Have I got this right?

Rosylee

I have read so many stories of people losing their promotional rate because they did not realise the direct debit only kicked in after the first statement so I really want to make sure I don't make a mistake. I have received my first statement today and this is what it says:


Pay your bill

Last statement 02 Oct 2015

Statement balance £4,215.89

Minimum payment £94.85

Please pay by 27 Oct 2015


If nothing changes, your Direct Debit will collect £94.85 around 27 Oct 2015.


View Direct Debit



Am I correct in thinking that I don't need to make a separate payment, the direct debit is active and will take the first payment automatically?


Thanks

boo_star

Rosylee wrote: »

I have read so many stories of people losing their promotional rate because they did not realise the direct debit only kicked in after the first statement so I really want to make sure I don't make a mistake. I have received my first statement today and this is what it says:


Pay your bill

Last statement 02 Oct 2015

Statement balance £4,215.89

Minimum payment £94.85

Please pay by 27 Oct 2015


If nothing changes, your Direct Debit will collect £94.85 around 27 Oct 2015.


View Direct Debit



Am I correct in thinking that I don't need to make a separate payment, the direct debit is active and will take the first payment automatically?


Thanks

Yes.

You shouldn't have to do anything else.

MABLE

Rosylee wrote: »

I have read so many stories of people losing their promotional rate because they did not realise the direct debit only kicked in after the first statement so I really want to make sure I don't make a mistake. I have received my first statement today and this is what it says:


Pay your bill

Last statement 02 Oct 2015

Statement balance £4,215.89

Minimum payment £94.85

Please pay by 27 Oct 2015


If nothing changes, your Direct Debit will collect £94.85 around 27 Oct 2015.


View Direct Debit



Am I correct in thinking that I don't need to make a separate payment, the direct debit is active and will take the first payment automatically?


Thanks

It seems sound to me the dd will be taken. But do not take any chances and check with the credit card company.

redpete

MABLE wrote: »

It seems sound to me the dd will be taken. But do not take any chances and check with the credit card company.

As it clearly says the DD will be taken I'd not worry any more. If it does go wrong it is their responsibility.

Consumerist

It is clear that they intend to collect the DD around 27 October. You have that in writing so that's unquestionably their responsibility to collect it.

The amount of £94.85 will be collected if nothing changes - It is likely that if you make an interim payment before the DD is called then the amount will be modified accordingly. Check your Ts&Cs to see how they deal with interim payments. Normally, interim payments received before about 5 working days prior to the DD date will be deducted from the amount called.

chattychappy

MABLE wrote: »

It seems sound to me the dd will be taken. But do not take any chances and check with the credit card company.

The OP has it in writing. The CC is on the hook if things go wrong and the OP has written evidence.

How could, for example, a verbal reassurance from a call centre improve things?

uncreative

Remember doing this will mean that the credit file with the CRAs has a "minimum payment" marker on each payment. If you want to avoid this should you also pay a bit more?

shortcrust

uncreative wrote: »

Remember doing this will mean that the credit file with the CRAs has a "minimum payment" marker on each payment. If you want to avoid this should you also pay a bit more?

I guess it doesn't hurt to be cautious, but I've always just paid the minimum on promo rate cards. I think that a minimum payment marker is pretty harmless when paired with a promotional rate marker.

MABLE

chattychappy wrote: »

The OP has it in writing. The CC is on the hook if things go wrong and the OP has written evidence.

How could, for example, a verbal reassurance from a call centre improve things?

For some one who never uses a direct debit facility I hardly think you are the person to be commenting on the OP posting. :rotfl:

Linda32

My OH has Santander's 123 credit card. He gets a paper statement saying the same sort of thing.

I've told him the same, this is your proof that the DD will be collected, if it doesn't happen its their fault not yours.

In answer to the question, Rosylee, Yes, you have got it right.

Rosylee

Thanks to everyone who replied. I will make sure to call as a belt and braces approach.