The three ways to pay your credit card bill
You can pay your credit card bill online through your card issuer's website or app, by phone using an automated system or a representative, or by mailing a check to the address on your statement. Online is fastest — the payment usually posts within one business day. Phone payments also post within one business day but may carry a small fee. Mailed checks take five to seven business days to arrive and clear, so you need to send them earlier if your due date is soon.
Most card issuers also let you set up automatic payments, where money leaves your bank account on a date you choose each month. You can usually choose to pay your full balance, a fixed dollar amount, or just the minimum. Automatic payments remove the risk of forgetting, but you need to make sure your bank account has enough money on that date — if it does not, the payment will bounce and you may face overdraft fees from your bank plus a late fee from your card issuer.
Key Takeaways
- Online and phone payments post within one business day; mailed checks take five to seven days, so mail earlier if your due date is near.
- Your due date is the last day to pay without a late fee, and it appears on your statement and in your online account.
- Paying only the minimum keeps your account current but leaves you carrying a balance that accrues interest each month.
- A missed payment stays on your credit report for seven years and can raise your interest rate even after you catch up.
- If you cannot pay by the due date, call your card issuer before the date passes to discuss hardship options or a payment plan.
Finding your due date and what it means
Your due date is printed on your monthly statement and also visible in your online account or app. It is the last day you can pay without triggering a late fee. The due date is usually 21 to 25 days after your statement closes, not after you receive the bill. If you pay after the due date, your account is considered late, and the card issuer will charge a late fee — typically $25 to $40 for a first offense, higher for repeat lates.
A payment is considered on time if it posts to your account by 11:59 p.m. on the due date, not if you send it that day. This is why mailed checks are risky: if you mail a check on the due date, it will not arrive for five to seven days, and your payment will post late. If your due date is within a week, pay online or by phone instead.
The difference between minimum payment and full balance
Your minimum payment is the smallest amount you can pay to keep your account current and avoid a late fee. It is usually 1 to 3 percent of your balance, or a fixed amount like $25, whichever is higher. Paying the minimum keeps you from being reported late to the credit bureaus, but it does not stop interest from accruing on the unpaid balance.
If you carry a balance month to month, the card issuer charges you interest on that balance. The interest rate is your annual percentage rate, or APR, which varies by card and by your creditworthiness. If your APR is 18 percent and you carry a $1,000 balance, you will owe roughly $15 in interest that month alone. Paying only the minimum means you are mostly paying interest, not principal, so your balance shrinks very slowly. Paying the full statement balance each month means you owe no interest at all.
What happens if you miss a payment
If you do not pay by the due date, your card issuer will charge a late fee and may raise your interest rate. After 30 days late, the missed payment is reported to the three credit bureaus — Equifax, Experian, and TransUnion — and appears on your credit report. This late payment damages your credit score and stays on your report for seven years, even after you pay the balance in full.
After 60 days late, the card issuer may freeze your account, meaning you cannot make new charges. After 180 days late (six months), the card issuer typically closes the account and sells the debt to a collection agency. A collection account is even more damaging to your credit score than a late payment and can make it harder to borrow money, rent an apartment, or even get hired for some jobs.
If you are struggling to pay, do not wait until you are late. Call your card issuer as soon as you know you will miss a payment. Many issuers have hardship programs that can lower your interest rate, waive fees, or set up a payment plan. These programs are not advertised, so you have to ask for them, but they exist specifically for people in temporary financial difficulty.
Paying more than the minimum to reduce interest
If you are carrying a balance, paying more than the minimum each month reduces the total interest you pay and gets you out of debt faster. The more you pay above the minimum, the faster the balance shrinks. If you can pay the full balance, that is the best option — you owe no interest at all. If you cannot, paying even $50 or $100 extra per month makes a real difference over time.
Some people use the "avalanche" method: list all their credit cards by interest rate from highest to lowest, pay the minimum on all of them, and put any extra money toward the card with the highest rate. This method saves the most interest overall. Others use the "snowball" method: pay the minimum on all cards except the one with the smallest balance, and put extra money toward that one until it is paid off, then move to the next smallest. The snowball method does not save as much interest, but the psychological win of paying off a card completely can help people stay motivated.
Setting up automatic payments safely
Automatic payments are convenient, but they only work if your bank account has enough money on the payment date. Before you set one up, make sure you understand when the payment will leave your account and that you will have funds available. If your paycheck arrives on the 15th and your automatic payment is set for the 10th, you will overdraw your account.
Most card issuers let you change your automatic payment date, so pick a date a few days after you usually get paid. You can also change the payment amount — some people set it to pay the full balance automatically, others set it to a fixed amount like $200 per month. If you set it to a fixed amount, make sure that amount is at least the minimum payment, or your account will still be late.
You can pause or cancel an automatic payment at any time through your online account or by calling the card issuer. If you cancel it, set a phone reminder for your new due date so you do not forget to pay manually.
Paying off a card you no longer use
If you have an old credit card with a balance that you no longer use for new charges, you still need to pay it. The balance will not go away on its own, and if you stop paying, it will be reported late just like an active card. You can set up an automatic payment to pay it down each month, or you can contact the card issuer and ask about a settlement or payment plan if the balance is large and you cannot afford the minimum.
Once the balance reaches zero, you can close the account if you want, but closing an old card can slightly lower your credit score because it reduces your available credit. If the card has no annual fee, you can leave it open with a zero balance — this actually helps your credit score because it shows you have credit available but are not using it.
Frequently Asked Questions
What time of day does an online payment post?
Online payments typically post within one business day, but the exact timing depends on your card issuer. Some post payments the same day if you submit before a certain time (often 5 p.m. Eastern), others post the next business day. Check your card issuer's website or call to confirm their cutoff time if your due date is tomorrow.
Can I pay my credit card bill with another credit card?
No, card issuers do not accept payments from another credit card. You can only pay with a bank account (online, phone, or automatic), a check, or cash at a physical branch if your card issuer has one. Paying with another card would just move the debt around and likely trigger a cash advance fee.
What if I pay late but then catch up?
Paying late does not erase the late fee or the damage to your credit report. The late payment stays on your report for seven years. However, paying the full balance as soon as possible stops additional late fees and prevents the account from being sent to collections. Your card issuer may also reverse a single late fee if you call and ask, especially if you have a good payment history otherwise.
Is it better to pay once a month or multiple times?
Paying multiple times per month does not lower your interest charges — interest is calculated based on your balance at the end of your statement period, not how many times you pay. However, paying multiple times can help you stay on top of spending and avoid carrying a large balance. The important thing is that your full payment posts by the due date.
What happens if I pay more than I owe?
If you pay more than your current balance, the extra money becomes a credit on your account. You can use that credit toward future purchases, or you can request that the card issuer refund it to your bank account. There is no penalty for overpaying.