Previously, paying your electricity bill meant waiting a day in a long queue outside the regional electricity board's bill payment office.
Thankfully, with the advent of credit cards, you can conveniently pay your bill from the comfort of your home! Not just that, you can also enjoy rewards and cashbacks on this monthly expense.
In this blog, we cover how to pay your electricity bill through credit cards and what are its many benefits.
To pay your electric bill with a credit card, follow these steps:
Now that you know how to pay your electricity bill through a credit card, it's time to see why doing so is prudent:
You can pay your electric bill with a credit card anytime, anywhere. This saves you the time and effort of visiting your provider's bill payment office.
Paying your electric bill with a credit card can earn you credit card rewards, cashbacks, and vouchers. In fact, top utility credit cards offer up to 5% cashbacks on such payments.
After enabling credit card payments for your electricity bill, you can establish a recurring instruction with the provider. This avoids concerns about deadlines, fees, and service interruptions through automated debits.
Paying your electricity bill with a credit card helps you track your expenses. You can check your monthly credit card statement to review your monthly expenses on electricity and better manage your budget.
Paying your utility bills with a credit card and clearing outstanding dues on time helps boost your credit score. A good credit score speaks to your credit-worthiness, boosting your eligibility for other credit products like home loans and personal loans.
While you can pay your electric bill with a credit card, you should be careful about the following drawbacks:
Paying electricity bills using a credit card can involve a nominal convenience fee or handling charge. This can vary from 0.25%-2% depending on the lender's policies.
Credit card reward rates vary from one lender to the next. Moreover, lenders often put minimum transaction limits or maximum benefits caps on rewards and cashbacks.
Putting your electricity bill on a credit card only makes sense if you pay the outstanding dues monthly. Failing to do so attracts high interest charges on the same.
Paying your electricity bills with a credit card lets you enjoy convenience with other benefits, provided you don't mind the extra fees. While the pros outweigh the cons, you can still opt for other online payment methods to bypass the extra charges without compromising on convenience. However, doing so will mean missing out on lucrative rewards and cashbacks.
Want a credit that makes bill payments super-convenient while bringing you best-in-class rewards? Try the Fi-Federal Credit Card. This might just be what you need. With this card, you're assured of a 2% valueback through rewards. But that's not all, as you'll also get 5x on your top 3 brands, 2x on all partner brands, and 1x on everything else, including rent and fuel. But that's not all, as you'll also get 5x on your top 3 brands, 2x on all partner brands, and 1x on everything else, including rent and fuel. What's unique about Fi Money is that you earn points in the form of Fi-Coins, our very own reward system. For travellers, the perks are even better as you can convert your Fi-Coins to airline miles or cashback.
Yes. You can use your credit card to pay monthly utility bills, including electricity bills.
Credit cards make bill payments convenient, offer exciting rewards and cashbacks, help you track your expenses, and build a credit score.
Yes. Most leading electricity, gas, mobile, cable, internet, and telephone companies allow utility bill payments with credit cards.
You can contact your electricity provider or check their website to confirm if they accept credit card payments.
Log into your netbanking account, go to the 'Utility Bill Payment' tab, and select 'Electricity' from the list of utility services. Next, select your provider from a drop-down list and enter your customer ID, billing details, and the bill amount. Select your credit card as the preferred payment method and confirm to pay.
