Additional payment to credit card

elstree

Apologies if this has type of query has been posted before.

I have just paid £ 1100 to my C C account AFTER my statement has been sent on 12 July. I pay the full amount owing by direct debit each month.

The balance on the statement will obviously show the full amount before the deduction of the £ 1100. My online balance today of about £800 takes into account the payment I have just made, but the statement yet to arrive will obviously not.

What amount will the company take by direct debit take on 6 August? Will it be the full amount as shown on the statement dated 12 July ( very sneaky! but i wouldn't put it past them) or the amount shown on the statement less the £1100 made as an additional payment. I cannot be the first person to have done this but nowhere on the Q & As for the visa website does it even show.

I am always suspicious of these companies when you have problems getting an answer.

tomsco

elstree wrote: »

Apologies if this has type of query has been posted before.

I have just paid £ 1100 to my C C account AFTER my statement has been sent on 12 July. I pay the full amount owing by direct debit each month.

The balance on the statement will obviously show the full amount before the deduction of the £ 1100. My online balance today of about £800 takes into account the payment I have just made, but the statement yet to arrive will obviously not.

What amount will the company take by direct debit take on 6 August? Will it be the full amount as shown on the statement dated 12 July ( very sneaky! but i wouldn't put it past them) or the amount shown on the statement less the £1100 made as an additional payment. I cannot be the first person to have done this but nowhere on the Q & As for the visa website does it even show.

I am always suspicious of these companies when you have problems getting an answer.

Troll? Did you call Visa or the company that issued your card? Seeing as we don't know what lender you are with we don't know their policy on direct debits. Check what their T&C's say, or the letter they sent you when they setup the DD.

But as far as most go, I do believe they subtract any amounts payed in prior to the claim date... very sneaky of these suspicious companies. :doh:

exel1966

elstree wrote: »

Apologies if this has type of query has been posted before.

I have just paid £ 1100 to my C C account AFTER my statement has been sent on 12 July. I pay the full amount owing by direct debit each month.

The balance on the statement will obviously show the full amount before the deduction of the £ 1100. My online balance today of about £800 takes into account the payment I have just made, but the statement yet to arrive will obviously not.

What amount will the company take by direct debit take on 6 August? Will it be the full amount as shown on the statement dated 12 July ( very sneaky! but i wouldn't put it past them) or the amount shown on the statement less the £1100 made as an additional payment. I cannot be the first person to have done this but nowhere on the Q & As for the visa website does it even show.

I am always suspicious of these companies when you have problems getting an answer.

How about reading the specific terms on your account or contacting the card company and asking them rather than relying on guess work? Why are you looking at the VISA website to find out, it's nothing to do with them.

How do you expect a correct answer when you haven't given the card company? They all have slightly different rules regarding DD's and extra payments.

If you pay the full amount each month by DD, therefore incurring no interest charges, why would you pay it early and then put yourself in a predicament of not knowing what's going to happen when the DD is due?

As for sneaky....I suspect troll too !

Hooloovoo

They will most likely take the balance, and not the full amount on the statement.

The only time a problem occurs is when you make the additional payment after the direct debit has been called but before the money has left your account. This could be anything up to around five working days before your payment date.

So as long as your extra payment cleared long before the DD is called, you'll be fine.

lisyloo

If the payment is long before the DD then it will probably be taken into account, but as other have pointed out we can't possibly say without knowing which company.

If it's last minute then the computer instruction file may already have been prepared (possibly up to a week in advance).
That's not sneaky, that's just how the computers have been set up.

Why did you put yourself in this position, of making a large payment without knowing whether it would be included? That doesn't sound sensible and now you blame the companies saying they are sneaky??

Hooloovoo

exel1966 wrote: »

If you pay the full amount each month by DD, therefore incurring no interest charges, why would you pay it early and then put yourself in a predicament of not knowing what's going to happen when the DD is due?

Generally in order to spend more than your credit limit in any one month. Quite common.

exel1966

Yes, I'm fully aware many people who don't get what they consider to be an adequate credit limit do use this risky method of boosting the limit, but I specifically wanted to know if the OP would give that answer or had another reason because I have my suspicions just as the OP has theirs.

Hooloovoo

exel1966 wrote: »

do use this risky method of boosting the limit,

Risky? It's hardly risky. You just make a payment and job done. As I said the only "risk" is if you make your additional payment too close to the direct-debit date. But if you're already close to the direct-debit date then there's usually no need to pay it off any earlier ...

exel1966

Aside from the potential problems with DD's It's very risky unless your completely on the ball with your payments, knowing exactly when they've cleared and know at all times how far away from reaching your limit you are and what your exact balance is. It would be very easy to exceed your credit limit by taking your eye off the ball or just forgetting !

Hooloovoo

exel1966 wrote: »

Aside from the potential problems with DD's It's very risky unless your completely on the ball with your payments, knowing exactly when they've cleared and know at all times how far away from reaching your limit you are and what your exact balance is. It would be very easy to exceed your credit limit by taking your eye off the ball or just forgetting !

Fair enough. I'm basing my opinion on this sort of thing only having to be done maybe once or twice a year so it would be very easy to manage.

Not every month. Or worse, multiple times a month - I agree that would be difficult to track.

InsideInsurance

Different card issuers treat it differently, for example my experience has been:

Barclays - will reduce your DD
RBS/Natwest - will take the full DD
Santander - will not take anything on the DD

Obviously this assumes your DD is to clear the balance each month