Defining Credit Card
Credit Cards are essentially metal or plastic cards provided by financial institutions to help borrow funds for transactional purposes like buying goods or services. Financial institutions like Banks, stores, etc offer varying types of credit cards for their customers. Some institutions also charge annual fees for using credit cards.
However, there is a condition to burrowing the fund by cardholders. Cardholders are liable to pay the borrowed sum and imposed interest within a specific period. The credit card also offers a myriad of other benefits to customers, making it a more enticing payment choice.
Understanding Standard Chartered Credit Card
Standard Chartered Credit Card offers an efficient way to negate any cash payment online and offline for customers. The bank provides user-friendly and instant approval of credit cards for customers. SCB is noted for providing 9 different types of credit to its customers to cater to every lifestyle.
Benefits of Standard Chartered Credit Card
Cash Payment: Cardholders can opt for cash payment for SCB credit card. They have to visit the nearest Standard Chartered Bank branch to make the payment. The bank has a designated counter for the payment of the credit card. However, it charges a processing fee to make the payment on behalf of the cardholder.
Mobile Banking: It is the most preferred form of SCB credit card payment today. Credit cardholders have to download and install the mobile bank app to make the payment. Customers need to log in to the app and opt for the credit card option. The tab will display all the different types of credit cards offered by the bank. Cardholder has to select their credit card and then opt for the pay section. The screen will display all the instructions to complete the process of SCB credit card payment.
Cheque Payment: One of the convenient ways to make credit card payments is using cheque payment. The cardholders need to write a cheque favouring the SCB to make the payment. Within the cheque, customers are required to enter details like card number, outstanding amount, etc. Then, they have to drop the cheque in the cheque box centre of the bank or bank-designated ATM.
Net Banking: Net banking is a user-friendly and hassle-free way to make credit card payments. The customers who wish to make the payment using the net banking of SCB have to log into the SCB net banking account, select the credit card option and enter the account number along with the payment amount. They have to then proceed to confirm the payment to process the credit card payment for SCB.
NEFT: NEFT can be utilized for SCB credit card payment via customer net banking facility. Customers need to add their SCB credit card number posing as a payee within their net banking account. Then the amount payable will be transferred via NEFT.
Auto Debit: Last but not least adding an Auto debit feature in cardholder SCB accounts will enable them to make credit card payments. The outstanding credit card payment will be automatically debited on the set due date by the cardholder. Another way customers can enable auto-debit is by signing instructions with the SCB manager of customer correspondence with their bank details to make credit card payments on the due date.
FAQs
1. How much time does a bank take to process credit card payments?
Ans. The bank usually processes the credit card payment within three working days.
2. What are the different ways to do SCB credit card payments online?
Ans. There are myriad ways to do SCB credit card payments including net banking, UPI, CRED app, mobile banking, etc.
To sum up, a Credit card acts as a revolving loan that cardholders need to pay on time to avoid penalty. The more delayed the credit card bill payment the higher the interest is charged on the cardholder. The overdue bill will also negatively impact the cardholder’s credit score. It in turn will create issues when they wish to get loans from financial institutions.
The financial institution will have less faith in the cardholder’s ability to make timely EMIs on the loaned amount resulting in the rejection of the loan amount to be issued. The credit cardholder should pay the credit card bill timely which will help with their credit score and also win reward points for them.
Credit Cards are essentially metal or plastic cards provided by financial institutions to help borrow funds for transactional purposes like buying goods or services. Financial institutions like Banks, stores, etc offer varying types of credit cards for their customers. Some institutions also charge annual fees for using credit cards.
However, there is a condition to burrowing the fund by cardholders. Cardholders are liable to pay the borrowed sum and imposed interest within a specific period. The credit card also offers a myriad of other benefits to customers, making it a more enticing payment choice.
Understanding Standard Chartered Credit Card
Standard Chartered Credit Card offers an efficient way to negate any cash payment online and offline for customers. The bank provides user-friendly and instant approval of credit cards for customers. SCB is noted for providing 9 different types of credit to its customers to cater to every lifestyle.
Benefits of Standard Chartered Credit Card
- The USP of Standard Chartered Credit Card is no joining fee.
- Cashback offers on fuel payment, utility bills and phone bills.
- Travel benefits like exclusive lounge entry on airport lounges across the globe, cash back, rewards, etc on customer travel expenses. Customers also get to do duty-free shopping from their desired International location.
- Premium benefits, card rewards for movie buffs and dining restaurants.
- EMI facilities for large transactions
- Contactless credit card luxury item or service purchases with varied redemption choices for customers.
Cash Payment: Cardholders can opt for cash payment for SCB credit card. They have to visit the nearest Standard Chartered Bank branch to make the payment. The bank has a designated counter for the payment of the credit card. However, it charges a processing fee to make the payment on behalf of the cardholder.
Mobile Banking: It is the most preferred form of SCB credit card payment today. Credit cardholders have to download and install the mobile bank app to make the payment. Customers need to log in to the app and opt for the credit card option. The tab will display all the different types of credit cards offered by the bank. Cardholder has to select their credit card and then opt for the pay section. The screen will display all the instructions to complete the process of SCB credit card payment.
Cheque Payment: One of the convenient ways to make credit card payments is using cheque payment. The cardholders need to write a cheque favouring the SCB to make the payment. Within the cheque, customers are required to enter details like card number, outstanding amount, etc. Then, they have to drop the cheque in the cheque box centre of the bank or bank-designated ATM.
Net Banking: Net banking is a user-friendly and hassle-free way to make credit card payments. The customers who wish to make the payment using the net banking of SCB have to log into the SCB net banking account, select the credit card option and enter the account number along with the payment amount. They have to then proceed to confirm the payment to process the credit card payment for SCB.
NEFT: NEFT can be utilized for SCB credit card payment via customer net banking facility. Customers need to add their SCB credit card number posing as a payee within their net banking account. Then the amount payable will be transferred via NEFT.
Auto Debit: Last but not least adding an Auto debit feature in cardholder SCB accounts will enable them to make credit card payments. The outstanding credit card payment will be automatically debited on the set due date by the cardholder. Another way customers can enable auto-debit is by signing instructions with the SCB manager of customer correspondence with their bank details to make credit card payments on the due date.
FAQs
1. How much time does a bank take to process credit card payments?
Ans. The bank usually processes the credit card payment within three working days.
2. What are the different ways to do SCB credit card payments online?
Ans. There are myriad ways to do SCB credit card payments including net banking, UPI, CRED app, mobile banking, etc.
To sum up, a Credit card acts as a revolving loan that cardholders need to pay on time to avoid penalty. The more delayed the credit card bill payment the higher the interest is charged on the cardholder. The overdue bill will also negatively impact the cardholder’s credit score. It in turn will create issues when they wish to get loans from financial institutions.
The financial institution will have less faith in the cardholder’s ability to make timely EMIs on the loaned amount resulting in the rejection of the loan amount to be issued. The credit cardholder should pay the credit card bill timely which will help with their credit score and also win reward points for them.
