Mastering Your Finances: How to Pay Your Credit Card Bills Each Month?

Don’t be a “late” bloomer – pay your credit card bills on time and “charge” into a brighter financial future.

Transitioning from a debit card to a credit card is often one of the first few indications of “adulting”. While owning a credit card is not a must for everyone, it’s an incredibly useful tool to game your finances.

But as the popular Spiderman adage goes, “with great power comes great responsibility”. It’s easy to charge all incoming transactions to your credit card blindly but when your card’s monthly bill rolls around, that’s when the panic sets in; because all of a sudden, your “invisible” expenses aren’t so invisible anymore. 

Credit card bills can easily rack up in the hundreds, or even the thousands of dollars if you weren’t prudent in tracking your spending. Of course, if you can afford it, then by all means – but for many, it’s quite the opposite as they overspend beyond their means.

We might be at the tail-end of the year already, but it’s never too late to take charge of your finances. So if you’re struggling with managing your credit card expenditure and bills, keep reading! 

Table of contents

• What is a credit card bill?
• When will you receive credit card bills?
• How to pay for credit card bills (by banks)?
• When to pay credit card bills?
• Tips to manage outstanding credit card bills
• Conclusion

What is a credit card bill?

First and foremost, we must address the fundamental question: What is a credit card bill? 

To put it simply, a credit card bill is a summary of your card’s total expenditure during a billing period. This summary comes in the form of a statement that includes how much you paid the previous month, any outstanding repayments, and the payment due date to avoid additional fees and charges. 

When will you receive credit card bills?

In general, a billing period can either be charged by calendar month or statement month. A calendar month is more straightforward – commencing from the first day (1st) of a month to the last day (30th/31st) of the same month (e.g. 1st - 31st January). 

Meanwhile, a statement month depends on your credit card’s approval date as reflected on your card’s (e-)statement. This statement month will normally appear on the top fold of your bill statement, indicating the exact date of when it commences and ends.

Here’s an example of a Citi credit card’s bill:

As you can see, the statement end date for this card ends on the 19th of every month, with a payment due date of around the 14th of every month. This suggests that the statement period for this Citi credit card ranges from the 20th of the previous month to the 19th of the current month (e.g. 20th September - 19th October).

Below is a rough overview of which credit cards follow the calendar and statement month formattings respectively.

Type of billing month
CALENDAR month	STATEMENT month
OCBC 365 Card Apply Now	All CIMB credit cards Compare CIMB Credit Cards
OCBC Frank Card Apply Now	All Citi credit cards Compare Citi Credit Cards
OCBC Titanium Rewards Card Apply Now Apply Now	UOB Visa Signature Card
DBS Live Fresh Card Apply Now	UOB One Card Apply Now
DBS Altitude Card Apply Now Apply Now	UOB EVOL Card Apply Now
DBS Woman’s Card Apply Now DBS Woman’s World Card Apply Now	Standard Chartered Journey Card Apply Now
POSB Everyday Card Apply Now	Standard Chartered Rewards+ Credit Card Apply Now
UOB Lady’s Card Apply Now UOB Lady’s Solitaire Card
UOB Preferred Platinum Visa Card
UOB PRVI Miles Card Apply Now Apply Now Apply Now
KrisFlyer UOB Card Apply Now
HSBC Advance Card Apply Now
HSBC Revolution Card Apply Now
Maybank Family & Friends Card Apply Now
Maybank Horizon Visa Signature Card Apply Now
Standard Chartered Smart Credit Card Apply Now
AMEX Singapore Airlines KrisFlyer Credit Card Apply Now AMEX Singapore Airlines KrisFlyer Ascend Credit Card Apply Now
OCBC 90°N Card Apply Now Apply Now

How do you pay credit card bills: DBS/POSB, UOB, OCBC, HSBC, Citibank, Maybank, CIMB, Standard Chartered

As far as technology goes, digital banking has streamlined credit card bill payments tremendously. More so, with the advent of ibanking apps, instances of phone or in-person banking have significantly decreased. All your bills (including utilities, education fees, etc.) can virtually (no pun intended) be settled via banking apps.

