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Misconceptions Of Credit Cards Essay

996 Words4 Pages

There is a common misconception that credit cards use leads to indebtedness. This is true only if the cards are used unwisely but if used smartly, these cards can prove highly beneficial to manage one’s finances. Moreover, they offer a range of benefits in the form of rewards and special offers.

Still, people need to keep in mind that credit cards are a form of credit and they should pay the balance due on time to avoid high interest and penalties.

SBI Credit Card Bill Payment
State Bank of India is one of the largest banks in India with the most number of customers. It offers a wide range of credit cards and also a number of SBI credit card bill payment options. Customers can choose to pay through online or offline methods as per their …show more content…

The service can be used through the net banking facility provided by your bank. This is a fast and secure way of paying your credit card bills. You just have to log in to your net banking page and choose the option of ‘Third Party Funds Transfer.’ After selecting the VISA Credit Card Pay, you have to fill in the sender and receiver details to initiate the fund transfer.

• SBI Mobile Banking: This is a revolutionary way of making SBI credit card bill payments. These days everyone has a mobile phone and they can use it to make a fast and efficient payment for their SBI credit card bills. To do that, a user has to send an SMS containing the text ‘MBSREG’ to the number: 922 344 000 to receive user ID and default MPIN. The user can then install the SBI Freedom app on their mobile phone and pay the bill using their SBI debit card or another bank’s debit card.

• Electronic Bill Payment: Electronic Bill Payment or EBP can be used for paying credit card bills directly from your bank account. The service can be availed through net banking, ATM, or the mobile app of SBI, Indian Overseas Bank, Citibank, and Bank of India. This service offers you multiple channels to pay your SBI credit card

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