We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Credit Card Payments
Zack1
Posts: 1,433 Forumite
I just wanted to check the situation for this, as I’ve paid off a card in instalments before, I normally select the full bill option, then pay more if I max the card before the end of the month.
This time I had a bill generated the other day for £326 (my credit limit is £350). I need to make a purchase for £270ish but only have easy access to £250 cash at the moment (rest is locked in savings or going to take 3 days to clear), so I have paid £250 of my bill for the credit card and when that processes it’ll leave me with just over £270 to spend on the card, allowing me to get my purchase
That would then near enough max out the card but I would then pay the outstanding £76 (£326 bill - the £250 I paid tonight) when I get more money next week. As long as I do pay the £76 before the statement due date will they accept it as a full payment on time, even though it’s been paid in instalments? As all the money owed from last month would have been paid, just not at once like usual, then I’d just have my purchase and any other spending to pay off next month? So it won't affect the "full payment" stuff on my credit report? And most importantly, I shouldn't get charged interest or anything like that?
Thanks
Zack
This time I had a bill generated the other day for £326 (my credit limit is £350). I need to make a purchase for £270ish but only have easy access to £250 cash at the moment (rest is locked in savings or going to take 3 days to clear), so I have paid £250 of my bill for the credit card and when that processes it’ll leave me with just over £270 to spend on the card, allowing me to get my purchase
That would then near enough max out the card but I would then pay the outstanding £76 (£326 bill - the £250 I paid tonight) when I get more money next week. As long as I do pay the £76 before the statement due date will they accept it as a full payment on time, even though it’s been paid in instalments? As all the money owed from last month would have been paid, just not at once like usual, then I’d just have my purchase and any other spending to pay off next month? So it won't affect the "full payment" stuff on my credit report? And most importantly, I shouldn't get charged interest or anything like that?
Thanks
Zack
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards