How Paying Credit Card Bills in Cash Affect Credit Score

India has seen a remarkable surge in the usage of credit cards. Easier availability of such cards, relaxed eligibility criteria and a larger clientele thanks to a growing middle-class population are among the leading reasons behind the increasing number of new credit card users in the Indian market.

Also, the payment aspect has become easy with several payment options to choose from including NEFT, NACH facility, net banking/online payments, mobile wallets, and also the traditional cash payment method. One has to incur a charge of Rs. 118 when he or she chooses to pay credit bills in cash, which includes a GST of 18%.

All card issuers offer the facility of paying credit card bills with liquid cash. You have to go to any branch of the bank which issued you the credit card.

There you have to fill out a form, enter your credit card details and pay the amount in the relevant counter. You can also have the pick-up facility availed.

Credit score majorly depends on expense pattern and repayment history. The expense pattern is how much you spend and how you spend your credit limit. Repayment history means how promptly you repay your loans and credit bills.

Refer to leading credit cards such as the RBL Bank Credit Card which acts as an EMI card, credit card, loan card, and cash withdrawal card, all in one. You can avail an emergency personal loan against the card and repay in as 3 EMIs with a flat 2.5% processing fee and at no interest. It also offers interest-free cash withdrawal for up to 50 days against minimal processing fees.

There are other convenient credit card bill payment methods as well. You can issue cheques in favor of the credit card company to pay. You can pay via net banking through your savings account.

You can pay through mobile wallets without registering your credit card and the MyCard app of Bajaj Finserv if you have an RBL Bank Credit Card.