Balancing Act: Tips for Maintaining a Healthy Credit Card Balance

Knowing how to check credit card balance and maintain a healthy balance is important. Doing this will help you have good financial health, which is a reflection of your creditworthiness.  


Your credit score directly impacts your access to credit, and financial institutions offer better credit to individuals with a healthy profile. So, as a credit card user, you need to start by keeping an eye on the amount you have utilised.


Following good financial practices is an easy way to maintain a healthy balance. Below are some simple habits that can help you keep your debt in check and protect your financial well-being.


Utilise Limit Smartly

Your spending power increases with the usage of credit cards. It is essential to keep a check on the urge to use a credit card every time, to the point that you are exhausting your credit limit. 


Overuse will lead to a high balance and utilisation ratio, negatively impacting your creditworthiness and financial well-being. You must maintain a credit utilisation ratio below 30% of the available credit limit. This means that if you have a limit of ₹90,000, spend ₹30,000 or less in every billing cycle.  


Doing this will help ensure that your credit balance is manageable, helping you be more financially secure. Set balance alerts or regularly track your balance to avoid going beyond your budget. 


Pay Bills on Time

The habit of skipping credit card bills or making delayed payments directly impacts your balance. The issuer will levy late penalty charges and interest on the outstanding balance, which will further increase what you owe. 


Ensure to make regular payments without fail, which will also help you build a healthy credit history. If your finances allow it, you can even consider paying before the bill is generated, as it will help you maintain a good balance. 


If you cannot pay off the balance on or before time, you have the option to pay the minimum due and avoid late penalties. But ensure you don’t make the habit of paying only the minimum amount, as the issuer will charge interest on the balance. Since the interest is compounding, it can quickly lead to a high debt.


Time Your Credit Card Use

The balance reflected on your credit card statement is based on the billing cycle, which doesn’t always start on the 1st of every month. The issuer will consider only those transactions that are executed within this period. 


For instance, say the issuer generates your bill on the 7th of every month. This means that the transactions from the 8th will be entered in the next billing cycle. Now, if you want to keep a low balance, you can avoid making purchases near the end of the cycle. 


This will help you move them to the next month and avoid seeing a high balance in the current statement. It also gives you more time to arrange the funds and ensure that you pay the bill on time.


Track Your Expenses and Create a Budget

This is a tried and tested method of maintaining good financial health. If you find yourself spending more every month, monitor your card use for a few months. Doing this will help you understand if you are making any unnecessary expenses and cut back on them.


Once done, create a budget for your credit payments. Analysing your spending pattern before this is crucial, as it will help you create a realistic budget that is easier to stick to. You can set limit alerts or frequently check your balance to ensure you follow the plan.


Steps to Check Credit Card Balance

Knowing how to check credit card balance is as important as knowing how to maintain the balance. It helps you stay on top of your balance and stop yourself from overspending. To do this, follow these steps:


  • Step 1: Log in to your account via the issuer’s app or website

  • Step 2: Go to the dashboard and navigate to the ‘Statement’ section

  • Step 3: Check your balance and recent transactions


Other ways to check your credit card balance are:

  • Review your credit card statement

  • Visit the issuer’s branch

  • Contact the customer support team


By maintaining a manageable balance on your credit card, you can pay it off easily and build a rock-solid foundation for your future credit. You also need to have a card that makes managing your debt easier and simpler. This is where the One Credit Card comes into play with its powerful mobile app.


You can check your credit card limit on the One Credit Card App in just a few clicks! Moreover, you can easily track your purchases and even set limits on transactions of different types. All this helps you monitor your purchases and maintain a good balance. 


Paying your bills with points is also easy on the app. You can also earn 5X reward points on your top two spending categories every month. Moreover, you get to enjoy a variety of offers on most transactions, from electronics to groceries. Apply online now to enjoy all these benefits and be more confident in your credit journey!