direct debit?

Mysilv

Hi

I usually pay the minimum on my cards (yes I know!) but having trouble doing that this month. Am going to go onto direct debit, then I can't forget to pay :rolleyes: but wondered how long it takes to set up? I'm trying to wangle it,so I don't have to pay this month and it starts next month? Any ideas?

zcaprd7

You'll HAVE to make the minimum payment - if the DD isn't set up on time it will still be your fault still (and they will usually warn you to keep making payments).

It can't be used as an excuse to dodge a minimum payment.


If you are really struggling you could do a small balance transfer from another card - ideally as a super balance transfer (SBT) into your account and then pay you bill normally?

Unless you can get a good existing customer deal (on a card that's already clear) this option is likely to be expensive...

JasonW_2

But, if your payment day is say next week, you might be able to change it to say, 10th, so that its a few weeks longer before you pay, thus no payment this month . Ive done this before to varying success. Most lenders let you change your payment date, but you will get more interest added on though, thats the only downside. The worst that can happen is they say nope.

J

zcaprd7

JasonW wrote:

But, if your payment day is say next week, you might be able to change it to say, 10th, so that its a few weeks longer before you pay, thus no payment this month . Ive done this before to varying success. Most lenders let you change your payment date, but you will get more interest added on though, thats the only downside. The worst that can happen is they say nope.

J

Yes, they can be friendly if you say "I get paid on so and so day" and let you change it but I suspect you won't be able to deviate from the old date by more than 28 days - still its breathing space - you don't want a missed payment on your record?

JasonW_2

Ive done this before though, but it was years ago. It did exactly what I wanted to do at the time, but the phone person said I must warn you, you will incurr more interest as your time between payments will increase slightly. Fine It may or may not work

Mysilv

Thanks for the replies, thats what I wanted to know! Only need two or three weeks extra, as should be starting a new job this week. Then of course have to wait till paid from that. Will give them a call.

Mysilv

Forgot to say, cards are due 28th March and 1st April, should I change now?

JasonW_2

Only you know the answer to that one. They might not even say yes, so you could just enquire if it was possible, and ask what would happen to payments etc. If they say what you want to hear and if they know you want to start paying by direct debit, they might be more likely to agree, then you could make your decision then, or call back later