A credit card can be incredibly useful, whether you’re traveling and need to pay for things or just paying down your monthly balance to ensure you’re getting the best possible rate. However, suppose you ignore your credit card balance and spending habits. In that case, it can easily spiral out of control. Irresponsible habits will lead to missed payments, overspending, and sky-high interest rates on your purchases. So make sure you don’t let this happen to you by checking your credit card balance regularly in one of these convenient ways.
Go to your credit card company’s website, and log in using your card number and password. You can then see your account balance on the site. Alternatively, you can call your credit card company. Then, they will ask for the last four digits of your credit card number before they can tell you your balance. SoFi states, “It’s generally advised to keep your credit utilization ratio under 30% — but the lower, the better.”
Three Step Guide:
Step 1: Visit your bank’s website or mobile app and log in.
Step 2: Click on Credit Cards (or anything similar).
Step 3: Click on View Recent Transactions, Balances, & Charges, where you will see a list of all transactions from the past 30 days.
Knowing your balance before making a purchase will help you avoid overspending. Avoid paying interest on purchases when there’s no reason to do so. Set budgets, and stay on top of all of your spending habits.
How Checking Your Credit Card Balance Works
Keeping track of your balances can be difficult when you have more than one credit card. Fortunately, most credit cards offer an online service that displays all your card balances in one place. You may also want to sign up for alerts from your bank or credit card company to know when your balance reaches certain levels. Alerts are often useful for detecting fraud or unauthorized charges on your account as well.
Other Benefits to Knowing Your Balance Before Making a Purchase
A good credit score is essential for a variety of reasons. First, it can help you get approved for loans, lower your interest rates, and make it easier to rent an apartment or buy a house. Plus, a high credit score can give you peace of mind knowing that you’re in good financial shape.
Things to Look Out For When Checking your Balance
Have you been making your minimum payments? What are your card’s interest rates? Have you reached the credit limit? Is there anything on your account that will prevent you from paying off your balance in full today?
You can also learn more about these points by checking out our guide, which provides more detail on checking and monitoring your credit card balance.
To prevent fraudulent charges from going unnoticed, you must check your credit card balance at least once daily. If you do not know how to check your balance, plenty of sites can help you. SoFi is one of the top websites that can lead you to a smooth banking experience.
Alison Lurie is a farmer of words in the field of creativity. She is an experienced independent content writer with a demonstrated history of working in the writing and editing industry. She is a multi-niche content chef who loves cooking new things.