What does the term "payment due by"?

picklednut

I have a Yorks visa card and when I go to the York bank and pay the credit card payment by cash it is credited to my credit card account straightaway. If my credit card statement says payment due by 11th of month does that mean I can still pay my credit card ON the 11th as it credited straightaway if I pay into a Yorkshire bank account or do I have to pay before 11th?

[Deleted User]

Needs to be credited to your account by 11th. I'd do it a few days before, although Faster Payments means you could do it the day before ( as long as neither day is a non working day).

Either way, I wouldn't flirt with the payment due date, any more than I'd flirt with the girlfriend of Mad Jack 'Kneecap Smasher' McLooney.

picklednut

I have been told by the Yorkshire Bank cashier that as I'm paying cash my Yorkshire Bank Credit Card account will be credited straightaway hence why I thought I might be able to pay it in on the due date (11th).

opinions4u

The back of your statement will usually explain clearance times for funds to reach the credit card.

As above, paying early makes sense. Paying on the wire is asking for trouble.

Gromitt

If for some reason you make a payment and it doesn't hit your account, your liable, so why risk it? Pay at least 3 working days before to ensure it always hits your account (in theory you could pay 1 day before, but again, I wouldn't risk it).

YorkshireBoy

opinions4u wrote: »

The back of your statement will usually explain clearance times for funds to reach the credit are.

Yorkshire Bank actually put in on the front of page 1...

Account Number
5504 50xx xxxx xxxx

Statement Date
15 March 2012

Current Balance
£0.00

Credit Limit
£xxxxx

Available to spend at statement date
£xxxxx

Minimum payment
£0.00

Payment Options
Payment due by - 12 Apr
Post payment by - 02 Apr
Pay at branch by - 04 Apr

...so, OP, it doesn't matter what has happened historically, or what you've been told in branch, because they make it very clear on the statement...in writing!