How Much To Avoid Interest

YorkshireBoy

Mr._H wrote: »

There's a problem with this though - if you make your minimum payment by debit card, then there's no need for the DD to happen that month, so it won't. Then how do you know it's working?

MBNA direct debit collections are 'set in stone' based on the statement balance.

You can pay whatever you like - even clear the balance - but the DD will still collect, and create a £25 positive balance on the account.

The ONLY way to stop an MBNA direct debit being collected is to contact MBNA at least 5 working days before the payment due date.

IIRC, your first "minimum payment" will equal £25 + the 2.98% balance transfer fee.

That's how they used to operate, but since September's T&C change the BT fee is added to the balance and is not collected with the first minimum payment.