cc payment

newbee007

Hi there

I have question regarding my first credit card payment (Capital One).

On the 9th of June I received my first statement - £42.32, payment due date is 5th July. For now, balance is around £200. I want to make a "full payment" now and dont know if I should pay amount from statement or to cover whole balance? Could anyone explain what is gonna be the best option?

Many thanks

grumbler

newbee007 wrote: »

..I received my first statement - £42.32, payment due date is 5th July. For now, balance is around £200. I want to make a "full payment" now and dont know if I should pay amount from statement or to cover whole balance?...

It's the former. The easiest option is to set up a DD for the full payment and leave it to the CC company to collect the correct amount. Otherwise it's worth setting it for at least a minimum payment to be protected from late payments if you fail to make a payment in time.

leeroy2009

well how do you have your direct debit set up? if min payment simply top the remainder up with your debit card, or faster payment the remainder.

newbee007

i didn't set direct debit, I want to pay using my debit card but dont know how much should I pay. I think will go for whole sum

leeroy2009

yer pay the full lot if you don't wanna pay interest next month.

personally while your at it, id also set a direct debit to cover the min payment for future that way your at least covered from late payment charges etc.

grumbler

newbee007 wrote: »

i didn't set direct debit, I want to pay using my debit card but dont know how much should I pay.

£42.32. I thought I made it clear.
If you pay the statement balance every time and don't make cash withdrawals, they don't charge you any interest.

newbee007

I have just paid the whole lot, just to be on the safe side. Is it gonna be reported to credit agencies as full payment for both months - June and July if I won't use this card till next statement?

grumbler

newbee007 wrote: »

I want to make a "full payment" now and dont know if I should pay amount from statement or to cover whole balance?

leeroy2009 wrote: »

yer pay the full lot if you don't wanna pay interest next month.

Your 'full lot' is very confusing, if not misleading, in this context.