In general, your credit card bill can also be settled via other alternative banking methods:

• ATM
• InterBank GIRO
• Funds Transfer
• S.A.M. Machines
• AXS
• Paying directly in cash or cheque at your local branch
• Card payment from another bank’s website
• SMS payment (if applicable)

See also: Credit Card Annual Fee Waiver Guide By Banks – DBS, UOB, OCBC, & More

How to pay DBS/POSB credit card bills?

DBS/POSB credit card bills can be paid via the DBS digibank app. 

Step 1 Log into your DBS digibank account
Step 2 Tap either:  “Home” > “Cards” “Pay Credit Card Bill” tab (if you chose this option, skip to step 4) Select the credit card you wish to make payment for
Step 3 Upon selecting “Pay Credit Card Bill”, choose either: “Pay Outstanding” “Pay Minimum” “Pay Other Amount”
Step 4 Select “Fund Source” & enter intended “Amount” you wish to pay > Tap “Next” > Tap “Transfer Now”
Step 5 Congrats, you’ve successfully paid your credit card bill! You should see a submission page like this.

Source: All images are adapted from DBS/POSB

How to pay UOB credit card bills?

UOB credit card bills can be paid via the UOB TMRW ibanking app.

Step 1 Log into your UOB TMRW ibanking account and select “Pay/Transfer”
Step 2 Select “My UOB Accounts/Cards” > Select the credit card you want to make payment for
Step 3 Enter the “Amount” you wish to pay or choose between “Minimum Payment”/”Full Payment”   Scheduling payment is also an option
Step 4 Review details of payment amount > Tap “Confirm” to complete payment

Source: All images are adapted from UOB

Other alternative methods to pay your UOB credit card bills include:

• Internet Banking / Phone Banking
• ATM
• InterBank GIRO
• S.A.M. Machines / AXS
• Cash

More information can be found on this UOB page.

How to pay OCBC credit card bills?

OCBC credit card bills can be paid via the OCBC app.

Step 1 Log into your OCBC digital app account
Step 2 Tap on “Bill Payment” > select “Billing Organisation”
Step 3 Select “Single Bill Payment” > Select relevant billing organisation > Fill in bill reference number > Slide to submit
Step 4 Review payment details > Tap “Confirm” > Select “Add this billing organisation” to save details for future recurring payments

Source: All images are adapted from OCBC

For online banking instructions via desktop, refer to OCBC’s page for more details.

How to pay HSBC credit card bills?

Note: From 25 Nov 2023 onwards, HSBC will no longer support the setting up of future-dated and recurring bill payments via HSBC Internet Banking. Recurring bill payments will have to be arranged via GIRO with your billing organisation instead.

HSBC allows cardmembers to pay for credit card bills in a variety of ways.

Source: HSBC

But to pay for your bill via mobile banking, you need to set up your card’s bank as a “Billing Organisation” as a payee first via HSBC Online Banking. Thereafter, you can make recurring bill payments conveniently and securely through the HSBC app anytime, anywhere.

For ease of reference, we shall go through HSBC Online Banking mode of credit card bill payment as opposed to HSBC Mobile Banking here.

Step 1 Log into your HSBC Online Banking account
Step 2 Select “Move Money” from main tab > Select “Pay or transfer” option
Step 3 Select your preferred HSBC account to transfer money from > Select “New payment to a biller”
Step 4 Select correct payee biller > Tap “Continue”   Fill up required information (e.g. Reference number, amount, recurring option, date)
Step 5 Follow on-screen instructions to generate security code via the HSBC Singapore app > Complete transaction

Source: All images adapted from HSBC

How to pay Citibank credit card bills?

Citibank allows cardmembers to pay for credit card bills in a variety of ways.

Source: Citibank

Here’s how you can pay your Citi credit card bill via Citibank Online.

