How to Pay Your Credit Card Bill

The Three Main Ways to Pay Your Credit Card Bill

You can pay your credit card bill in three ways: online through your card issuer's website or app, by phone, or by mailing a check. Most people pay online because it is fastest and you can set it up in minutes. The payment posts to your account within one to three business days, depending on your bank.

Each method works the same way from your card issuer's perspective — they receive money and reduce what you owe. The difference is speed and convenience. Online and phone payments are nearly when ready to set up. Mailed checks take longer to arrive and process, so you need to mail them earlier if you want to avoid a late fee.

Key Takeaways

• Online payment through your card issuer's website or app is the fastest method and lets you pay any amount, any time, without fees.
• You can set up automatic payments to pay a fixed amount or your full balance on a date you choose each month.
• Phone payments work the same as online but take a phone call; some issuers charge a fee for this method.
• Mailed checks must be sent to the address on your statement and take seven to ten business days to clear, so mail them early to avoid late fees.
• Late fees explore if your payment does not arrive by the due date shown on your statement, regardless of when you sent it.

Paying Online Through Your Card Issuer's Website or App

Log into your credit card account on your issuer's website or open their mobile app. Look for a button or tab labeled "Make a Payment," "Pay Now," or "Pay Your Bill." Click it and you will see a screen asking how much you want to pay and which account the money should come from.

Enter the amount you want to pay — you can pay part of your balance, your full balance, or any amount in between. Then select the bank account you want the money to come from. This is usually a checking or savings account at another bank. Enter that account's routing number and account number, or select it if you have already saved it.

Choose the date you want the payment to be sent. Most issuers let you pick today or any date up to several days in the future. The payment will leave your bank account on that date and arrive at your credit card company within one to three business days. There is no fee for paying this way.

Setting Up Automatic Payments

Automatic payments let you stop thinking about your credit card bill. You tell your card issuer to pull money from your bank account on a date you choose each month, and it happens without you having to log in.

To set this up, go to the same payment section on your issuer's website or app and look for "Automatic Payments," "Recurring Payments," or "Autopay." You will choose the amount (usually your full balance or a fixed dollar amount), the date each month, and the bank account to pull from. Once you confirm, the payment happens automatically every month on that date.

Most people set automatic payments to their full balance on the due date, so they never carry a balance and never miss a payment. If your balance changes month to month, you can still use autopay — just set it to pay your full balance rather than a fixed amount, and the exact payment will adjust each month.

Paying by Phone

Call the customer service number on the back of your credit card. Tell the representative you want to make a payment. They will ask how much you want to pay and which bank account to pull the money from. You will need to provide your bank's routing number and your account number.

Phone payments work the same way as online payments — the money leaves your bank account on the date you choose and arrives at your credit card company within one to three business days. Some card issuers charge a fee for phone payments (typically $10 to $15), while others do not. Ask before you give your bank information.

Phone payments are useful if you do not have internet access or prefer talking to a person. They are slower than online payments only because you have to wait on hold and go through the process with a representative, not because the payment itself takes longer.

Paying by Mail

Write a check for the amount you want to pay. On the memo line, write your credit card account number so the issuer knows which account to credit. Put the check in an envelope with the payment coupon from your statement (if your issuer sends one) or just your account number written clearly.

Mail it to the address shown on your statement under "Payment Address" or "Make Checks Payable To." Do not mail it to the customer service address — use the specific payment address, which is often a different location.

Mail takes seven to ten business days to arrive, and the issuer needs another day or two to process it. This means you should mail your check at least ten to twelve days before your due date to be safe. If you mail it closer to the due date and it arrives late, you will be charged a late fee even though you mailed it on time.

What Happens If You Miss the Due Date

Your due date is printed on your statement. If your payment does not arrive by that date, your issuer will charge a late fee. The fee amount varies by issuer but is typically $25 to $40 for the first late payment and higher for repeat lates.

A late payment also gets reported to credit bureaus and can lower your credit score. It stays on your credit report for seven years. If you are more than 60 days late, your interest rate may increase, and if you are more than 180 days late, your account may be sent to a collection agency.

If you miss a payment by accident, contact your issuer as soon as you realize it. Some issuers will waive a single late fee if you have a good payment history and ask. The sooner you call, the better your chances.

Understanding Minimum Payments and Full Balances

Your statement shows two amounts: your minimum payment and your full balance. The minimum payment is the smallest amount you can pay to stay current on your account. It is usually 1 to 3 percent of your balance, or $25, whichever is higher.

If you pay only the minimum, you will carry the rest of your balance forward to next month and pay interest on it. The interest rate is your card's annual percentage rate (APR) divided by 12. If your APR is 18 percent, you pay roughly 1.5 percent interest each month on the balance you carry.

Paying your full balance means you owe nothing next month and pay no interest. This is why most people set their automatic payment to their full balance — it keeps them from accidentally carrying a balance and paying interest they did not plan for.

Frequently Asked Questions

Can I pay my credit card bill with another credit card?

No. Credit card issuers do not accept payments from other credit cards. You must pay from a bank account (checking or savings), by check, or by cash at a physical location if your issuer has one. Paying a credit card with another credit card is considered a cash advance and comes with high fees and interest rates.

What if I pay more than I owe?

The extra money becomes a credit on your account. You can use it toward future purchases, or you can request a refund. Most issuers will refund overpayments if you ask, though it may take a few business days to process.

Do I have to pay the full balance to avoid interest?

Yes. Interest is charged on any balance you carry from month to month. If you pay the full balance by the due date, you owe no interest. If you pay anything less than the full balance, you will be charged interest on the remaining amount.

How early can I pay my bill before the due date?

You can pay any time after your statement closes. Most issuers let you pay online up to several days before your due date, and you can pay by mail or phone even earlier. Paying early does not hurt you — it just reduces your balance sooner.

What if my payment does not show up in my account?

Online and phone payments usually post within one to three business days. If it has been longer, log into your account and check the payment status, or call customer service. For mailed checks, allow ten to twelve business days. If your payment is truly missing, your issuer can research it and reapply it if needed.