What is a Credit Card Balance? Definition, Benefits and More

Tracking your credit card balance is crucial when you own and use a credit card. Your balance indicates the amount you owe your bank or credit card issuer. So, if you use your card for frequent purchases, you must know that regular balance tracking is the key to financial planning. 

Knowing your credit card balance makes budgeting easier. Furthermore, you can calculate how much interest banks will charge in the next cycle. You can visit the bank’s website or contact your credit card issuer for a quick credit card details check. 

Read on to understand the credit balance meaning, why it is important, how to check credit card balance and more.

What is a Credit Card Balance?

Your card balance is the outstanding amount on a credit card, which is due every month. As you swipe your credit card, your outstanding balance increases. This decreases when you pay your credit card bill. 

This differs from your card limit, which is the set purchase limit on your card. So, your credit card limit is the maximum amount you can spend with your credit card. On the other hand, your card balance is the amount you must pay to the credit card issuer after using the card. 

Why Should You Check Your Credit Card Balance?

Here are some reasons why it is essential to check your card balance:

• To Know Your Outstanding Amount

A periodic credit card details check shows how much you owe your credit card company. This allows you to plan your finances and budget better, and you can pay your dues faster. 

• To Check for Fraudulent Activities

If your credit card balance increases when you have not used your card, this could be due to a fraudulent activity. You can report such an incident to your bank and block your card. 

• To Monitor Your Available Balance

A credit card limit check allows you to know your spending limit. Keeping an eye on your balance saves your payments from being rejected due to low or insufficient balance. 

Also Read: Benefits of Using Credit Cards

How to Check Credit Card Limit and Balance?

Follow these options to check your card balance and limit:

• Monthly Credit Card Statement

Banks and credit card providers generate your credit card bill at the end of every billing cycle. Some financial institutions deliver your credit card to your address, while others may send it through email. With this bill or your monthly statement, you can check your outstanding balance, credit card limit and other details of your card. 

• Net Banking

Through net banking, you can initiate a quick credit card limit check by logging into your bank’s net banking portal. Simply log in with your credentials and check your balance, which is usually mentioned on the dashboard. 

• Mobile Banking

Mobile banking is another popular method to execute easy and fast credit card details checks. Download your bank’s mobile banking and log in with your customer ID and password. If you have not registered for a mobile banking facility, you can contact your bank and register. Once registration is complete, you can check your balance, credit card limits, due date, etc., anytime from your mobile. 

• Nearest ATM

If you are unable to access your net banking or mobile app, visit the nearest ATM and check your balance. At your bank ATM, enter your credit card into the machine, provide your card pin and select the balance option. In a few seconds, the ATM machine will generate your bank statement receipt.

• Customer Care

Most credit card providers have 24X7 customer care service available. You can call customer care and enquire about your card balance and outstanding limit.

• Visiting Your Bank

You can also go to your bank branch and ask the banking executive to provide details of your credit card.

Armed with this knowledge, you can avoid falling into a debt trap and secure your finances. Credit cards are a great option to get finance for urgent requirements. To get quick and hassle-free access to funds, get the Fibe Axis Bank Credit Card. 

Apart from benefits like cashback and discounts, it also allows you to convert your purchases into convenient EMIs. Also, you can link it with your UPI and make various types of transactions in seconds. To apply for it and get instant approval, download the Fibe App now. 

FAQs on Credit Card Balance Check

What is the outstanding balance on the credit card?

Outstanding balance, also known as your credit card due amount or balance, is the net payable amount on your credit card bill. This is the money that you need to pay to the credit card issuer.

What is a credit balance?

Every time you use your credit card, the amount is added to the balance of your credit card. In simple words, this is the amount you have utilised from your credit card limit. Initiating a credit card details check helps you monitor it with ease.