The digital world is growing really fast and with that, banking and other financial services have also become very convenient and easily accessible. When we talk about financial products and services, credit cards are among the most widely used products in our country. People have become so dependent on credit cards that they find it difficult to manage their expenses without these cards. Almost all the major card issuers provide the facility of internet banking these days, but not every customer understands the advantages of managing a credit card online. It makes everything much easier for you and you can make most of the credit card-related tasks done from the comfort of your home. If you are also not aware of the benefits of using an online credit card account, continue reading the article:
Benefits of Using An Online Credit Card Account
Most of the credit cardholders do use internet banking these days, but lots of individuals still don’t trust online methods. Just like you manage your savings account or debit card online, you can also use an online credit card account to make things easier for yourself. The following are some of the most significant advantages of managing a credit card account online:
Activation and PIN Generation
The process of activating a credit card or generating its PIN has become much easier due to internet banking. You don’t need to go to any ATM or branch to start using your card, but you can activate it in a few seconds via internet banking. Moreover, you can also change your credit card PIN whenever you want to do that.
Track Your Spends
When you manage your credit card online, you don’t need to wait for the monthly statement generation as you can check your spends anytime anywhere. It is one of the greatest advantages of credit card internet banking as you can check your account immediately after a transaction is made and check whether the amount the correctly mentioned there or not.
Get Bill Payment Reminders and Set AutoPay
Most of the internet banking portals of credit cards have the payment reminder feature, i.e, you can set reminders so that you don’t miss any payments. Missing credit card payments affect your financial health as well as your credit score, but by having an internet banking account, you can even set auto payments. If you don’t find it convenient to set full auto payments, you can at least set autopay for the minimum due amount so that late payment charges don’t apply to your account.
Read More: How can I Manage Multiple Credit Cards
Track and Redeem Reward Points
If you have a credit card, you would surely be earning some sort of reward points/cashback/miles through it. You can also track your earned reward points or cashback via internet banking. You can check the total number of rewards earned, the number of rewards earned in a particular month, and the number of rewards that are going to expire soon. Not only this, but you can also find an option to redeem your reward points if you manage your card online.
Check the Outstanding Balance
You can also check your total outstanding balance and the balance for a particular statement cycle via internet banking. If you keep checking your accounts, you can keep yourself aware of your expenses and stop spending once it seems like you have spent beyond your planned budget. Moreover, cardholders can also pay their bill partially or fully anytime that they find convenient.
Check the Available Credit Limit and Other Details
You can find every important detail about your credit card on the home page of your net banking account itself. You can check your available credit card limit after every transaction so that you don’t go beyond the limit. Sometimes people keep spending and they don’t even have an idea that they have spent more than the credit limit due to which many additional charges might apply to their account. If you manage your credit card online, you can reduce this risk.
Report Lost/Stolen Card Easily
You might be aware of the fact that credit card issuers provide a zero liability protection against a lost/stolen card if you report the loss to the bank in a timely manner. If you don’t use internet banking, reporting the loss to the bank might take a lot of time as you will have to visit the branch. But, with an online credit card account, you can easily find an option to report such loss and the bank can take the necessary action as soon as possible.
We hope that you have understood the importance as well as the advantages of managing your credit card account online. It is not just for one or two purposes, but you can do almost everything from the comfort of your home. From rewards tracking to monitoring your spends to reporting a lost card, internet banking makes every task easier and less time-consuming for you.