How to Check Credit Card Balance?

If you're frequent credit card user, it's paramount to know the balance at regular intervals. Let's explore the benefits of keeping track of the balance on the credit card.

1. Helps in knowing how much is outstanding: Checking your balance will help in ascertaining the balance outstanding which in turn aids timely payment. You can also check unbilled charges and raise a flag with the bank if there are unauthorized transactions. This way, you can stay up to date with card information.
2. To know the available balance: Knowing how much is available helps in deciding the spends. Just like you would do with a debit card, keeping an eye on the available balance will save you from the embarrassment of the card being rejected at a shop or online, when you need it the most.
3. General monitoring and flagging fraudulent charges: It also helps to keep track of transactions made during a specific billing period. If there are any unauthorized/fraudulent charges, you can always contact the issuer and raise a dispute in this regard, thus saving you from paying for charges which were not authorized.

Now that we've understood the importance of monitoring the balance, the section below provides details of various ways/resources through which you can keep a tab.

Different Ways to Check Credit Card Balance

1. At the ATM: By inserting the card in any of the ATMs, you should be able to get details of the balance on the card by selecting the relevant option from the menu. This service is available upon authentication by means of a PIN on the keypad. If you do not have a credit card PIN, explore other options or request for one with the issuer.
2. Monthly Statements: The issuer would send out statements after the closure of the billing period as and when they are generated. If you've subscribed for a hard copy, it would be sent by regular mail or courier service. Otherwise, they are instantly transmitted to the registered email id, giving immediate access. With most credit card issuers, a password is needed to open the soft copy. This password is generally a combination of personal credentials such as the card number and date of birth. The smartest way to check your credit card statements is by email. If you've not registered for this service, do so at the earliest since there are no additional charges for the subscription.
3. Visiting a Branch: Although a time-consuming option, balance information can also be obtained from the nearest branch if visiting one is convenient. The representatives have access to the card information on their systems that can be instantly retrieved and communicated after verification.
4. By Calling Customer Service Center: Balance information can also be obtained by contacting the customer service wing on the phone numbers provided. After authentication by PIN, critical information about the card can be obtained over the IVR or by speaking to the representative.
5. By Sending an SMS: If you've subscribed to SMS alerts, text messages are sent out by the systems as and when the transaction is made, providing you with details of the charge as a reference. The issuer may also send out periodic alerts like communicating the balance via SMS, which will help you refer to card information whenever you want.
6. Internet Banking: Perhaps, one of the most sought after ways to check card information including balance. You can check the balance on the go, across devices. All you need is an id and a password to log in. The credentials are generally provided when you sign up for a credit card as it comes in the welcome kit. Otherwise, some issuers also let you register for net banking on their portal. The information provided is up to date and in real time. With online banking, you can also request changes to your account and update personal information.
7. On the Mobile App: Another preferred way to check card balance is by using the app provided by the issuer on smartphones and other handheld devices. It's convenient, easy and instant. Nearly all banks maintain apps for mobile phones and tablets on platforms such as android and iOS.

Credit Card Balance Enquiry  

The majority of credit card bill defaults occur for two reasons: 

1. Financial crisis: In this scenario, the cardholder maxes out their card because they are unable to control their spending. They lack the funds to pay the credit card bill when it arrives.
2. Failure to meet payment deadlines: Most customers fail to remember when their bills are due and incur penalties as a result. However, if this keeps happening, it will have an impact on your credit score.

You can avoid both situations if you check your credit card balance, payment due date, and credit card balance regularly. You can check your credit card balance in a variety of ways through banks.