The Sub Prime Credit Thread - Part V

samwsmith1

DizzleUK wrote: »

The current balance won't show as £1.00 for a couple of days until the payment has cleared. It's recognised that you have spent £1 somewhere, but as with all accounts it takes a few days to match everything up.

As for setting up a payment for £1, I don't really see the point. Your statement will be produced soon enough and you can pay it then. If you pay before your first statement you'll probably confuse their computers into thinking there should be a minimum payment due somewhere but can't figure out where.

If your statement is due on the 6th August, then the minimum payment will be due on 27th August. You're not going away for a month are you?

If you pay your balance in full before 27th August you won't be charged interest.

*edit* though if you are intending to spend and then clear the balance with the intention of using it whilst on holiday that will be ok so long as you leave some sort of balance for them to put on your statement so there is a payment due. In theory it shouldn't make a blind bit of difference, but this is how fu*k ups happen.

Going away until the 15th August which is why I was concerned, I thought you maybe got a week to pay it and didn't want to end up with a late payment charge and interest.

DizzleUK

You may still have time to set up a Direct Debit for the minimum payment, then you'd be covered.

samwsmith1

Could I cancel it after as I don't particularly like doing things like this by direct debit and would rather do it through internet banking or by debit card?

onefortheroad_2

you pay by debit card online on the vanquis site

samwsmith1

onefortheroad wrote: »

you pay by debit card online on the vanquis site

I know that, were just trying to work out paying before statement.
I suppose I could setup a payment in internet banking before we go to go out a couple of days after the statement date?

Kelz

Good evening,

I have today been accepted for cap one cc on the road to building a decent credit rating, I often read on here and was wondering if anyone would kindly advise me as the best way to use the card; I have £200 limit which I would like to work toward raising a little, also is it possible to pay the bill online to ensure it's paid on time.

Any help much appreciated as I'm sure you have answered these before but I really want to get this right

Kerry

DizzleUK

Kelz wrote: »

Good evening,

I have today been accepted for cap one cc on the road to building a decent credit rating, I often read on here and was wondering if anyone would kindly advise me as the best way to use the card; I have £200 limit which I would like to work toward raising a little, also is it possible to pay the bill online to ensure it's paid on time.

Any help much appreciated as I'm sure you have answered these before but I really want to get this right

Kerry

Yes you can pay online, make sure you register as soon as you get the card.

You may get an increase on your 4th statement, I don't really think it makes all that much difference if you pay in full or just pay the minimum, so long as you use your card regularly and don't fu*k up your repayments. You will most likely get up to £400 then don't expect another increase for a couple of years (according to most on here.)

Kelz

Thanks for the reply,I will register as soon as I receive the card then, i'm happy to be patient with limits and am just pleased I got the card to be fair. I think I'll use it as a petrol card and pop the money to one side to clear it, no point paying lots on top in interest on such a small amount.
Kerry

costaerer

Or set up a direct debit to pay off minimum

Kelz

If I was to set up a dd could I choose to pay off some extra online as well, getting the minimum covered is good advice tho and covers any problems or late payment charges so thanks for the advice.
Kerry