Tesco Credit Card - Watch repayment date

Phoenix79_2

There isn't a lot you can do i imagine. Set up a DD for the minimum amount so you're not caught out and keep an eye on the statements

frivolous_fay

I don't particularly like setting up the direct debits because I like to be flexible in my payments.

When my statement comes in, I deduct 6/7 days from the payment due date (I play it safe) and set my internet banking to pay the amount I choose on that date. I tick the statement, put it on my done pile and forget about it.

Coupon-mad

I don't like DDs for CC payments either as I want to control when the payments will be coming out.

I have a Shell Visa card (RBOS) and had to write complaint letters twice last year when their statements showed payments I had sent by post had arrived a day late. What they didn't 'bank' on was the fact that I could tell what day they had paid my cheques in on (2 working days before they appear on my HSBC Bank statement). And the payment does not have to be cleared funds, just 'received' as per most CC t&cs.

I used to work in a Bank so no doubt about it, they were wrong, clearly they pay cheques in immediately on receipt, then they pass the info to another section to do the credit to your account the next day. Sharp practice in my book.

Shell tried to blame the postal service, then blame me for not allowing the week or whatever they 'suggest' on the back of the statement. I just repeated that I knew categorically when they received and banked my cheques, and did they want the matter referred to the Financial Services Ombudsman? No they didn't!

Took a couple of letters each time but they refunded the interest and late charge plus credited a fiver to my account to cover my postage etc. Waste of my time really but useful to know that you can argue about it if you do pay in full close to the due date and then get unexpected charges/interest.

Forreal

I always pay my Tescos card on the day before the due date by telephone and have never been charged - has there been a change?

Phoenix79_2

I'm saying set up a DD for whole amount....just for the minimum. Just so you're covered. Then you can make further payments in the month when it suits you more. Thats got to be more flexible?

/says the guy who still pays all his cc bills by cheque!

anniecave

Well I would have assumed it takes 4 days as you are supposed to allow 3 days for payments to clearing banks and Tesco is run by RBS which isn't a clearing bank. Different banks seem to vary whether they send the payment on the day you ask or the day after so I get fed up of figuring it all out!
And different places vary whether they say paying on a monday and arriving on a thursday counts as three days or four. In my maths that's three days but my bank says it is four!

Ecky-thump

NatWest Mastercard statements say 3 working days for payments to reach the account. I pay online, in full, and have just noticed today that it has changed to 4 business days. Cheek!
I sent them a feedback email thus:

"Why does the bank now need to have 4 working days for the payment to reach my account? It used to be 3 working days.
Online it is now termed as 4 business days. Business days could also include Saturdays.
Please would you make your instructions perfectly clear.
It still says 3 working days on the back of my paper statement.
People are being given two different pieces of information on the number of days for a payment to reach accounts.
Three days were too long before this change to four days.
Why does the bank need so much time?
You are denying us interest accruement for all those days.
It is not fair."

I hope to get a reply, but hey, knowing how things get 'lost' I might never get an answer. I just feel it is too long for them to have my money while in transit and earning them interest at my expense.
I think I heard an article in the news some months ago that the government were looking into this problem. Am I right? Are they doing this?