Nowadays, it appears that the majority of people pay their utility bills online, either through their bank’s website or through their mobile app via their phone. Credit cards are increasingly being used to pay these expenses rather than direct debit from a bank or savings account. Credit card have been proven to be beneficial when it comes to payment of these services. While online payments with mobile apps are convenient, utility bill payments through credit card just takes it a step ahead. Let us explore monthly bill payments with credit card a little further.
What are credit cards beneficial when it comes to last-minute payments?
When it comes to balancing your last-minute expenses, credit cards are a secure bet. They are a financial product that lets you to borrow funds from both banks and non-banking entities up to a pre-approved amount to help you manage your finances. Many people regard it as a liability or a means of amassing debt. However, when used with caution, the benefits will outweigh the disadvantages.
Is it possible for you to pay all of your payments with a credit card?
Yes, you can definitely pay all your utility bills with your credit card. However, paying large payments with credit cards is not a good idea. It can also lead to increase in debts. It’s not a good idea to pay significant bills like income taxes or tuition with a credit card unless you can pay off your balance in full when the item is due. A better option is to speak with the IRS and set up a payment plan, which is typically cheaper than using credit cards.
That being said, paying with credit card has its set of advantages Most electric, gas, water, and garbage removal and utility bill companies accept credit card payments. Some companies charge a nominal price for this service, while others do not. If you have a rewards credit card, paying your electricity bill with it could be a good idea. Here are some quick advantages of utility bill payments with your credit card:
- It’s simple, quick, and you can pay your utility bill from any place. Most mobile apps and websites allow you to securely store your payment information after you’ve used your credit card to pay a bill online so you don’t have to re-enter it the next time. You can make indane gas online payment, mahanagar gas online payment, and more with your credit card. To avoid late fees and interest costs, you can set up automated credit card payments.
- You can get money back or other benefits. Paying bills can help you earn more cash or incentives if your credit card provides you cash back or rewards points or miles every time you use it. You can earn cash back or other rewards. If your credit card pays you cash back or gives you rewards points or miles whenever you use it, paying bills can help you earn more cash or rewards. Check to verify if your credit card offers these benefits, as well as the size of the reward.
- It’s simple to keep track of your spending. Many credit card issuers allow water bill payment, water bill payment online. They also will supply you with free reports that categorise your charges. That can be a useful budgeting tool for keeping track of how much you spend on things like insurance, phone, cable, and internet service, utility bills, gas online payment and other expenses.
What are some of the best credit card options?
The Bajaj Finserv co-brand credit card is a popular option among credit card holders. Popularly termed as Supercard, it has a number of advantages. With just one swipe of your credit card, you can effortlessly turn your high-end purchases into simple and reasonable EMIs. On your credit limit, you can also get a quick personal loan for up to 90 days at 1.16 percent APR. With a simple tap of your card, you may make contactless payments of up to Rs 5000. You can also withdraw cash for up to 50 days at no interest from any nearby ATM. Discounts on movie tickets, remission of fuel surcharges, and other perks are also available. You can easily apply for the credit card with your mobile app.
You can use the Bajaj Finserv app to pay all your utility bills at a simple tap. The app not only enables easy credit card transactions, you can also pay with your debit card, net banking, UPI and Bajaj Finserv wallet.
So to conclude, each person’s financial condition is unique. Using your credit card to pay expenses may not be an issue if you can pay off the charges soon. However, if you let the costs to accumulate month after month, it may not be the greatest solution for you. You can opt for other payment modes for utility bill payments like debit card, net banking, UPI and Bajaj Finserv wallet with Bajaj Finserv app.