What Is Statement Balance In Hdfc Credit Card?

0 Comments

Do I need to pay statement balance or current balance?

In order to have your account reported as current to the credit bureaus (Experian, Equifax and TransUnion) and avoid late fees, you’ll need to make at least the minimum payment on your account. But in order to avoid interest charges, you’ll need to pay your statement balance in full.

What is the statement balance on a credit card?

Your statement balance shows what you owed on your credit card at the end of your last billing cycle, whereas your current balance reflects how much you actually owe in total at any given moment.

What is statement amount in HDFC credit card?

1. For easy understanding of your monthly transactions, we have segregated them into International and Domestic. However, the total amount indicated on your statement refers to the sum total of your Domestic and International transactions.

You might be interested:  Question: How To Deactivate Hdfc Credit Card Smart Pay?

How do I read my HDFC credit card statement?

How to Get HDFC Credit Card Statement through Net Banking

  1. Once registered, click on the “ Cards ” tab and select “View Statement ” from the “Enquire” section.
  2. Select the HDFC credit card for which you want to view the statement, enter the statement period and click on the “View” button.

Do credit cards report statement balance or current balance?

Both your current balance and your statement balance affect your credit score. Each month, typically at the end of the billing cycle, credit card companies report your credit card usage to the three major credit bureaus—Experian, TransUnion and Equifax.

What is the difference between outstanding balance and statement balance?

Statement balance: The amount you owed on the day the statement was prepared. It includes any finance charges and late fees. Outstanding Balance: The amount you owe the Bank on purchases made with your credit card.

What happens if I only pay statement balance?

If you pay just your statement balance, you will end up having to pay interest on that cash advance. Any minimum payment you make is applied toward the balance with the lowest APR first. Cash advances typically have a higher interest rate, so you would not make any dent in that balance.

Should I pay my credit card before the statement?

At a minimum, you should pay your credit card bill before its statement due date. Paying a credit card after this due date can result in hefty late fees and, depending on the credit card, an increased interest rate. Paying your credit card late can have a negative effect on your credit score, too.

You might be interested:  How To Change Hdfc Credit Card Phone Number?

Why is my statement balance so high?

Your current balance could be higher or lower than the statement balance, depending on the type of transactions you’ve made. You’ve probably made new purchases, and that increases your current balance. Or maybe you made an extra payment on your account, and it was posted after the closing date.

What happens if I overpay my credit card balance HDFC?

When you overpay your credit card bill, it remains in your credit card account which can be used for future purchases. However, if you want to claim a refund, you will have request it in form of writing or contact the customer care over phone for refunding.

What happens if we dont pay HDFC credit card bill?

If you fail to pay even the minimum amount due on your HDFC credit card, you will be charged a late payment fee that would be added to your next statement. The bank may also inform CIBIL about the non- payment of your credit card debt and hence your CIBIL score would drop.

What is overlimit fee in HDFC credit card?

HDFC Bank Credit Card Over Limit Charges Over limit charges are applicable on the total outstanding amount exceeding the Credit Limit at the rate of 2.5% of the over limit amount subject to a minimum of Rs 500.

Is there any HDFC credit card app?

Check HDFC Credit Card Balance Through HDFC Mobile App The app is available on various platforms including iOS, Android and Windows. If you have registered your credit card with HDFC net banking, you can download the app and use it to check your credit card balance.

You might be interested:  Often asked: How To Activate Axis Bank Credit Card For First Time?

What happens if I pay my credit card bill after the due date?

You will have to pay a late fee if you pay your bill after the due date. The late fee would be charged by the bank in your next credit card bill. In a recent move, the Reserve Bank of India (RBI) has directed banks to charge late fee only if the payment has been due for more than three days after the due date.

How do I know my credit card billing cycle?

You can find your credit card billing cycle listed on your monthly statement. You’ll notice the start and end dates for your billing period are typically located on the first page of your statement, near the balance. Your card issuer may list the number of days in your billing cycle, or you’ll have to do some counting.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post