direct debts and credit cards....

postingalwaysposting

I know this might sound silly but how can i set up a direct debt to pay off the minimum amount each month? I am with capital one and I always pay my balance off in full when the bill comes through the door (using online banking) but how can i set up a direct debt for them to automatically take the minimum? Also once they take that minimum can i then pay more off to take it down to £0? thanks in advance posting

YorkshireBoy

See the reverse of your statement.

magentadreamer

It should tell you on your statement as YB said. Once you've paid the min via DD you can also make another payment as well.

postingalwaysposting

ah thanks both of you it says phone them so i will do tommorow thanks again posting

grumbler

postingalwaysposting wrote:

I know this might sound silly but how can i set up a direct debt to pay off the minimum amount each month?

IMO the best way is to make a phone call to their CS. BTW it is called 'Direct Debit':D

...Also once they take that minimum can i then pay more off to take it down to £0?

Yes, you can, but for majority of cards if you dont pay full balance on time you lose interest free period next month and will be charged interest on each purchase from the day of transaction. Check your T&C.

nuttyrockeress

Just give them a call on 0800 952 51 50

Tht will take ou to CS where you can set up a DD to take the minimum, a set amount or the full amount each month. you are able to pay extra if you only pay the minimum via telephone banking, internet banking, cheque through the post or cash/cheque over the bank counter

Rafter

Just be a bit careful about how and when you pay the balance (ie your statement less your minimum payment).

Some providers are a bit sneaky and won't take the direct debit if you have already paid at least the minimum by other means.

R.

nuttyrockeress

Rafter wrote:

Just be a bit careful about how and when you pay the balance (ie your statement less your minimum payment).

Some providers are a bit sneaky and won't take the direct debit if you have already paid at least the minimum by other means.

R.

As far as I am aware Cap One will take the DD unless it's cancelled

CIMA_LOVER

Rafter wrote:

Just be a bit careful about how and when you pay the balance (ie your statement less your minimum payment).

Some providers are a bit sneaky and won't take the direct debit if you have already paid at least the minimum by other means.

R.

Isn't that a good thing???, its saving you paying twice.

magentadreamer

CIMA_LOVER wrote:

Isn't that a good thing???, its saving you paying twice.

Erm not if you're wanting to pay more then the min to clear it and have set up the DD as a safety net to make sure you don't miss payments.

CIMA_LOVER

I think its a good thing, If for example you have a balance of £800 and a miniunm payment of £20, and you pay say £400 over the internet, why should you have you to pay the miniumn???

I think that its good, that the direct debit is readjusted in this situation.

And if you already paid the minimum by other means, then you have no reason to worry.