We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

credit card payments

talulah25
talulah25 Posts: 311 Forumite
in Credit cards
I am an additional card holder on my MIL's Barclaycard. She does not use this card so its our debt and we pay it (debt is in her name though obviously). Anyway, my question is we have to make an elec and gas payment by 20th June, half the money (300) will come from my salary on 28th May and the other half will be from my partner's salary on 15th, should I pay this money to credit card and use it to pay bill or should I just withdraw the money and pay it back in on 20th to make payment with DC. Just wondering if paying the extra 600 on top of min payment will lower interest payment for next month even if we then 'spend' it again???

Comments

  • eskbanker
    eskbanker Posts: 38,022 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes, it should - interest is calculated on your daily balance so reducing that balance, even temporarily, will reduce the interest charge.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    talulah25 wrote: »
    ...should I pay this money to credit card and use it to pay bill or should I just withdraw the money and pay it back in on 20th to make payment with DC.
    Withdraw from a CC and pay 3% for this? Can you just pay by a CC instead?
  • talulah25
    talulah25 Posts: 311 Forumite
    grumbler wrote: »
    Withdraw from a CC and pay 3% for this? Can you just pay by a CC instead?

    Sorry I meant withdraw the money from my bank account to keep to one side until my partner is paid and we can pay the full 600 bal to gas and elec
  • redcard
    redcard Posts: 1,563 Forumite
    Part of the Furniture Combo Breaker
    Pay the CC as soon as you can.

    Do we really need a thread for this?
    Hope over Fear. #VoteYes
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    do your gas & electricity provider allow payment by CC (and at no surcharge)?
  • talulah25
    talulah25 Posts: 311 Forumite
    redcard wrote: »
    Pay the CC as soon as you can.

    Do we really need a thread for this?

    1) I didnt ask when I should pay the credit card
    2) Apologies if you think it's a daft question (when you clearly didn't understand my question) but I thought this would be the best place to post it!

    Perhaps in future I'll post a thread about whether to ask a question...would that suit you better???
  • talulah25
    talulah25 Posts: 311 Forumite
    CLAPTON wrote: »
    do your gas & electricity provider allow payment by CC (and at no surcharge)?

    Yes I checked this first, no charge for CC payments
  • pooch
    pooch Posts: 828 Forumite
    talulah25 wrote: »
    Yes I checked this first, no charge for CC payments

    Try this

    http://www.moneysavingexpert.com/utilities/you-switch-gas-electricity

    I'd be extremely surprised if your current supplier & tariff can't be beaten
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.8K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture