new card

~Beanie~

Sncjw wrote: »

If I bought something this month like up to the 30th would they want the money on the 30th February or from the start of the month

They will be waiting a while if they want payment on 30th February

SnowTiger

Sncjw wrote: »

Can I be a pain.

If I bought something this month like up to the 30th would they want the money on the 30th February or from the start of the month

I can say with absolute and complete certainty that they would not.

30th February doesn't exist.

Typically, payment due date is three and a half weeks after the statement is produced.

Therefore, if your statement date is 1st of the month your payment due date will be around the 26th.

My Clarity statements are produced on the 3rd of the month with a payment due date of the 28th.

Anthorn

Sncjw wrote: »

ive just applied and been accepted for my first credit card. I chose the clarity card because of the £5 reward and I will be paying the money off in full so I didn't really need the 0% intrest free form purchases.

Anyway my limit is £2000 and want to ask a couple of things.

is that per month and also how does the £5 reward get paid to me. does it get paid into my current account.

It's what we call rolling credit. You always have that amount of credit available.

Swings and roundabouts stuff. Ideally keep the percentage of overall credit no more than 50%. But your lender could reduce the limit because you are not using it.

Swings and roundabouts of clearing the whole balance every month. It means you won't pay interest but your lender won't like you doing that because they are not making any profit from you. They could withdraw the card or increase the APR. But then again maybe they won't do anything at all.

It's a game with well defined rules.

King_Of_Fools

Sncjw wrote: »

Can I be a pain.

If I bought something this month like up to the 30th would they want the money on the 30th February or from the start of the month

Depending on when in your billing month you buy something, you will have between 25 and 56 days to pay. Each month your bill will say when you must pay that bill in full by. Anything you buy after the bill date but before the due date goes onto next month's bill.

Superscrooge

Anthorn wrote: »

Swings and roundabouts stuff. Ideally keep the percentage of overall credit no more than 50%. But your lender could reduce the limit because you are not using it.

Swings and roundabouts of clearing the whole balance every month. It means you won't pay interest but your lender won't like you doing that because they are not making any profit from you. They could withdraw the card or increase the APR. But then again maybe they won't do anything at all.

I'm a bit dubious about the above. But I stand to be corrected if others have found this to be true?

I've had many credit cards where I have used less than 50% of the available credit. I've never had the credit limit reduced.

Also I always pay the full balance unless I have a 0% card. No card provider has ever withdrawn the card or increased the APR. The card provider is still making a profit from the retailer every time I use the card

Sncjw

sorry it was a long day when I posted. thanks il just see what happens

engineer_amy

Superscrooge wrote: »

I've had many credit cards where I have used less than 50% of the available credit. I've never had the credit limit reduced.

Ive often had the credit limit increased when not using my card, alongside a letter saying something along the lines of "we noticed you haven't been using your card much recently, perhaps you will need to make a big purchase in the near future so we have increased your limit to help you out...." almost trying to encourage you to spend. I must have had about 3 of these letters - mainly from Barclaycard.