Barclaycard Platinum Visa - be warned!!!

dj2006

I've had some money on 0% balance transfer for some time, paying off the minimum every month by direct debit. The 0% was comming to an end so when the last statement came through I paid off the full amount minus the minimum thinking that would be covered by the direct debit. Apparently not. If you make any payment before the DD date, they do not take the DD money. A bit sneaky I think because now of course I've got to pay interest for the minimum amount that didn't get paid.

Don't get me wrong, it's not much but the point is it seems a bit sneaky & if they catch a load of people out then that's quite a few quid they're making.

Grrr..

nzseries1

I just got one of these cards, so thanks for the warning.

I had the exact opposite situation on my Ulster Bank Gold Card last week - I paid the full statement balance 11 days before my "minimum payment direct debit" was due, hoping they wouldn't take the direct debit, but they took the direct debit anyway, so I ended up with a credit balance (although can hardly complain about that!)

Moggles_2

The effect of a manual payment, when a direct debit is active on your account, varies between lenders, so we need to make sure we understand what will happen before making additional payments.

The variations I have encountered are:
1) The direct debit is recalculated if a payment is made at least x days before the DD is due [eg. Capital One, Egg]
2) If a manual payment is made, regardless of the amount, no money is taken by DD that month. [eg. Barclaycard]
3) No account is taken of any payment made. The amount specified on the statement is automatically collected by DD unless instructed otherwise [eg. Co-Op, MBNA, RBS (which runs Ulster Bank)].