Full Balance payment

Snowedunder

I have a Direct Debit with Cap 1 to pay my full balance on the due date each month.

Now, here is the stupid question, is this the full balance as at the last statement, or the full balance on the date of payment, ie, I have spent on the card between these 2 dates.

sistafromanothermista

Deleted so as not to give wrong advice.....

gizmo111

It will be the full balance at the statement date.
Spending after the statement will be on the next months full balance.

shortcrust

gizmo111 wrote: »

It will be the full balance at the statement date.
Spending after the statement will be on the next months full balance.

Gizmo's definitely right. It's the statement balance, not the payment date balance.

SnowTiger

Snowedunder wrote: »

I have a Direct Debit with Cap 1 to pay my full balance on the due date each month.

Now, here is the stupid question, is this the full balance as at the last statement, or the full balance on the date of payment, ie, I have spent on the card between these 2 dates.

The DD will be for the amount on your last statement.

It should say something like this: "Your Direct Debit payment of £x.xx will be taken on or within 3 working days of xx/xx/13. If you make additional payments your Direct Debit will still be taken unless your balance is cleared in full."

I guess you've recently set up the DD. If your statement doesn't contain that wording your DD probably hadn't been set up in time and you should pay it using another method.

JakeGreen

It's the statement balance.

On your most recent statement it should say the minimum payment needs to be received by...

If you're clearing it in full, remember that the money is using up part of your credit limit until it's paid off. So you can't max out the card, receive the statement, then max it out again. You need to pay them first, not that I recommend maxing out credit cards!

The_Boss

Yep. Guys have nailed it when they say the amount will be on the statement.

Snowedunder

Thanks guys, I am keeping a very close eye on things as I have only recently built up my credit 'standing' again and wanted to make sure I had enough ready to pay the Direct Debit. Only a few pounds, but even 1p is enough to get me on the slippery slope again!!