Nearly 7.3 Crore brand-new credit cards were issued in the country in 2024. This means that Indians have finally started to embrace credit cards, which is great news! Credit cards can do wonders for you if you know how to use them.
As the number of credit card users rose, many credit card payment apps were introduced to the market. These apps help you manage your credit cards and reward you for using them right. However, one should know how to maximise the features to benefit from them. Let's explore how to utilise these apps to their full potential.
Shriram One is the best credit card payment app you will come across in 2024. Why? Because it's not just a bill payment app! From applying for loans to paying your utility bills, get your financial needs met here. Simplify your finances by managing them from one place. Try out the app today!
Key Highlights
- Credit card management apps have plenty of useful features that users are unaware of. Explore the features of your credit card app in detail, to ensure that you don't miss out on anything.
- Using your credit card reward app, you can pay bills through multiple payment modes, monitor your credit limit, and track and organise your monthly expenses.
- Maximise the features of your credit card app by using it to set reminders for bill payments, check credit scores, and win reward points for paying dues on time.
Credit Card Payment Apps: Here's What They Can Do
You rarely use credit card bill payment apps to their full potential. Well, the reason is quite simple. You are not fully aware of the fantastic things a credit card payment app can do.
You may believe that a credit card app is only used to manage your credit card and pay your credit card bills. A credit card payment app does so much more. Your credit card information is saved, you are reminded to pay your payments, and you receive a variety of incentives. Here are some features of these apps that are not often recognised but are quite useful.
1. Earn Rewards
You may not know this, but you can earn lots of rewards just for paying your credit card bills on time. Credit card reward apps provide cashback, reward points, discount coupons, and other rewards to those who pay their bills on time. Some apps may also run referral programmes, where you recommend the app to your friends and the app rewards you for that.
2. Set Reminders
Sometimes life gets busy and you forget that your credit card bill was due today. This small oversight can lead to unnecessary interest payments and late fees. Avoid this hassle by setting up a monthly reminder for your credit card bills on your credit card bill payment app.
3. Check Your Credit Score
Credit cards are often used to build a good credit history and improve credit scores. Having a favourable credit score is a big advantage when applying for a loan. Keeping this in mind, plenty of credit card management apps allow their users to check credit scores on the app itself. You can keep track of your credit scores without jumping to another website or app.
Pro Tip: Prefer a one-stop finance app that is not just a credit card bill payment app. Choose an app that takes care of your UPI payments, utility bills, loans, and insurance in one place to avoid jumping from one application to another for your finance needs.
How To Maximise the Features Of A Credit Card Bill Payment App?
Here are 5 ways you can make the most of your credit card rewards app.
Get to Know Your Credit Card Payment App
We often don't spend enough time exploring our credit card apps fully. Take some time to have a detailed look at its features, rewards policy, and terms and conditions. You may get to know of several lesser-known app features and rewards that you can benefit from. Then you can plan accordingly to ensure you take the maximum benefit of these apps.
For instance, Shriram One is not just an app to manage credit cards. You can also use the app to take other types of loans, explore customised insurance plans, and invest your excess funds.
Monitor Your Rewards and Credit Card Points
Your credit card company awards you points based on the volume of your credit card transactions. For every transaction, you get a pre-determined number of reward points. Keep track of how many credit card points you have accumulated using your credit card management apps. Similarly, you must have won rewards through your credit card app itself. Make sure that you monitor these rewards and utilise them.
Pay Your Bills On Time to Get More Benefits
When you clear your credit card dues on time, you become eligible for rewards from your credit card payment app. Most credit card apps allow you to set up reminders for your credit card due dates so that you never have to pay interest and late fees. You can also set up autopay so that your credit card bill amount will get automatically deducted from your bank account.
Paying your dues on time also has other benefits. This habit improves your credit history and helps you have a good credit score.
Track Your Credit Card Expenses
Credit card management apps are excellent for tracking your credit card expenses. Who has the time to go through credit card statements and review what you're spending on? It's much easier to let your credit card app do the work. You can review your spending, put your expenses into various spending categories, and be aware of where your money is going. It becomes easier to take corrective action.
Keep an Eye On Your Credit Limit
Making expenses above your credit limit can be tempting, but it is considered a bad idea by many. The habit of exceeding your credit limit can lead to serious financial issues, as the credit card debt starts adding up. Exceeding your credit card limit affects your credit score negatively. If you want to use a credit card to build a good credit score, you must learn to spend less than your approved limit.
You can track your credit limit usage with the help of a credit card payment app.
Use The Payment Methods You Like
Credit card management apps let you pay your credit card bills using a variety of payment modes. You can pay your bills using UPI, debit cards, net banking, and other modes allowed. This allows you a great deal of flexibility while making your bill payment. You can use the payment method you are comfortable with while making the payments.
Final Thoughts
Credit card payment apps can work wonders if you learn how to maximise their features. Credit card apps reward users who pay timely bills with reward points, and cashback, coupons, and such. You can use these apps to set reminders for credit card due dates, check your credit scores, and organise your card expenses into spending categories.
Surely, Shriram One is the best credit card payment app you can find. But, it's so much more than just that. Shriram One is an easy-to-use, comprehensive app that you can use to manage not only credit cards but your entire finances. It allows you to pay utility bills, transfer money to family and friends, pay your credit card bills, and make investments in a single app. On Shriram One, you can browse personal, business, and vehicle loans for your financing needs. You can also explore insurance policies for yourself on the same app. Get Shriram One today!
Frequently Asked Questions
1. How can payment reminders in these apps help users?
Payment reminders in credit card management apps help users by notifying them about their credit card payment date. This helps in avoiding interest and late fees on delayed bills.
2. How does transaction history tracking benefit users?
Transaction history benefits users by allowing them to track their expenses, organise them according to the spending categories, and be aware of where their money is going.
3. What rewards management features are available in these apps?
Credit management apps reward clients for paying their credit card bills on time. These apps allow you to win rewards, track them, and use them for your benefit.
