Credit card payments before minimum payment is due?

Ben8282

Do you think that if a balance is equal to the minimum payment it will always be recorded as a minimum payment?

chattychappy

Ben8282 wrote: »

Do you think that if a balance is equal to the minimum payment it will always be recorded as a minimum payment?

Well, of course technically it is correct to do so. But I don't think it is the purpose of the flag.

Since I had a subscription to Experian, this was the only time I had a card where the balance has been the minimum.

So answer is: I don't know!

princess*daisy

Ben8282 wrote: »

What I am saying is that paying the mimimum payment in the form of daily £1 instalments is a bit strange.

That's not what I (and I'm sure 99% of PADders) do or intend to do though.

I make smaller payments from what is left in my bank account before payday

THEN pay fixed amount on payday (currently minimum +£20)

THEN make online payments thereafter by rounding down my bank balance to the nearest £1.

It certainly helps me to pay extra because it doesn't hit me as hard as paying a big additional sum in one go - I barely notice the "under a quid" extras, which would otherwise get spent on rubbish.

InsideInsurance

I would certainly echo the comment about checking what happens with the DD. With my current/ old cards, if you paid below minimum payment before DD due then:

RBS Group - still take min pay DD in full
Barclaycard - adjust DD to make total payment up to min pay
Santander - dont take any DD that month.