PLEASE HELP best use of credit building cards

Candyapple

Gettingthereslowly25 wrote: »

Thanks for all the replys guys! I've looked closely at my statement and they get produced on the 8th of the month and my payment comes out on the first I think this is where in going wrong!!?

Have you not bothered reading any of the replies? You've been told several times that you need to change your direct debit to take the FULL payment monthly, not just the minimum payment. Also any payments you make after your statement date will be rolled forward onto the next month's balance which shouldn't make a difference if your DD is set to clear the balance monthly thus incurring no interest.

Mattygroves2

Gettingthereslowly25 wrote: »

Thanks for all the replys guys! I've looked closely at my statement and they get produced on the 8th of the month and my payment comes out on the first I think this is where in going wrong!!?

So the balance that is showing on your statement dated 8th February will be cleared by the direct debit that is taken on 1 March and so on.

So long as you have set the direct debit up to take the full amount you shouldn't get charged any interest.

What you do need to be aware of is that if your 8th February statement is showing a balance that is close to your credit limit you can't spend any more money on that card until after your payment on 1 March.

Dr._Shoe

What you're doing is spending money after the "statement date" thus leaving a small balance on your card. I'm assuming that the statement date/DD date correlation was "automatic"? (i.e. set up by the companies themselves).

My advice is to reduce the amount you spend on the cards if you can and to stop using them by the 25th of each month because it can take a couple of working days for spends to be posted to the account. Otherwise you could incur interest with some cards.