Repayments

grown_up_girlie

Morning everyone,

I have recently been given a credit card (2 weeks ago). I have used the card a couple of times for small amounts.

I have already been making payments online via my online banking each time I have used it, on both occasions the same day.

My reasons for doing so is so I always know its being paid straight away (No outstanding bills and no interest charges), and I know where I stand financially yet having the freedom of being able to use a card online, in shops etc etc.

Do you think that the card company may have a problem with me doing this... I know they will still be getting their money but I can't help but feel that they would rather me pay it once a month when my statements come through.

Does anyone else do this?

Thanks everyone.

Fahim_2

I do the same, i mean not almost same. I make payments before the statement comes, sometimes several times a month...i have the account for 7 months...

exel1966

grown_up_girlie wrote:

Morning everyone,

I have recently been given a Capital One credit card (2 weeks ago) with a limit of £200. I have used the card a couple of times for small amounts - £11.49 and £10.00.

I have already been making payments online via my online banking each time I have used it, on both occasions the same day.

My reasons for doing so is so I always know its being paid straight away (No outstanding bills and no interest charges), and I know where I stand financially yet having the freedom of being able to use a card online, in shops etc etc.

Do you think that Capital One may have a problem with me doing this... I know they will still be getting their money but I can't help but feel that they would rather me pay it once a month when my statements come through.

Does anyone else do this?

Unfortunately any suggestions of applying for a debit card is not an option, I have done and was turned down on several occasions so I am lucky enough to have landed this credit card.

Sometimes I think I am a fruitcake for worrying over silly things like this but I want to make sure what I am doing is okay .

Thanks everyone.

The credit card company won't give a damn as long as you make regular payments.
Obviously you would be better off keeping the money til it was actually due, but if it makes you feel more secure by doing it your way, then certainley do it.
You may find that after a few months Capital One note your regular payments and increase your credit limit. You don't have to accept it though !

lizzie12_2

I have a direct debit set up for a regular amount each month - try not to withdraw cash out with your card as then you pay two lots of interest - one for purches and one for withdrawing cash .

If you stay within your limit for approx six months then I think they up your limit. It is handy if you need to buy something urgently, you are covered then if anything goes wrong.

Fahim_2

I have the account for seven months, never missed a payments, but i think they'll never increase my limit...i got the halifax one card today, so i probably gonna cancel it this week....

Megatimbo

Hello grown_up_girlie,i was sent a post invite by cap 1 around 3 years ago and like you started with a £200 credit limit but after awhile when they saw i could manage the payments upped it to £400 then after another spell £1000 of course i went a bit mad and bought a load of computer parts and rebuilt my pc from scratch so used up most of the credit
This was just because i couldnt get a debit card so this was the only option to purchase online.
I have just paid this off via a lump sum after maxing out and paying just above the min payment for ages,i am thinking of killing it off as the interest is sky high
regards Megatimbo