Basic credit card payment question

jamesallen

Hi everyone.

I'm new to credit cards, and I just have a quick question about repayments. This is really obvious stuff, but I just want to check I've got everything right - I only got the card to build my credit rating so screwing this up would rather defeat the object

I have set up a direct debit to pay off the full balance each month. I need to ensure I have sufficient cash in my current account to do so. I got the card earlier this month. Can someone just confirm that I have the right end of the stick below?

I bought a couple of things on the card during July, coming to about £150. I got a statement on 25th July, and the payment due date is 20th August.

I have since bought a laptop for university, costing about £400. This is under recent transactions.

Therefore I should need £150 in my current account shortly before 20th August, and £400 (plus funds for any further transactions) in there for 20th September. Is that correct?

Thanks in advance :beer:

tomsco

Affirmative

mjm3346

Have the card company confirmed the payment will be collected by DD?

jamesallen

tomsco wrote: »

Affirmative

mjm3346 wrote: »

Have the card company confirmed the payment will be collected by DD?

Yup they've confirmed it.

Thanks guys. I know it was a stupid question but it's nice to be sure. I think I had a paranoid feeling that they might want the £400 on 20th August as well.

Cheers :beer:

reclusive46

jamesallen wrote: »

Yup they've confirmed it.

Thanks guys. I know it was a stupid question but it's nice to be sure. I think I had a paranoid feeling that they might want the £400 on 20th August as well.

Cheers :beer:

Haha, I just use reward/cashback cards and sometimes it can seem like forever before you end up paying the bill hehe

YorkshireBoy

jamesallen wrote: »

Yup they've confirmed it.

On the statement?...ie, with the message "your direct debit payment will be collected from your nominated account on 20/8/12" (or similar wording)?