Mastercard final balance

A_fiend_for_life

I have a small sum left to pay on a mastercard which should be paid by the end of the month. What's the best way to pay this off without accruing interest the following month? Do you simply ask for interest to date to be applied and pay?

Also I had an arrangement on the card that expired 3 years ago when I reached a certain balance. The card has expired and not been renewed. What is the best way to deal with this card? Just close it or request a new one? At the most I will make small affordable purchases for 'needs' and pay it off in full every month to improve my credit rating.

PNPSUKNET

What was the reason you had an arrangement to pay?

A_fiend_for_life

I was made redundant, unable to meet minimum payments at the time and had an arrangement to pay £10 a month until I was back within the credit limit.

PNPSUKNET

I dont think they will issue you with a new card, if you ring or write to them and ask for confirmation that the account is closed.

exel1966

A_fiend_for_life wrote: »

I have a small sum left to pay on a mastercard which should be paid by the end of the month. What's the best way to pay this off without accruing interest the following month? Do you simply ask for interest to date to be applied and pay?

Also I had an arrangement on the card that expired 3 years ago when I reached a certain balance. The card has expired and not been renewed. What is the best way to deal with this card? Just close it or request a new one? At the most I will make small affordable purchases for 'needs' and pay it off in full every month to improve my credit rating.

I would think the chances of getting a new card are very remote, Better to cancel it and try your luck elsewhere.

As for the interest it's impossible to avoid it due residual interest, but you can minimise the following months interest and avoid any more being added by estimating the interest payble next month and paying slightly more than that onto the card, therefore putting it into credit temporarily which will then cover the following month. After that time you will be clear to close the account.