Yes! Virtually every credit card company offers online access to account information. Once a cardholder has activated and registered their card online, they may obtain up-to-the-minute information on their credit card balance as well as other information about his credit card account.
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Once you have established your credit card account online, you also have access to a lot of information in addition to your outstanding balance including:
- Current payment date and amount due
- Recent transactions, (since the last monthly statement was compiled) which include both posted (already completed) and pending transactions
- Date and amount of last payment
- The total amount of your credit line, including the amount available as a cash advance
- The amount of credit currently available, which is computed by subtracting your current outstanding balance from your total credit line
Cardholders also have access to a number of recent monthly statements, which depending on the credit card company; can go back in time from several months to several years.
Can I pay my credit card bill online?
Of course! Credit card companies generally accept electronic checks online at no additional charge. Payments are usually posted to the account and credited on the same day. This allows cardholders more flexibility and insures their monthly credit card payments will be on time, even if the due date falls on the weekend or a holiday.
It’s important to note that while a payment may be credited, the card balance and available credit amount may not change for several business days, until the electronic check clears the cardholder’s account.
Is my online credit card account secure?
Yes, as secure as just about any online bank account can be. Banks and other credit card providers have gone to great lengths in recent years to provide cardholders secure account access while discouraging hackers.
While we read about the few companies whose records have been broken into, the vast majority of financial institutions have been successful in securing their sites and preventing credit card identity theft.
Are there other ways to check my credit card balance?
Certainly! Using a toll free customer service telephone number is also a quick and easy way to find out your credit card balance. This phone number is usually printed right on the back of your credit card or can be found on your monthly paper statement.
Balance information is often provided automatically once you key in your 16-digit account number and verify the account with a password or pin number. In many cases, you can skip this step if you call from your home phone or another number listed on your original credit card application.
Many banks and credit card issuers have installed sophisticated customer service programs that automatically provide their customers with basic card data including the following four items:
- Outstanding balance
- Amount of credit line remaining
- Amount and date of last payment made
- Amount and date of next payment due
For problems or other questions regarding your account, speaking with a live representative is always an option, once you’ve exhausted the automatic prompts.
Are monthly paper statements still available?
Most all card issuers will send out traditional monthly paper statements when a credit card account is opened. Once the cardholder opens the account online, he is given the option to discontinue paper statements. According to Viewpoint.com nearly 85% of cardholders continue to receive bills in the mail.
According to AmericanBanker.com some banks such as the Bank of America have begun to charge a fee for sending paper statements. Eliminating paper statements is a win/win situation for banks and consumers. Banks save time and money as well as help the environment. Consumers have faster and more convenient account access 24/7 and no longer have to wait for their monthly bills, or deal with stacks of envelopes on their desks. It is important however to remember to always check your monthly statement.
What other services are available online?
Banks who issue credit cards are especially eager to offer additional services to their credit card customers. The most lucrative services for these banking concerns would be checking or savings accounts.
Once a regular online checking account is opened, the bank can offer specialty services such as bill pay, an arrangement where the bank automatically pays monthly bills as indicated by the account holder.
Cardholders may also request credit line increases on line, apply for credit insurance, collect and use bonus points or other card premiums and manage their credit, debit, installment loan or other accounts.
What are the other advantages of online credit card accounts?
Some cards such as PayPal will send out a text or e-mail message after every transaction if requested. Other cards like those from Chase Bank will send alerts to your phone when your credit balance is low or after a payment is received.
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