Like debit cards, credit cards are used to make purchases and payments. However, the difference between a credit and a debit card is the source of the funds. Funds associated with a credit card are usually borrowed from the issuing bank or Credit Card Company. These banks or credit card companies can block your card for several reasons, one of which may require you to pay the bill for the blocked credit card. If you are hearing this for the first time, or maybe you are a victim, you may want to know how to go about the payment.
You can pay the bill for a blocked credit card by visiting a branch of your bank and pay in cash, or you can transfer the money online to the card account.
A bank or credit card issuer can block your card anytime, for the right reasons, of course. These blocks can be because of suspicious fraudulent activities and failure to make payment on time. Your bank or credit card issuer is charged with protecting you and your funds, so be rest assured that they wouldn’t block your card for flimsy reasons. If your credit card is blocked because of late payment, you’ll have to pay the bill for the blocked credit card for it to be unblocked. I have outlined how to go about the payment in this article.
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How To Pay Blocked Credit Card Bill?
A credit card block can mean two things. Firstly, it can mean a temporary freeze on your card, which stops you from using it. Or a part of your credit limit is suspended. Both situations can be annoying but are easier to fix if you understand how they work.
Some of us have at one time had our credit card blocked for one reason or the other. These blocks, which are usually impromptu, are done for a few reasons, some of which we may find cool, while others may find annoying.
When your card is blocked, you won’t be able to make transactions with it. This means that you won’t be able to pay for goods at the mall, grocery store, etc. And since your bank may decide not to alert you before blocking the card, you could easily find yourself in one of those embarrassing situations where you visit the mall to buy some stuff only to find out that your card is being declined for reasons you aren’t aware of.
Major Reason Why Banks and Credit Card Issuers Block Your Credit Card:
Banks and credit card issuers are charged with protecting their customers and their funds. Besides, these financial institutions will also protect themselves by eliminating any potential liability. Like I said earlier, a bank or credit card issuer can block your card for a few reasons. If your bank suspects fraudulent activity on your card, it won’t hesitate to block it until you visit the bank to clarify the issue. For instance, if the bank noticed that you suddenly withdrew a huge sum of money (one you haven’t withdrawn before), it may be forced to block your card temporarily. Or the bank could block your card if you made transactions from several locations in a short period. As I said, the bank’s duty is to protect you and your funds, so they will surely do all they can to uphold that, and one of which is blocking your card when the need arises.
Another reason why a bank or credit card issuer would block your card is due to unsettled payments. If you fail to pay your credit card bills in time, the bank won’t hesitate to block your card. When this happens, you won’t be able to make transactions with the card. Hopefully, such action will force you into paying what you owe so that the card can be unblocked. Mind you, such blocks are temporary, unlike those blocks initiated when your credit or debit card gets stolen.
So, if a credit card company blocks your card due to untimely payment, and you decide to pay your bills, how do you go about it? Well, it is pretty simple.
To pay the bill of a blocked credit card, you can adopt any of the three options. First off, you can decide to visit a branch of the bank. At the bank, make payment in cash and collect the deposit sip as proof of your payment. If you don’t want to visit the bank for one reason or another, you can transfer the money online to the card account. Alternatively, you can call your bank’s customer care and request for payment pick up in cash or check, whichever sits well with you.
It is important you note that some of the options may not be applicable in your bank. So ensure you make preliminary findings before you choose an alternative. For instance, the online payment method may not apply to your bank. In that case, you may have to visit the bank in person and make payment.
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What Should You Do if You Cannot Pay off Your Credit Card Bill in Full?
The time has come when you have to pay your credit card bill. However, things have been pretty rough for you. Your finances have been badly hit by the coronavirus epidemic, making it hard to meet up with the payment. You understand the consequences of failing to settle the bill, so you go into thinking mode. You scratch your head several times trying to figure out what to do at that point. How do you tackle such a situation? What do you do now that you can’t settle all your credit card bills?
If you cannot settle your credit card bill completely, don’t hesitate to call the company, hoping that they negotiate with you. If that doesn’t work out fine, you can consider debt consolidation or leveraging debt management services.
If you cannot settle your credit card bill completely for one reason or the other, there is hope for you. There are many techniques you can adopt to reduce the consequences of not being able to settle your bills in time. Rather than cower in fear and wait for the worse to happen, make moves, and you will be surprised at the outcome.
