Credit Card minimum monthly payment

SEE

Apologies if this has been posted before, but I just wanted to know why Halifax credit card will only allow you to pay the minimum monthly repayment by direct debit. If you want to pay off more you have to send a cheque, visit the bank, or organise a transfer of funds over the phone.

Why won't they allow you to pay off above the minimum via DD thereby reducing the amount of debt and the amount you pay monthly. I am paying the minimum which works out at just over £25 per month, but my debt is only reduced by £6 per month.

SEE

I forgot to say, I owe £1000

stephane_2

You can pay more than the minimum....you can make additional payment via your bank Internet banking.

SEE

stephane wrote: »

You can pay more than the minimum....you can make additional payment via your bank Internet banking.

I tried setting up a separate standing order so I could pay a little extra, but it wouldn't let me because I bank with Halifax as well as have my credit card with them. It kept telling me that I already had a direct debit and that I couldn't cancel it until paid. I didn't want to cancel it, I wanted to separately be able to pay a little more.

B19JON

On the back of your statement, it should give you account and sort code details to make a payment. You should be able to use these details with your internet banking.

I have santander and barclays internet banking and it's very straight forward to pay additional on a bill.

opinions4u

SEE wrote: »

Apologies if this has been posted before, but I just wanted to know why Halifax credit card will only allow you to pay the minimum monthly repayment by direct debit. If you want to pay off more you have to send a cheque, visit the bank, or organise a transfer of funds over the phone.

Why won't they allow you to pay off above the minimum via DD thereby reducing the amount of debt and the amount you pay monthly. I am paying the minimum which works out at just over £25 per month, but my debt is only reduced by £6 per month.

1. They offer more than just minimum payment as a direct debit option.

2. You can set up a standing order or Faster Payment for any amount you choose. There's nothing to stop you.

SEE wrote: »

I tried setting up a separate standing order so I could pay a little extra, but it wouldn't let me because I bank with Halifax as well as have my credit card with them. It kept telling me that I already had a direct debit and that I couldn't cancel it until paid. I didn't want to cancel it, I wanted to separately be able to pay a little more.

Have you tried phoning the number on the back of your card?

bengal-stripe

B19JON wrote: »

On the back of your statement, it should give you account and sort code details to make a payment. You should be able to use these details with your internet banking.

SEE, don't forget to include your 16-digit card number as reference.