There is always that responsibility to pay your credit card bill on time. If you fail to pay the bill, the bank can charge a penalty fee and decrease your credit score. And you should avoid these two things at any cost. To avoid any payment failure, you can choose credit card auto debit method and be fully safe. So, what is auto debit in credit card? I will explain the meaning in brief.
Pay your utility bills without any hassle and get instant rewards and cashbacksat NoBroker! Pay your rent at NoBroker and get assured cashbacks and rewards every month! Get a home loan at the lowest interest rate from NoBroker and purchase your dream house!What is auto debit facility in credit card?
An auto-debit is a method where a certain amount of money is transferred on a specific date to remit recurring payments such as home mortgage EMIs, property loans, vehicle loans, utility bills, credit card bills, etc. If you enrol yourself for the auto-debit facility, you will receive many benefits.
Benefits of auto debit credit card:Assurance to pay the bills timely without any failure.
You can avoid unnecessary late payment fees and charges.
It is a convenient option to pay your credit card bill.
The risk of identity theft is very less.
You can create a good credit history by paying the bills on time and earn reward points.
There are two types of payment methods available: 1) total amount due (TAD) and 2) minimum due amount (MDA).
This is all I have to say about the credit card auto debit payment method. I hope I was able to clear the doubt.
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Authors Of The Question
What is auto debit in credit card ?
Amish
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1 Answers
2 Year
2022-09-06T11:25:43+00:00 2022-09-06T11:25:46+00:00Comment
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