CC account in credit - normal??

HelenYorkshire

Couldn't really summarise in the title.
Basically, my CC is set to direct debit in full each month. Last month I went over my credit limit by about £70. As soon as I saw this I credited the account with £200 to clear this, plus any charges, plus as a buffer for any pending transactions. I then stopped using the CC.

On my normal direct debit date, they have taken the FULL amount from my bank account - leaving my CC account £200 in credit. I need that £200 over here!! What the heck is the point of paying as soon as I noticed my mistake when they take the whole lot anyway?? :eek::mad:

I have sent them an internal message but am fuming. The £200 has been the difference in my overdraft targets in my bank account.

Can't do right for doing right.....

McKneff

When you say you credited the account with £200, I presume yu mean the CC, if that is what you did, then they havent actually done anything wrong, they have done what you told them to do. Unless I'm reading it wrong of course.

Ring them up and ask for it back or just use the credit card for everyday purchases till its used up.

HelenYorkshire

Yes I put the £200 into the credit card account - which surely reduces the balance owed by £200 - so they've now taken £200 too much via the direct debit. There's been over two weeks since I credited the account and the DD being taken, so it's not like I didn't act in time.

Venusflytrap

HelenYorkshire wrote: »

Yes I put the £200 into the credit card account - which surely reduces the balance owed by £200 - so they've now taken £200 too much via the direct debit. There's been over two weeks since I credited the account and the DD being taken, so it's not like I didn't act in time.

I too was caught out by this when I was trying to minimise interest charges for foreign cash withdrawals on my Halifax Clarity by making manual payments before my DD date. Looking at my T&Cs, it does say that the DD will collect the full amount (if so set up) on the specified date irrespective of any additional payments credited to the account (after the statement date but before the payment due date). I bet yours is same.

Just ask for a BACS transfer to your current account if you need the cash, otherwise spend the credit with your CC.

paulwellerfan

cant you just spend an extra 200 on the credit card.

i am always in credit with my cc and also my store card
i just see it as being in front with my payments

scottishblondie

Given that the time period between your extra payment and the DD was 2 weeks, it sounds like you had already had a statement generated with the DD amount on it. With most CCs once they've notified you of the DD amount that is what they will take, regardless of any payments that you make in the interim. If you want the amount to be adjusted, you usually need to contact them to get it done manually.

HelenYorkshire

Well that's me told!
It's not an unmitigated disaster thank god, but it did screw up my budgeting for particular bills coming out on particular days, sending my other account further overdrawn - so I will now be paying interest/charges on that (which is why I wasn't just shrugging it off).
I'm hoping not to spend £200 this month, oh well.

Thanks everyone