Step 1 Log into your Citibank Online account
Step 2 Click “Make a Payment” under your Citi credit card account summary   Follow on-screen instructions of pop-up prompt: Download & register a Citi Mobile App Account  Open app to scan / Scan QR code directly from log-in screen
Step 3 Tap “Add Payee” if you haven’t already added your billing organisation to your Citi account’s payee list   If you have already, fill up the following information: To Account From Account Amount Payment Date* Any message (if applicable) *You can also make this bill payment a recurring payment by clicking “Set Schedule” and adjusting payment frequency from there   Once done, click “Next”
Step 4 Check payment details > Click “Make this transfer” > Done!

Source: Select images adapted from Citibank

How to pay Maybank credit card bills?

As of the time of writing, Maybank credit card bills can be paid via the following methods:

• Over-the-counter cash payments at Maybank branches
• Cheque payments made to “Maybank A/C No. XXXX XXXX XXXX XXXX”
  • For more than 1 account payment, please address the cheque to “Maybank Cards” instead
• Interbank GIRO
• Maybank ATM
• Maybank Cash Deposit Machines
• Maybank Mobile Banking
• AXS Stations
• SingPost SAM

Note: Since 20 Oct 2023, payments made to Maybank and Other Banks’ credit cards have been suspended on classic Maybank Online Banking. The classic Online Banking portal is being discontinued and is being replaced by their new Maybank2u Online Banking portal instead.

How to pay CIMB credit card bills?

CIMB credit card bills can be paid via several methods:

• CIMB Clicks Internet Banking
• Auto-Debit / Interbank GIRO
• Internet banking from other banks
• AXS
• CIMB branches
• Cheques

Out of these options, the easiest payment method would probably be CIMB Clicks Internet Banking option. Simply follow the steps below:

1. Log in to your CIMB Clicks Internet Banking account via this portal
2. On the left menu: Select “Clicks Settings” > Select “Link my CIMB Credit Card” (You may skip this step if you already linked your card)
3. On the left menu: Select “Bill Payment” > Select “Pay to CIMB Credit Cards” (Choose the credit card you wish to settle payment for)
4. Key in transfer amount > Finalise transaction

Alternatively, if you wish to set up a recurring payment channel via GIRO for your CIMB credit card, please refer to the instructions here.

How to pay Standard Chartered credit card bills?

Standard Chartered (SCB) credit card bills can be paid via three methods:

• Funds transfer from SCB current or savings account either via online or mobile banking
• Funds transfer from other bank's accounts using Fast and Secure Transfers (FAST)
• Payment via SCB's Cash Deposit Machines (CDM)

To use SCB's online or mobile banking function, follow these instructions:

1. Log in to your Standard Chartered Online Banking or Mobile Banking Account
   • For online banking: Select "Transfers & Payments" > "Pay SC Credit Cards"
   • For mobile banking: Select "Pay & Transfer" > "Pay Credit Card"
2. Select the credit card you intend to make payment for 
3. Follow on-screen instructions to complete the transaction process
4. You're done!

For more details on the other credit card bill payment methods, refer to this SC page.

When to pay for your credit card bill?

When it comes to credit card bills, common sense would dictate to pay either early or on time; and it goes without saying that late payments will incur penalty fees. However, which is more ideal: Paying early or on time? 

Which is better: Paying credit card bills early vs on time?

Theoretically, there is no fundamental drawback to paying your credit card bill early; if anything, it’s a good practice to do so. This is because bank transactions – regardless of mobile or internet banking – can take up to a few days to be fully processed. 

Suppose your credit card bill’s due date is 31 October 2023, theoretically, you shouldn’t be penalised because you’re fulfilling the payment by the stipulated deadline. However, because the bank transaction might require some time to successfully go through, your credit card’s bank might only receive the payment a few days later.

As a result, your card’s bank might deem your credit card bill payment late in such situations and potentially impose late fees. To rectify this issue, you’d need to contact your card’s bank to explain and reverse any fees imposed. But, you should advisably only do so once the payment amount has successfully been transacted over from your bank account to your card’s account.

