The Basic Steps to Pay Your Card
You can pay your credit card bill through your card issuer's website, mobile app, by phone, or by mail. Most issuers let you set up automatic payments so the bill is paid on a schedule you choose — either the full balance, the minimum payment, or a fixed dollar amount. The payment posts to your account within one to three business days, depending on the method you use.
The key is knowing your due date, which appears on your statement and is usually 21 to 25 days after your statement closes. Paying by the due date keeps you from incurring a late fee and protects your credit score. If you miss the due date, the issuer reports the late payment to credit bureaus after 30 days of non-payment.
Key Takeaways
- You can pay online, by app, by phone, or by mail; online and app payments typically post within one to three business days.
- Your due date is printed on your statement and is usually 21 to 25 days after your statement closes; paying by this date avoids late fees and credit damage.
- Automatic payments can be set to pay your full balance, minimum payment, or a fixed amount on a date you choose.
- Paying more than the minimum reduces the interest you owe, because interest accrues daily on your remaining balance.
- A late payment is reported to credit bureaus 30 days after your due date passes, so paying within that window prevents credit score damage.
Online and Mobile App Payments
Most card issuers offer a website and mobile app where you can log in and pay immediately. You choose the amount, the date the payment should post, and the account it should come from (checking, savings, or another bank). The issuer processes the payment and it typically appears on your account within one business day for payments made before the cutoff time, which is usually 5 p.m. Eastern time.
If you pay after the cutoff or on a weekend, the payment may not post until the next business day. Some issuers let you schedule a payment for a future date, which is useful if you want to pay on payday but your due date is sooner. Check your issuer's website for the exact cutoff times and processing schedules, as these vary.
Automatic Payments and Recurring Billing
Setting up automatic payments removes the risk of forgetting your due date. You log into your account, select the payment method (usually a checking account), choose the amount, and pick the day of the month the payment should go out. Most issuers offer three options: pay the full statement balance, pay the minimum payment, or pay a fixed dollar amount you set.
If you choose to pay the full balance automatically, the payment is calculated after your statement closes, so the amount may vary month to month. If you choose a fixed amount, make sure it is at least the minimum payment shown on your statement, or you will still incur a late fee. You can change or cancel automatic payments at any time through your account settings.
Phone and Mail Payments
You can call the customer service number on the back of your card to make a payment by phone. A representative will ask for the amount, the account you want to pay from, and the date you want the payment to post. Phone payments typically post within one to three business days. Some issuers charge a fee for phone payments, so ask before you confirm.
Mailing a check or money order is slower but still an option. Write your account number on the check, include a payment coupon from your statement if one is provided, and mail it to the address listed on your statement. Mail payments take five to seven business days to arrive and post, so send your payment at least a week before your due date to avoid a late fee. Keep a record of the check number and the date you mailed it in case there is a dispute.
How Payment Amounts Affect Your Interest and Balance
Your minimum payment is the smallest amount your issuer requires you to pay to keep your account in good standing. It is usually 1 to 3 percent of your total balance plus any fees and interest charges. Paying only the minimum means the rest of your balance carries over to the next month and accrues interest.
Interest accrues daily on your remaining balance at your card's annual percentage rate (APR) divided by 365. If your APR is 18 percent and your balance is $1,000, you accrue roughly $0.49 per day in interest. Paying more than the minimum reduces the balance faster and means less interest accrues over time. Paying the full statement balance by the due date means no interest accrues at all, assuming you do not carry a balance from a previous month.
If you carry a balance, the issuer applies your payment first to fees and interest, then to the principal balance. This means paying only the minimum can take years to pay off the balance, even if you stop using the card.
What Happens If You Miss Your Due Date
If your payment does not post by your due date, the issuer charges a late fee, usually $25 to $40 for the first late payment and up to $40 for subsequent ones within six months. Your interest rate may also increase to a penalty APR, which is typically 25 to 29 percent, though it applies only to new purchases and balances, not to existing balances in most cases.
After 30 days past your due date, the issuer reports the late payment to the three credit bureaus — Equifax, Experian, and TransUnion. This appears on your credit report as a 30-day late payment and damages your credit score. The damage is most severe in the first few months and gradually lessens over time, but the late payment remains on your report for seven years.
If you miss a payment, contact your issuer as soon as you realize it. Some issuers waive the late fee if you call before the 30-day mark and have a clean payment history. Paying the full past-due amount immediately stops additional late fees from accruing, though the damage to your credit score from the initial late report cannot be undone.
Payment Methods and Processing Times
| Payment Method | Processing Time | When to Use It |
|---|---|---|
| Online or app | 1 business day (same day if before cutoff) | For most payments; fastest and most convenient |
| Phone | 1 to 3 business days | If you prefer speaking to a representative or do not have online access |
| Automatic payment | Posts on the date you set | To avoid missing due dates; set it and forget it |
| Mail (check or money order) | 5 to 7 business days | Only if other methods are unavailable; send at least a week early |
Frequently Asked Questions
Can I pay my credit card bill with another credit card?
Most issuers do not allow you to pay your bill with another credit card directly. However, you can use a balance transfer or cash advance from another card, though both carry fees and interest. The simplest approach is to pay from a checking or savings account, which has no fee and posts faster.
What if I pay more than I owe?
If you overpay, the excess becomes a credit balance on your account. You can use this credit toward future purchases, or you can request a refund by calling customer service. The issuer will mail you a check, which takes one to two weeks.
Does paying early help my credit score?
Paying before your due date does not boost your score, but it does prevent late fees and interest. Your credit score is based on payment history, credit utilization, length of credit history, and other factors — paying on time is what matters, not paying early.
What if my payment was rejected?
A payment can be rejected if your bank account has insufficient funds, the account number is wrong, or the account is closed. If this happens, your issuer usually notifies you by email or phone. Contact your issuer immediately to resubmit the payment and ask if the late fee can be waived, since the rejection was not your fault.
Can I set up automatic payments for a specific dollar amount?
Yes. Most issuers let you choose a fixed amount, the minimum payment, or the full balance. If you choose a fixed amount, make sure it covers at least the minimum payment shown on your statement, or you will incur a late fee even though the automatic payment went through.