Late Credit Card payment (?) Lloyds - have I messed up?

seabass90

Hi all, over the last few months I have desperately been trying to improve my credit rating in preparation for applying for a mortgage. I've settled lots of accounts, paid off my overdraft and reduced my planned overdraft to just £100. I'm saving a good proportion of my annual income and I just got paid on Monday so my bank balance is healthy at the moment.

I use Lloyds (debit and credit) and have been trying to use a Lloyds credit card lately to improve my credit score further. I think I may just be shooting myself in the foot, though!

I use the Lloyds banking app on my iPhone regularly. When I look at my credit card account on that app, it currently says:

£450 (balance)

Statement balance N/A
Minimum payment N/A
Due date N/A
Transactions since: 8th.

Today, purely by coincidence, I logged onto Lloyds on my laptop which has more information on it. E.g. it says 'Next statement date: 8th December'. However, to my horror, it also says 'Next payment date due: 3rd December, Statement Balance: £178, minimum payment due: £5.00'

I immediately panicked and thought what!?!? So I paid £178 from my debit account immediately at around 9.20pm. However, this has yet to come off my credit card total as it still reads £450. I then read on their website that it's safer to pay a few days before the 'payment date' because it can take a while to clear (i'm hoping to god that it's quicker as i've paid from a Lloyds Debit account to a Lloyds credit card!?).

I rang Lloyds immediately and explained my concerns. The man I spoke to told me not to worry, he would waver any charges or fees incurred. I asked if this would affect my credit card rating and show as a late payment but he said no it would not as he has wavered the charges.

This seems a bit too good to be true though, any thoughts!? I will be setting up a direct debit in future to avoid this sort of panic! Thanks!

Dobbibill

If you log back in and check your available amount to spend on your Credit Card it should now say a different amount, taking into consideration the amount you've paid.

This is not guaranteed but normally will go over and impact the available credit within 2hrs. You are better to go with the direct debit from now on though.

HTH

[Deleted User]

Relax. The payment will get there in time.

And yes, set up a full pay DD.

seabass90

Dobbibill wrote: »

If you log back in and check your available amount to spend on your Credit Card it should now say a different amount, taking into consideration the amount you've paid.

This is not guaranteed but normally will go over and impact the available credit within 2hrs. You are better to go with the direct debit from now on though.

HTH

Thank you - I never thought to check the 'available credit' which has of course changed (gone up) since I paid the £178 an hour ago.

mistakehappens

hello mate

Do NOT worry at all, as i had a similar experience and paid the payment even later than you but everything was absolutely fine,
so don't worry and have some sleep as nothing has happened

YorkshireBoy

Getting a DD set up in time for your 8th December statement date might be cutting it a bit fine (although possibly not as both products are with the same institution). For that reason you should check your statement (on your laptop this time!) and ensure it says the payment will be collected by DD. If it doesn't, then be sure to pay by other means...but sooner next time!

saver861

Make sure you tick the right box for the monthly payment too ... i.e. whether to pay the full amount, or the minimum amount due.

Ben8282

I don't think that your payment was actually late, just made at the very last minute. Check the account when it next updates and see the transaction date applied to the payment.
As an aside, I don't actually think that reducing your planned overdraft limit to £100 will benefit your credit rating.

seabass90

Ben8282 wrote: »

I don't think that your payment was actually late, just made at the very last minute. Check the account when it next updates and see the transaction date applied to the payment.
As an aside, I don't actually think that reducing your planned overdraft limit to £100 will benefit your credit rating.

Thanks! Woke up this morning, checked my credit balance- it's still the same I know the available credit balance has changed which makes me feel better, but I was kind of hoping for more!

redux

If you don't set up a direct debit for future payments, set yourself a reminder.

Some credit card accounts offer to send you an email reminder on a date you set. I don't know if Lloyds is one, but you could just do it mentally anyway, conveniently easy in this case at the turn of the month.

chanz4

I got caught out by this app on payments made, and the first time in years got charged a small amount of intrest