credit card 56 days interest free

STANTHEGANDER

f.y.i my faster payments to my credit card come from my savings account so if you want to do it that way you can , it would just mean that you would have to pay the balance of your card into your savings account a month in advance , then you could have the best of both worlds:Tyou just wouldnt recieve interest on your savings account in the first month , thats all
to put you in the picture meer52 i use my credit card to run my ebay shop , buying items for sale , paying for postage , paying ebay fees soon adds up , and if i ever happened not to pay the balance in full one month or 2 , the iterest i would be paying on my credit card would be 100 % tax deductable anyway!!

moonrakerz

STANTHEGANDER wrote: »

also as moonrakerz said the fraud side of things is better too because if your balance is full up nobody can use your credit because there is no available credit left on your card!!

That isn't what I said..................

STANTHEGANDER

yes but it is true it does reduce exposure to fraud , and lets face it even if its the credit cards problem , who wants it?

Dabooka

This thread is hard work for a Sunday.

Stan, I think you're misquoting Moonrakerz, they seem to make a purchase on their card and pay it off in dribs and drabs to reduce the monthly bill, S75 etc.

You seem to be advocating the reverse; put money ON the card to then spend, the idea being that every month you're putting slightly more on it than you spend, so over time you'll clear your £2.5k.

I totally understand where you're coming from, but for one thing; they (the CC) can still reduce your limit at any time, you seem to think by keeping it maxed out you're reducing their window of opportunity and will prevent this happening.

Personally, I think I'd just rather apply for a 0% deal elsewhere....

STANTHEGANDER

i didnt realise they could reduce the limit at any time when i had a maxed out balance on my card i thought they could just close the account, does that mean if they reduced my limit to £2000 when i had a balance of £2500 they could then charge me daily? do they do this often?and do they give any notice?if they done that to me then i would probably go down the unenforcable debt route because it was pre 2007

Dabooka

Firstly you can forget unenforceable route, it's a non-starter normally (search the forums, the test case was chucked out last year I believe, someone will pop up soon about that I guess).
Secondly, they can do anything when it comes down to account management, especially for odd behaviour like yours. There was a post on here the other day that showed a limit had been reduced whilst there was a transaction outstanding, so it's more than possible.

Is a new card at 0% an option? It would be far easier for you not to mention us!

STANTHEGANDER

i didnt think it was that odd?paying in and then spending is that not what most folk do? oh well i suppose its just a chance i have to take !!, still getting 0% at the moment anyway!! can they take money from my savings account to pay the card if my bank is the same as my card?without notice

SnowTiger

STANTHEGANDER wrote: »

i didnt think it was that odd?paying in and then spending is that not what most folk do? oh well i suppose its just a chance i have to take !!, still getting 0% at the moment anyway!!

No, that's not what most people do. Most people spend and then pay off the balance (or part of it). This is, effectively, what you're doing, but I know you don't see it that way.

STANTHEGANDER

yes thats exactly what im doing paying off the previous months balance and spending , albeit at the same time , this isnt odd behaviour is it?

meer53

STANTHEGANDER wrote: »

yes thats exactly what im doing paying off the previous months balance and spending , albeit at the same time , this isnt odd behaviour is it?

I think it is, but i don't know what your C/C issuer will think about it. Most people tend to spend throughout the month then either pay off the full amount or the minimum. The only time i ever make extra payments to my card is if i've paid for something for a friend and they've paid me the money, then i send it so that i don't spend it !