments. This will ensure that you are not charged a late fee. However, keep in mind that making partial payments will attract interest charges on the outstanding amount.
4. Use Mobile Banking
Using mobile banking is convenient and ensures that you never miss a payment. With mobile banking, you have access to your credit card account 24/7, and you can make a payment on the go.
In conclusion, RBL Bank credit cards come with multiple payment options that are convenient and hassle-free. By choosing the right payment method and making timely payments, you not only avoid late fees but also maintain a good credit score. Remember that credit cards are a financial tool, and it is important to use them wisely.