Credit Card payment date question.

JadedAngel88

Long time lurker and my first post, please be gentle. I just have a 'simple' question that I can not find the answer too and wondered if you lovely folks would help.

Ok I have recently got a credit card and say my payment date is 28th February and I pay the balance in full 5 working days before which would be the 21st , then I go out on the 22nd and use the card for a purchase. Does this mean that I havent actually paid in full because i have used the card before the payment reaches the CC account. Or do I just not use the card until the balance on CC is shown as zero.

I do apologise if I am being a complete numpty but I havent had a CC before and dont want to get myself in a tizz over paying it, if you get what I mean. I did search the MSE forums but didn't find the answer so I hope someone can help me.

Thanks

anotheralias

Any transactions after the date your statement was generated will go on the next month's statement. In other words, if you pay the amount showing on your statement by the due date then that will count as full payment, regardless of how many transactions you make in the mean time.

jennifernil

You do however need to be careful if you have a low limit on the card, or are near your limit on the statement date.

e.g......limit £500, spending on first statement (dated say 5th February) £450, so you only have £50 left of your limit until your payment reaches them on say 26th February.

If you spend over £50 on the card before your payment reaches them, you would go over your limit and likely incur a charge.

Mikhail

I would wait to see 0.00 on the internet statement. MBNA told me once to wait, as I have split a big purchase for 2 months period. Or if you have the pay-in-full option activated you should be fine, just don’t go over your limit.

JadedAngel88

Thank you for your answers, that has helped me to understand how these things work.