payment days for credit card companies

The_Boss

timetogrowup89 wrote: »

What I used to advise people to do is set up a standing order for the day you get paid, then call the credit card call centre and get them to note this on the account and change your bill payment date (cycle that you are on) accordingly...

So if you get paid on the last day of each month call them and say that you will be making a payment this date and want to make sure your payment is not late. It can take 4 working days for the payment to reach your account, so if they ensure your payment due date is never before the 10th of the month this will allow for your standing order to leave your account on last day of the month and get to your credit card on time taking into account that there may be weekends, bank holidays etc.

Hope that makes sense?

It does but doesn't. Why a standing order and not a direct debit given the benefits of the latter?

timetogrowup89

The_Boss wrote: »

It does but doesn't. Why a standing order and not a direct debit given the benefits of the latter?

I personally think that a direct debit is the best way to ensure that payments aren't missed, was just cause the OP mentioned paying by transfer that I thought I would comment on the best way to ensure your not late with payment if you choose standing order

The_Boss

timetogrowup89 wrote: »

I personally think that a direct debit is the best way to ensure that payments aren't missed, was just cause the OP mentioned paying by transfer that I thought I would comment on the best way to ensure your not late with payment if you choose standing order

Ahh got you.

I actually have both set up on my 0% accounts - minimum collected by direct debit then standing order pays more to avoid minimum payment flags on credit reports about a week later (Santander adjusts the DD if a payment is made beforehand).

timetogrowup89

The_Boss wrote: »

Ahh got you.

I actually have both set up on my 0% accounts - minimum collected by direct debit then standing order pays more to avoid minimum payment flags on credit reports about a week later (Santander adjusts the DD if a payment is made beforehand).

Sounds like a good idea

datlex

timetogrowup89 wrote: »

Hi,

I used to work for a credit card call centre.. Its to do with it being on a 28day bill cycle..
There is nothing they can do to make it land on the same day due to weekends, bank holidays etc.

If you call them up they can look at the 28day bill cycle that you are on and tell you the dates that your bill will be produced and payment expected. There is usually only a few days between, so they will be able to say that it was always be between certain dates (eg. 1st - 5th of month)

People used to call up with theis query all the time when I worked there.

Hope this makes sense

I personally would suggest a standing order payment for as long as would take to clear the card