Credit cards, one of the most popular modes of cashless transactions, have become the prevalent and fastest-growing mode of alternate currencies in India. The total sum transacted via credit cards has crossed approximately Rs. 55,000 Crore in December 2018, crossing debit cards by almost Rs. 1,000 Crore.

Credit cards in India – A brief overview

●       158.3 million – Transactions completed at various POS terminals via credit cards between FY 2017-2018.

●       28% – Increase in total number of transactions via POS terminals within a 12 month period till December 2018.

●       8.7 million – New Credit cards added between December 2017 and December 2018.

●       44.2 million – Credit cards operating in India (as per studies conducted in December 2018.)

There are several financial institutions in India that offer feature-rich credit cards to eligible applicants. These include both government-backed as well as private financial institutions.

Bajaj Finserv RBL Bank SuperCard, offered by Bajaj Finserv in association with RBL Bank combines the benefits of 4 different types of cards in one. It can be used as a standard credit card, cash card, loan card, and an EMI card, eliminating the need to carry separate cards altogether.

Moreover, Bajaj Finserv RBL Bank SuperCard offers various methods of bill payment, both online and offline, which simplifies the credit card bill payment process.

Online methods to clear credit card dues

Bajaj Finserv offers several online methods to pay credit card dues. These include payment via dedicated mobile application, NEFT, NACH, and other facilities. Let’s take a look at how one can benefit from the hassle-free payment methods available for RBL Bank Credit Card.

●       Via RBL MyCard application – One of the most convenient methods of credit card bill payment is via the dedicated mobile application. This mobile application holds all the essential data of an individual’s credit card, including available balance, billing cycle, usage data, etc.

One can easily repay the due amount by navigating to the “Make a Payment” option in the application. Here, the user will be presented with the option to pay the minimum or total outstanding due amount. Once a selection is made, one can enter relevant details like the payee account number of UPI ID to complete credit card bill payment.

The complete process usually takes a few minutes, post which a successful fund transfer message will be displayed in the application.

●       Via bill desk – Cardholders can also clear the due amount via Bill Desk. It is an online facility similar to NEFT, where the due amount can be repaid through another payee account. SuperCard holders can utilise the dedicated Quick Bill web portal to complete the process. It is one of the primary advantages of Bajaj Finserv RBL Bank SuperCard.

●       Via NEFT – NEFT, or National Electronic Fund Transfer system, is an online system that allows transactions between different financial institutions. Credit card bill payment via NEFT ensures hassle-free and quick transaction over the web.

Paying credit card dues via NEFT requires certain details from the payee’s end. These include –

1.      Payee name as according to one’s credit card.

2.      Payee account number, or the 16-digit number of a credit card.

3.      Bank name, (RBL Bank.)

4.      IFSC code, RATN0CRCARD for RBL Bank SuperCard.

5.      Branch location, NOC Goregaon, Mumbai.

●       Via NACH – NACH, or National Automated Clearing House, is an automated payment system that allows crediting funds towards the outstanding dues at the beginning of every month. One can link their payee account and RBL Bank Credit Card with the NACH systems via filling up an application form and sending it for verification and enrolment.

NACH facility eliminates the hassle of remembering to pay the due amount every month, lowering the chances of missing payments despite having funds available altogether.

Bajaj Finserv RBL Bank SuperCard is one of the few credit cards that offer such a wide range of payment options, allowing a cardholder to select a process that best suits his or her usage. Moreover, Bajaj Finserv also provides pre-approved offers which eliminate the need for lengthy application and verification process. Such offers are available on both unsecured and secured credit options, including credit cards, personal loans, business loans, home loans, etc. You can check your pre-approved offer online by sharing only some essential details online.

All of the above mentioned methods offer a simple, yet robust repayment system for credit cards. Cardholders can save both time and effort by employing these online repayment methods.