Best way to pay off a credit card

Ben8282

Miss_J wrote: »

Eydon, I called my bank ... so I've cancelled the direct debit and will see on the 29th if I can pay off in full. Good advice though, so thanks for the header.

Just a thought here. I am surprised that the bank have agreed to cancel the direct debit for this month without having received a payment and that their system will allow them to do this.

Are you sure that you have stopped it only for this month or cancelled it completely. If the latter, it may never be taken again so you will have to make sure you make manual payments to this card in the future. especially next month ...

basill

No need to leave a small balance or even wait for a statement. If you wish to clear (and/or close the account) the CC company can calculate a settlement figure which includes the balance owing and any interest payable up to a certain date. As long as your payment reaches them on or before that date the account will be clear and can be closed.

B

Miss_J

Ben8282 wrote: »

Just a thought here. I am surprised that the bank have agreed to cancel the direct debit for this month without having received a payment and that their system will allow them to do this.

Are you sure that you have stopped it only for this month or cancelled it completely. If the latter, it may never be taken again so you will have to make sure you make manual payments to this card in the future. especially next month ...

I've cancelled the direct debit myself online with my Santander account. My current account allows me to cancel any of my direct debits online myself. Also I informed then that I will make a faster payment from my Santander account to the Santander credit card by 29th March, which they said was the last day to ensure it is credited to my credit card account in time.