One of the most significant improvements in people’s lives is the fintech revolution, which changed how we buy things daily. We prefer cashless payments via credit cards because they’re faster, easier to carry, and more secure. Across the globe, credit card bill payments have become more prevalent in recent years, and in this article, we will let you know what are the best credit card bill payment apps in India that you can use.
Benefits of Credit Cards
A credit card is a financial tool to pay for your shopping. It is also a way to gain rewards and save money. Due to this reason, most middle-class individuals have credit cards.
Besides being easy to carry in your wallet, credit cards offer interest-free credit for around 45 days. Family members can also get free add-on cards.
1. Access to credit
Credit cards work like a deferred payment plan, so you can use them now and pay later. Every time you swipe, money doesn’t go out of your account, so your bank balance doesn’t drain.
2. Incentives
Some credit cards offer reward points on purchases. It is possible to accumulate these points and redeem them later. In recent years, co-branded cards have gained popularity. Companies compete with reputable brands to sell products and services at a discount. To suit your buying habits, you can select a wide range of options, such as petro cards, shopping, entertainment, and others.
Many credit card bill payment apps give a percentage of money back to you for whatever you have spent with your credit cards.
3. Setting up a credit line
The advantage of having a credit card is that it allows you to build up a credit line. As a result, banks can now view a consumer’s active credit history. The information you provide about your card repayments and card usage is required. It is well known that banks and financial institutions often use credit card usage to evaluate potential loan applicants’ creditworthiness. Hence, a credit card is essential for a future loan application.
4. EMI facility
It is possible to defer payment on a large purchase using your credit card if you do not want to sink your savings into it. Furthermore, you can also pay off your purchase in equal monthly installments, preventing your bank balance from getting drained by a lump-sum payment. It is cheaper to pay through EMI than take out a personal loan to purchase a television or refrigerator.
5. Flexible credit
You get an interest-free period with credit cards, meaning you need not pay any interest for a certain amount of time. In exchange for paying off your credit card bill on time, you can avail yourself of free, short-term credit for 45–60 days.
Credit Card Bill Payment Apps: Benefits
The internet is full of apps that you may use to make payments on your credit card bill, but which is the one that may be the best for you? And which one can give you more benefits?
As a way of figuring this out, you can think about the following factors:
- Make sure you find an app that allows you to use UPI wallets/apps or your net banking account.
- If you pay your bills with the one that gives you cashback or a bonus, that would be a great choice.
- That can be a handy feature if the app gives you regular payment alerts to remind you when to pay your credit card bill.
- The program can provide an intelligent statement so that you have all the information you need about your payments and dues. This way, you can manage your finances better and ensure they are in order.
- Several apps allow you to check your credit score for free on their platforms.
- Users can find offers related to credit card bill payment in many apps, depending on the app they’re using.
Indian Credit Card Bill Payment Apps
1. CRED
With this platform, you can pay all your credit card bills in a single place, and you will also earn reward points on every rupee you spend towards the payment of your credit card bills. “CRED coins” are the reward points used in the CRED app, which you can exchange for a wide variety of products, services, and discounts. Upon redeeming your CRED coins on the app, you can receive offers within various categories and updates on these offers.
Checking all the registered cards on the CRED is easy because, with a single click, you can see all the payment histories. You can even hang on to some of the amazing features like ‘kill the bill’ that will help you earn cashback on your upcoming payments. As soon as your credit card bill is made, you’ll get a reminder to pay it on time. This will help you avoid missing or delaying payments in the future.
2. Paytm
Paytm is the most trustworthy credit card payment app in India, where you can get rewards after making credit card payments. There’s no permanent cashback structure, but the company is now running a limited campaign that allows users to get money back on their bills when they recharge their accounts.
3. Mobikwik
The Mobikwik app provides the best credit card bill payment offers to pay bills in advance. The moment you pay your credit card bill with Mobikwik’s app, you receive Supercash rewards. You can use it to pay for other purchases on the app (up to 5%).
4. PhonePe
It is possible to pay your credit card bill with the PhonePe app. In the process of paying your credit card bill, PhonePe offers scratch cards as part of its credit card bill payment offer. Once you’ve paid off your credit card bill, you will receive the reward.
5. Amazon Pay
Amazon Pay provides premium services like credit card bill payment. It uses your personal information while optimizing the checkout process. With Amazon’s security and fraud protection, consumers can be confident while shopping at Amazon. Simple integration, in-built support, and ongoing optimization make starting easy. It also offers prizes frequently.
Bottom Line
You can select the best credit card bill payment app after examining all the available options and comparing the benefits offered by each of these apps. Log onto Piramal Finance to read more such informative pieces.
