Can I clear a credit card payment quickly?

pennypitstop_2

Hope someone may help on this, I had a look at the other threads but this problem was not specifically covered I don't think

My hubbie has a Capital One credit card and needs to make this months payment before the 28th. It says on his bill that the last day to pay would be the 21st. He looked at the '28th' date and messed up, hasn;t paid it yet :mad: .

Is there any way he can get a payment to reach his CC account before the 28th? It looks like internet banking, paying cash in the bank etc all take too long to clear. Does anyone know of a solution? Would be really helpful if you guys could come up with something!

Ta

Penny

inmypocketnottheirs

I have a capital one account and on line banking with Lloyds TSB and Citibank. If I pay online, it generally shows in 2 days. I reckon if you pay online today/tomorrow than it should arrive in the account on Tuesday, but won't actually show until Wednesday IYKWIM.

HTH

pennypitstop_2

Thanks, I'll send the payment online anyway. I'm with The Abbey and usually it takes a bit longer. I know it's a full week when I pay my CC that way. Just can;t believe OH is so dim when it comes to bills... his own CC is the only one he has to take care of on his own!!!

inmypocketnottheirs

Let him cop a few 'late payment charges' to see if he learns his lesson!

wyebird

They seem to credit your account the day it clears you bank if you pay by cheque i.e. gets to them by tuesday, out of your bank Thursday, shows as cleared Thursday, when you check on Friday.

pennypitstop_2

Cheers all. Guess we'll find out next statement what went through, when and what the charges are... My beedy eye will be checking the post!

stokegal

If it's the first time that he has paid late call them up and play dumb. Say you transferred it before the date. They are normally pretty good (at this at least) at offering to pay either half of the late fee or if you push it a bit more they'll refund all of it... only if you say that you have learnt your lesson and you promise never to do it again... I have mine refunded at least 3 times now

CLAPTON

suggest he sets up a DD so he can't forget again

inmypocketnottheirs

CLAPTON wrote: »

suggest he sets up a DD so he can't forget again

Absolutely. You could set up a DD to pay just the minimum. You can then make extra payments should you wish to do so.

HTH

Chris2000

inmypocketnottheirs wrote: »

Absolutely. You could set up a DD to pay just the minimum. You can then make extra payments should you wish to do so.

Some of the banks are wise to this and use a sneaky trick to catch people out. They will reduce/cancel the direct debit if they receive a non-DD payment 4 or more days before the due date. So if your extra payment arrives too early, the DD for the month gets cancelled and you end up paying interest because you paid off less than the full balance.

Lloyds TSB are particularly sneaky. They say on the back of the credit card statement that you should allow 4 working days for an online payment, but in reality if you pay from a Lloyds current account it takes 0 days. So it's very easy for the extra payment to arrive too early.

missk_2

pennypitstop wrote: »

Hope someone may help on this, I had a look at the other threads but this problem was not specifically covered I don't think

My hubbie has a Capital One credit card and needs to make this months payment before the 28th. It says on his bill that the last day to pay would be the 21st. He looked at the '28th' date and messed up, hasn;t paid it yet :mad: .

Is there any way he can get a payment to reach his CC account before the 28th? It looks like internet banking, paying cash in the bank etc all take too long to clear. Does anyone know of a solution? Would be really helpful if you guys could come up with something!

Ta

Penny

Hi Penny
Sorry to crash your thread but are you saying that paying in cash over the counter at a bank /post office is not the quickest way to pay? I've just had a very similar issue myself and the deadline for payment is 27 June - tomorrow. I just 'assumed' paying cash was the best option! So now I'm kicking myself if that's not the case...

Do you know how long cash takes to reach the CC account?