If you abide by these steps, your credit card bill should be properly paid for and any imposed late fees should be reversed or nullified.

The only downside to paying your credit card bill too prematurely might be a lack of funds in your bank account to fully pay the amount. But that’s just a minor downside. 

What happens if you pay your credit card bill late?

Even if you have just enough to pay the minimum amount, we only recommend it as a last-ditch effort in the scenario that you’re truly unable to pay the full amount by the due date. That’s better than paying your credit card bill late.

Most credit cards have a minimum repayment of at least S$50 or 3% of the outstanding balance, whichever is higher. Failure to account for this minimum payment will cost you additional late fees of up to S$100 per month.

Worse still, you’ll start incurring and accumulating interest on the outstanding amount until it’s been fully paid off – which can rack up serious debt if not cleared as soon as possible. 

In the long run, this will negatively impact your credit score too.

Read more:
Will a Debt Consolidation Plan Affect My Credit Score?
Two Strategies to Consider When Clearing Debt in Singapore
Not Ju$t You: Swimming in Debt in Singapore

What to do if you owe an outstanding credit card balance?

This brings us to our next question: What if you paid your credit card’s minimum amount already? What’s the next best course of action to take?

Once you’ve paid the minimum balance, you should formulate a plan to clear off the outstanding owed amount as soon as possible. Unless you can somehow spontaneously manifest money out of thin air, you’re better off opening a balance transfer account.

What is a balance transfer?  

In short, a balance transfer is an account that lets you move your debt from one account to this new one with low or 0% interest rate. While the owed principal debt amount remains the same, you’re at least able to stave off any interest from incurring – allowing you to both pay off your debt faster and manage your credit score.

For instance, imagine you owe S$1,500 on your credit card bill and require at least one month to fully pay off the remainder (not counting interest). By transferring your outstanding debt into a balance transfer amount, you’re now granted an interest-free grace period of about six to 12 months. This allows you to consistently pay off your debt without incurring additional interest.

Needless to say, you should avoid making any new purchases with your credit card (or other credit cards for that matter). 

Read more:
How Do Balance Transfers Work and Should You Get One?
Unpaid Credit Card Bills? Here's How a Balance Transfer Can Help

💡 Pro-tip #1: If you’re already struggling with credit card bills, do not attempt to apply for a new credit card or use another existing credit card to pay off your outstanding debt. That would just be an unwise and irresponsible decision at that point.

💡 Pro-tip #2: Alternatively, you can consider opting for a personal instalment loan to pay off your credit card debt. These loans tend to charge a lower interest rate of about 6% p.a. But we recommend looking out for those with promotional offers of 0% p.a. interest on the first three months, for example.

Read more:
Standard Chartered CashOne Personal Loan Review
Citibank Quick Cash Loan Review
Best DBS Personal Loan Promotions in Singapore
Best Short-Term Personal Loans in Singapore

Conclusion

At the end of the day, the biggest takeaways for managing your credit card bills are: to pay your bills early (the earlier the better) or on time, and pay the minimum amount at least if you’re unable to afford the full amount by the due date. 

Remember, responsible credit card management not only helps you avoid late fees and high-interest charges but also paves the way for better financial stability and a stronger credit score, opening doors for more financial freedom and opportunities in the future. 🙂

💡 Pro-tip: We recommend tracking your credit card bills on your calendar – whether physical or digital, we leave it up to your preference. Personally, I prefer using the Google Calendar because it’s already synced up to all my Google accounts (personal, work) and other important existing data. 

Besides that, it can also be added to your phone’s and desktop’s homepage as a widget for easy and convenient reference. Thank you technology!

Read these next:
4 Ways to Pay Off Credit Card Debt in Singapore
10 Commandments of Credit Cards You Should Follow
Should I Use My Credit Card to Pay For Everything?
Citi PayAll vs SC EasyBill vs CardUp: Bill and Tax Payment
Unpaid Credit Card Bills? Here's How a Balance Transfer Can Help