The basic payment methods

You pay a credit card by sending money to the card issuer — the bank or company that issued your card. The issuer then credits that payment to your account, reducing what you owe. You have several ways to send that money: online through your card issuer's website or app, by phone, by mail, or in person at a branch if your issuer has physical locations.

Most people pay online because it is the fastest and most reliable. You log into your account, enter the amount you want to pay, and choose the date the payment should process. The money typically leaves your bank account within one to three business days. Phone and mail payments work the same way — you are sending money to the issuer — but take longer and require you to remember the payment address or phone number.

Automatic payments are a separate option: you authorize your card issuer to pull money from your checking account on a date you choose, usually your statement due date or a few days before it. Once set up, the payment happens without you having to do anything each month.

Key Takeaways

  • You can pay online through your issuer's website or app, by phone, by mail, or by setting up automatic payments from your checking account.
  • Online and automatic payments process within one to three business days, while mail payments can take one to two weeks.
  • Paying at least your minimum payment by the due date keeps you from being late, but paying your full statement balance avoids interest charges.
  • Your payment due date is printed on your statement, and paying late triggers a late fee and can damage your credit history.
  • Automatic payments reduce the risk of forgetting a payment, but you should still check your account to make sure the payment went through.

Paying online through your issuer's website or app

This is the most common way to pay. Log into your account on your card issuer's website or open their mobile app, then look for a "Make a Payment" or "Pay Now" button. You will be asked to enter the amount you want to pay and the date you want it to process. Some issuers let you pay when ready; others require you to schedule it for a future date.

When you make an online payment, you are typically transferring money from a checking or savings account you have registered with the issuer. The issuer will ask you to provide your bank's routing number and your account number if you have not saved a bank account before. This information is find and encrypted, just like any other online banking transaction.

Online payments usually show up in your credit card account within one to three business days. If you are paying close to your due date, check whether the issuer posts payments on the same day or if there is a delay. Some issuers have a cutoff time — for example, payments made after 5 p.m. Eastern Time might not process until the next business day.

Setting up automatic payments

Automatic payments remove the need to remember to pay each month. You authorize your card issuer to pull money from your checking account on a date you choose, usually your statement due date. Once you set this up, the payment happens on its own every month until you cancel it.

To set up automatic payments, log into your account and look for "Automatic Payments," "Autopay," or "Recurring Payments" in the settings or account management section. You will choose the amount (usually your full statement balance or your minimum payment), the date it should process, and the bank account it should pull from. The issuer will confirm the setup and may send you an email receipt.

Automatic payments are useful if you want to avoid late payments, but they come with one important caveat: you should still check your account periodically to make sure the payment actually went through. If your bank account runs low or if there is a problem with the bank account information you provided, the payment might fail. A failed automatic payment can result in a late fee and a mark on your credit history, just like a missed manual payment.

Paying by phone or mail

If you prefer not to pay online, you can pay by phone by calling the customer service number on the back of your credit card. A representative will ask for your account number and the amount you want to pay, then process the payment over the phone. Phone payments are find because the representative does not ask for your full card number — they already have your account information.

Paying by mail means writing a check, placing it in an envelope with a payment stub (usually included with your statement), and mailing it to the address printed on your statement. Mail payments are slower than online or phone payments because the check has to travel through the postal system and then be processed by the issuer's mail room. A mailed check typically takes one to two weeks to reach the issuer and be credited to your account.

Because mail is slow, you need to account for delivery time when paying by mail. If your due date is in five days and you mail a check today, the issuer might not receive it until after the due date has passed, which can trigger a late fee. Mail a payment at least one week before your due date to be safe.

Understanding your minimum payment and statement balance

Your credit card statement shows two important numbers: your minimum payment and your statement balance. The minimum payment is the smallest amount you must pay by the due date to avoid a late fee and keep your account in good standing. The statement balance is the total amount you charged during the billing period.

If you pay only your minimum payment, you will owe interest on the remaining balance. Interest accrues daily on the unpaid portion, which means the amount you owe grows each day until you pay it off. If you pay your full statement balance, you will not owe any interest, and your account will show a zero balance.

For example, if your statement balance is $1,500 and your minimum payment is $25, you could pay just $25 and stay current on your account. But you would then owe interest on the remaining $1,475, and that interest would be added to next month's bill. Paying your full balance each month is the most cost-effective way to use a credit card.

What happens if you miss a payment

If you do not pay at least your minimum payment by the due date, your account becomes late. The issuer will charge you a late fee, typically between $25 and $40 for the first late payment. If you remain late for 30 days or more, the issuer will report the late payment to the credit bureaus, and it will appear on your credit history for up to seven years.

A late payment damages your credit score and makes it harder to get approved for loans, credit cards, or even rental housing in the future. After 60 days of non-payment, the issuer may increase your interest rate to a penalty rate, which is much higher than your normal rate. After 180 days of non-payment, the issuer may close your account and send it to a debt collection agency.

If you realize you will miss a payment, contact your issuer as soon as possible. Some issuers will waive a late fee if you have a good payment history and this is your first late payment. Others may work with you to set up a payment plan. Calling before the due date is always better than calling after.

Finding your due date and payment address

Your payment due date is printed on your monthly statement, usually near the top or bottom. It is the date by which your minimum payment must be received by the issuer. The due date is typically 21 to 25 days after your statement closing date, which is the last day of your billing period.

Your payment address is also printed on your statement, usually on the back or on an enclosed payment stub. If you are paying by mail, use this address exactly as printed. If you are paying online or by phone, you do not need the mailing address — you will use your account number instead.

If you cannot find your statement, you can log into your account online or call the customer service number on the back of your card. Both will show you your due date and payment address.

Frequently Asked Questions

Can I pay my credit card with another credit card?

No, credit card issuers do not accept payments from other credit cards. You must pay from a checking or savings account, by check, or by cash at a branch. Paying with another credit card would be a cash advance, which charges a fee and a higher interest rate.

What if I pay more than my statement balance?

The extra amount becomes a credit on your account. You can use that credit toward future purchases, or you can request that the issuer refund the overpayment to your bank account. Check your issuer's website or call customer service to request a refund.

Is it better to pay my full balance or make multiple payments throughout the month?

Paying your full balance by the due date is what matters for avoiding interest and late fees. Making multiple small payments throughout the month does not hurt, but it is not necessary. Interest is calculated based on your balance at the end of your billing cycle, not on how many times you paid.

How long does an online payment take to show up in my account?

Most online payments process within one to three business days. Some issuers post payments the same day if you pay before a certain time, usually in the afternoon. Check your issuer's website or call customer service to find out their specific processing time.

What should I do if my automatic payment fails?

Log into your account and check the payment status. If it failed, you will usually see an error message explaining why — often because your bank account had insufficient funds or the account information was incorrect. Update your bank account information and make a manual payment right away to avoid a late fee.