Santander 123 Credit Card

Zola.

I got the new 123 credit card for its seemingly nice perks of cash back on diesel, shopping etc a couple of months ago.

I have never really used a credit card up to now at all, except when booking holidays.. I was happy enough shopping with my debit card for everything and then tracking the spending with online banking etc.

When setting up I asked specifically for the amounts owed to be paid back at the first opportunity. I have been using this card here and there. The amount is building up gradually from a few weeks fueling the car etc.... but I have learned that the billing date is some 56 days later?

I would much prefer if all the money owed from the buying month to be taken out at the start of the following month, rather than in the middle of a month 56 days later.

is it possible to change this?

[Deleted User]

No. A feature and benefit of credit cards is the interest free period ( assuming you pay off in full).

You spend for a month, then receive a statement with a due date of 3 weeks or so in the future.

You are of course free to make manual interim payments if you prefer.

bengal-stripe

The billing date is once a month. Approximately 30 days after you have opened the card, you will receive a statement, listing all your purchases during that period. Subsequent statements will be raised at the same date each month (give or take a day or two).

The statement will tell you at what date your payment must have credited to your account (some 25 days after statement date). You don't have to wait with your payment until this date, but can pay earlier (if you want to). Although you can make additional payments after you have spent the money and before the statement has been issued, it is generally considered not a good idea. If you pay all purchases before the statement, you statement will list month after month nil, nil, nil.

Wait for the first statement (either on-line or in paper format) and pay what you owe. That will get you a very good credit reference as you demonstrate you can handle debts. Keep the money in an interest-paying account until needed, that will make you a few quid.

Terry98

Just had a look on-line at my account and it appears my first statement was produced a couple of days ago.

I am underwhelmed.

Why didn't they send me a message that my statement is ready like most other cards do?

Why don't they break down the cash back? If they have different rates depending on product/supplier surely they should break down the cash back. There is no mention of the cash back on the statement it only shows the total cashback at the top of another page.

Why don't they give the payment date? They say the date of minimum payment but I have to go to the Direct Debit details to see if the minimum payment still applies.

Archi_Bald

Terry98 wrote: »

Why didn't they send me a message that my statement is ready like most other cards do?

I get texts a few days before payment is due. I think I set this up in "Account Services". They offer alerst for the following on the card:

• Alert me when a high value payment is made on my credit card.
• Alert me before my credit card bill is due to be paid.
• Alert me when the amount available to spend on my credit card falls below a certain amount.
• Send me my closing balance from my last credit card statement.

Terry98 wrote: »

Why don't they break down the cash back? If they have different rates depending on product/supplier surely they should break down the cash back. There is no mention of the cash back on the statement it only shows the total cashback at the top of another page.

My cashback is broken down into 1, 2 and 3%.

Terry98 wrote: »

Why don't they give the payment date? They say the date of minimum payment but I have to go to the Direct Debit details to see if the minimum payment still applies.

I can see the payment date and minimum payment all over the place....
Here for example:


Or here:

Terry98 wrote: »

They say the date of minimum payment but I have to go to the Direct Debit details to see if the minimum payment still applies.

What you say makes no sense. If you haven't paid anything from the current statement, the minimum payment will be taken at the next payment due date. That's how all credit cards work.

Gizmo247

If all you are asking is:

"Can the statement date be moved so that the payment date (25'ish days later) is taken at the beginning of the month?".

The answer is:

"Yes, it can."

Just ask your credit card provider. It will take two statements to move it to avoid customers exploiting this to extended the payment date when short of cash.

That's as close as you are going to get.

Terry98

Archi_Bald wrote: »

I get texts a few days before payment is due. I think I set this up in "Account Services". They offer alerst for the following on the card:

• Alert me when a high value payment is made on my credit card.
• Alert me before my credit card bill is due to be paid.
• Alert me when the amount available to spend on my credit card falls below a certain amount.
• Send me my closing balance from my last credit card statement.

My cashback is broken down into 1, 2 and 3%.




I can see the payment date and minimum payment all over the place....
Here for example:


Or here:



What you say makes no sense. If you haven't paid anything from the current statement, the minimum payment will be taken at the next payment due date. That's how all credit cards work.

Thank you very much for your help.

I have now set up Alerts which will be very useful.

Still cannot see the cashback breakdown....there is definitely nothing showing near the Transaction Summary like yours although at the top of one of the pages is

1|2|3 Credit Card earnings
In the last 31 days you earned £?.?? and your total since account opening is £?.??.

Because Santander don't give you cashback on everything spent why don't they show the cashback for each item?


My direct debit is set up to take the full balance on the account every month. Barclaycard always tell you when the full balance will be taken. I assume that will be the same as the minimum payment date but until they take the first payment I can only guess that is right!

Cardew

I believe that the on-line statements show the breakdown of cash back, but the paper statements only give the total cash back.


e.g looking at my last 0n-line statement it shows on 16/9/14 1PC cashback £7.05 and 3PC cashback £7.77. That of course is the cashback earned the previous month.


Note. it uses 'PC' and not %
It also doesn't show total cashback since account opened..


My paper statement for the same period shows only total cashback crediting £14.82.


However it also shows cashback for this month(£10.73) and the total since the account was opened. The £10.73 will be credited next month.