It is more than halfway through 2023, and we see immense growth in credit card users. And with this, there has also been a 20% increase in credit card transactions over the past year, according to several reports.
But with this increase in credit card users, it has also become apparent that many people must complete their Credit Card bill payment. This process had originally been tedious and time-consuming, with people having to manually input credit card details for every credit card they own at their respective banks.
However, it has become much simpler to make credit card payments using bill payment apps. Let us look at the top 5 of them and see which is the best for our needs.
What is a credit card?
For those unaware, a credit card is a lending instrument that allows you to use money up to a predetermined amount, known as a credit limit. This amount is taken as a loan and would need to be paid back along with a set interest, which varies from lender to lender.
This can allow you to make purchases you want to make without having to wait for your salary every month. One thing to note is always to pay the entire amount and not just the minimum amount mentioned, as it can accrue interest and lead to considerable debt, worsening your credit score.
Which is the best credit card bill payment app?
Now that it is clear what a credit card does, exploring the best credit card bill payment apps in India is essential.
- Bajaj Finserv
Bajaj Finserv is a leading payment app for all kinds of transactions, investments, loans, etc. This is the app I have been using for more than two years now, and I have been loving it. Since I got this app, I have not needed any other apps for anything. It is the best app for credit card payment in India and many more things. I can make UPI transactions, pay my utility bills, property tax, and insurance premiums, and also invest in Mutual funds.
Rating: 5/5
- PayTM
PayTM is another app I have used for credit card bill payments, and it also offers a simple and convenient way to make bill payments.
Rating: 4/5
- Cred
Cred is a new entrant in the bill payment industry. It initially started as a credit card payment app offering cashback but has diversified into other kinds of bill payments and UPI in recent months.
Rating: 4/5
- PhonePe
PhonePe is another app that started as a digital wallet app and has transitioned into a payment app for utility, taxes, and credit card payments.
Rating: 3/5
- App of whichever bank your credit card is from
Although there are dozens of other payment apps, this position will be taken up by the app of the bank whose credit card you are using. This offers different benefits depending on which bank you are using.
How do you make credit card bill payments?
The process to make the payment for all of these apps differs, and In my case, as I am using Bajaj Finserv for my credit card bill payments, these are the steps I follow to make payments.
- Download the Bajaj Finserv app from the Google Play Store or Apple App Store.
- Sign up to create an account.
- Go to the ‘Financial Services and Taxes’ section and select Credit Card
- On that page, select the bank from which you got your credit card, enter your Credit Card number, and click ‘Proceed.’
- Your bill will be automatically fetched, after which you can select your preferred payment mode and click ‘Pay.’
- Enter your payment details and complete the payment
Conclusion
Those were some of the best credit card payment app in India and are the best choice when paying your credit card bill every month. Not only are they top-rated, but they also offer cashback and other features.
By using them, make the best use of your credit card like millions of Indians and take out the cumbersome part of it.
