Payment Dates

RichL74

Sorry, this has probably been asked a thousand times but still.

My payment 'due' date is the 19th of every month. Would I be okay paying via bank transfer on the 15th of the month or would that be cutting it a little too fine?

Also, say if the 19th is a weekend, would it need to be paid earlier than the 15th when this happens?

Card companies say allow four days however from what I have noticed it seems to show up after two days on the credit card account for payment received.

bengal-stripe

If your CC accepts Faster Payments (some do and others don't) then you are all right. You must make sure, that the payment (by whichever method) will hit your CC by Monday 19th during working hours.

Gromitt

RichL74 wrote: »

Card companies say allow four days however from what I have noticed it seems to show up after two days on the credit card account for payment received.

That doesn't mean it always will, and if it takes longer and so your payment isn't processed in time, you'll get a late payment fee.

Best to ensure you leave 7 days (4+3 days for weekends) in advance of any payment. So I'd say no later than the 12th.

Or just setup a DD - it takes the hassle out of it all, money is collected on the due date and bank holidays/weekends don't affect it (the DD will be paid late, but have no effect on your record).

RichL74

It's not the forgetting to pay bit, I am paid on the 15th of the month so it just made sense to me to pay it on the 15th.

I guess I could ask the CC company to change my statement date by a couple of days, do they do things like that or is it written in stone?

My statement date is the 24th of the month with payment due by the 19th of the next month.

I have had some unplanned work done lately so have had to plonk the lot of it onto my card (close on £2k - you cant plan for unplanned can you?) It's rather annoying it has worked out this way.

YorkshireBoy

RichL74 wrote: »

I guess I could ask the CC company to change my statement date by a couple of days, do they do things like that...?

Some do.
Some do, but only once.
Some do, but charge £10 per change after the first one.

YorkshireBoy

RichL74 wrote: »

(close on £2k - you cant plan for unplanned can you?)

A couple of ways...

1. Build a savings account balance (not easy for some for £2K).
2. Ensure you always have a 0% on purchases credit card with several months to run.

RichL74

I guess so, I'll give them a call and see what they say.

guesswho2000

I have this issue with one of my cards (sort of). The due date falls a few days after my pay day, so making full payment is cutting it fine each month (always possible, but what if I forget one month scenario, there's no room for error) so I've got a DD for the minimum in place anyway, just in case. It always gets taken as my payment is too late to alter the direct debit, but its no big deal.

RichL74

That's an idea set up a direct debit for the minimum then make my bigger payment on the 15th.

shezam

How long did it take for your card to arrive and when you activated it where you able to use the online facilities straight away?

Thanks

RichL74

shezam wrote: »

How long did it take for your card to arrive and when you activated it where you able to use the online facilities straight away?

Thanks

Huh? Have you posted this in the correct thread? I've never mentioned which card or anything about activation in this thread.