BARCLAYCARD PAYMENT NEED HELP PLEASE

nh

Sorry NH - They certainly DO - an overdraft is treated the same way as a credit card or loan in credit reference agency terms, and monthly updates are received and reported on in exactly the same way.

Soz MLC! The last time I got my credit file I'm sure it didn't have my bank account/overdraft on. It has searches listed where I have opened new bank accounts, but it does not list my current account.

So what do they banks actually tell the credit reference agencies? It is not as if they can give you a 0/1/2/3 etc because you are not 'paying' them anything monthly.

And I am sure my overdraft limit (ie available credit) wasn't on my file last time I looked.

Martinslovechild

Soz MLC! The last time I got my credit file I'm sure it didn't have my bank account/overdraft on. It has searches listed where I have opened new bank accounts, but it does not list my current account.

So what do they banks actually tell the credit reference agencies? It is not as if they can give you a 0/1/2/3 etc because you are not 'paying' them anything monthly.

And I am sure my overdraft limit (ie available credit) wasn't on my file last time I looked.

With my bank, i'm always in credit or within the overdraft limit so always get a '0' each month. I'm not really sure what would happen if I exceeded my overdraft limit - I suppose that's when you'd start racking up the '1's, '2's and '3's ??

nh

I suppose so. I am never over my (interest-free ;D) overdraft limit (with Lloyds) either so i wouldn't know

MarkyMarkD

The banks are very inconsistent in the way they report current account information, and many of them don't report anything at all if your account conduct is OK - I think that they see it as beneficial information to their competitors and therefore no benefit in disclosing it.

I seem to recall that there are steps afoot to harmonise this reporting, though, but that may be false memory.

King_David_2

I know there are sometimes benefits of using DD, as utilities etc give a discount - but one thing does puzzle me.

I have a Barclaycard and have always paid using the website, by debit card. I know what the minimum payment is before the paper statement comes, and the date they want it by.

It avoids any possibility of this kind of thing happening. After all, what credit card company gives a discount for paying by DD?

nh

The company doesn't give you a benefit but it certainly benefits you if you forget to pay via the website (especially if you have many cards) and the DD pays it for you therefore saving you a late payment fee and interest!

Milarky

After all, what credit card company gives a discount for paying by DD?

In effect, they will give you least 25 days interest free on the statement balance if you otherwise pay on/by the statment date by debit card...

04isgreat

I would just like to say that the transfer went into my bank account today ;D
and i would just like to thank everyone for their replies

04isgreat

Robert_Sterling_3

At least one credir card gives a date by which you must pay and gives a date 10 days earlier if you pay by full and by DD.

Leia_Stephens

I checked with a different credit card company and they told me if I made a payment myself the minimum DD would not collect.

My partner and I both have DD minimum payments set up on Barclaycards, and I think his DD goes through on the due date even when a payment has been made earlier in the month; my DD payment has never gone through - despite it regularly saying on statements that a DD minimum payment is set up for me ::) - but then that is a another story.

On the other hand, my DD minimum payment to Mint is working and does go out each month even though I have made more than the minimum payment beforehand: I generally pay as much as I can electronically around the 25th of the month and then my DD payment goes out around the 13th ::).

I don't know about Egg yet, but when I do I shall let everyone know .

BTW, I am considering cancelling one of my credit cards, I now have 3 but only want 2. I would like to keep my Platinum Barclaycard, perhaps for use in emergencies, because I quite like the prestige factor and I have had a Barclaycard since September 2001. Obviously I won't cancel my new Egg card - I anticipate doing quite a few SBTs from it and taking advantage of its anniversary 0% deal - but I am thinking of cancelling my Mint card; hey, if I do so, I will probably be able to get another 0% deal from them next year .

Leia