Interest Question

YorkshireBoy

Linda32 wrote: »

With respect, you have quoted half my paragraph and half my sentence, which isn't quite fair

I read your post as suggesting paperless billing. If that wasn't your intention then I'm sorry. I quoted what I thought was the only relevant bit to what I was about to say.

If the OP sets up the whole amount to be collected by DD then they don't have to remember when its due.

They'll need to ensure the funds are available in the current account though (hence my "until you've dealt with it/made provisions" suggestion) so will need to remember when it's due, which was my point.

Linda32

Hi again, thats quite alright and I do see what you mean about paperless billing.

It was just that the OP said in their question that they wanted to pay a week later (after purchase) to avoid interest, which in turn lead me to think they would have the funds available.

girlatplay

zerog wrote: »

This is bad for your credit history. Since you make manual payments already, why don't you just wait for the statement and then pay it off sometime between when you get it and the due date?

Why is it bad for my credit history?

YorkshireBoy

girlatplay wrote: »

Why is it bad for my credit history?

It was probably better to have said it "may not be good for your credit history", the reason being that there's a good chance the lender will always report a nil balance to the CRAs on the monthly update.

girlatplay

YorkshireBoy wrote: »

It was probably better to have said it "may not be good for your credit history", the reason being that there's a good chance the lender will always report a nil balance to the CRAs on the monthly update.

Oh right. Okay, thanks.

My statement doesn't always have a nil balance on it for example, if I use my card on the Monday and the statement is generated on the Tuesday and I don't make my payment until the Thursday then there is that overlap. Do you think this would make any difference?