Paying Catalogue monthly payment with my credit card

polkadot

I'm still getting the hang of all this money juggling and debt repayment so please be gentle.

The question I want to ask is: Can I use my Lloyds credit card to make my monthly repayment on my Fashionworld Catalogue Accout?

The reason I want to ask the question is: I use my online banking profile page a bit like the purse system. I have a number of different current accounts and savings accounts. Im my profile, they each have a nickname relating to an area of my life...direct debits, household, kids school money, petrol etc.

A few months ago I started challenging myself to spend less petrol than I allow in my budget and pay the difference to my credit card, I have been successful most months (mostly as I've been very ill and haven't used the car as much as usual) and my credit card is looking much healthier as a result.

One of my debt downfalls though (my biggest) is my Fashionworld Account.

The minimum payment date changes each month depending on the statement date and because I make my payments once a month, I've missed the due by date in some months and been charged a fee and in other months I'd make two payments as my paydate has overlapped. (I'm trying to make it sound understandable, but I struggled when I called Fashon world to explain to me where I was going wrong.

My balance is around £1900 with a minimum payment of £110. Last month I had one of those problem months and my minimum was £200.

I know what I did wrong, I should have held the money back until the due date. So I've just redone my budget spread sheet and found I don't have enough "purse pockets".

Now I'm considering putting my minimum payment amount in the credit card on my paydate (+the minimum payment for the credit card too.

If I do this, will it be like any other transaction or will I be incurring charges for a service like balance transfer?

DH has just had a new credit card with the intention of using a portion for myFashionworld. He is now saving it for few months now as I was assessed from DLA to PIP and they downgraded my mobility. DLA cancelled my motability contract but PIP wanted the car back. Motability let me keep the car pending the reconsideration, which found that I should be on Enhanced, but now there is a period of unpaid contract for which they may bill me personally. Once we know for certain that this won't be the case, we can do the balance transfer.

CLAPTON

polkadot wrote: »

One of my debt downfalls though (my biggest) is my Fashionworld Account.

The minimum payment date changes each month depending on the statement date and because I make my payments once a month, I've missed the due by date in some months and been charged a fee and in other months I'd make two payments as my paydate has overlapped. (I'm trying to make it sound understandable, but I struggled when I called Fashon world to explain to me where I was going wrong.

My balance is around £1900 with a minimum payment of £110. Last month I had one of those problem months and my minimum was £200.

I know what I did wrong, I should have held the money back until the due date. So I've just redone my budget spread sheet and found I don't have enough "purse pockets".

Now I'm considering putting my minimum payment amount in the credit card on my paydate (+the minimum payment for the credit card too.

If I do this, will it be like any other transaction or will I be incurring charges for a service like balance transfer?

you need to make a payment AFTER the statement date and on or before the 'payment' date.

polkadot

CLAPTON wrote: »

you need to make a payment AFTER the statement date and on or before the 'payment' date.

I do understand this, but I hadn't been aware that the statement date moves for this company. So it could be the 15th of one month and then the 25th of another month (I have even seen it on the 13th of a month).

This is why I need to put the money aside when I get my pay on the 28th of the month.

CLAPTON

polkadot wrote: »

I do understand this, but I hadn't been aware that the statement date moves for this company. So it could be the 15th of one month and then the 25th of another month (I have even seen it on the 13th of a month).

This is why I need to put the money aside when I get my pay on the 28th of the month.

can you not set up a direct debit for the minimum amount and then pay extra when you can afford it?

polkadot

I would have preferred this method but I don't see how a direct debit would work when the statement date changes as it does.

DH has just said he will pay it off with his credit card next week and we'll just have to work out what to do about motability when we hear from them.

grumbler

polkadot wrote: »

The question I want to ask is: Can I use my Lloyds credit card to make my monthly repayment on my Fashionworld Catalogue Accout?

https://www.fashionworld.co.uk/shop/policies/policiesView.action?finalTarget=policies_payment&decoration=true

Yes, you can, but, unlike for DD, I don't think they offer automated CC payments, so you have to do this manually.

polkadot wrote: »

I would have preferred this method but I don't see how a direct debit would work when the statement date changes as it does.

DD date changes automatically, but you must have money in your current account for it not to bounce. If it does, the bank as well is likely to charge you for this.

stclair

Fashion World statements are generated every 28 days.

So the other option would be to set up a standing order to debit your account 4 weekly.

You could use your credit card but you would have to make the payment manually.

CLAPTON

polkadot wrote: »

I would have preferred this method but I don't see how a direct debit would work when the statement date changes as it does.

DH has just said he will pay it off with his credit card next week and we'll just have to work out what to do about motability when we hear from them.

it will be the company's responsibility to take the DD on time and not yours.

polkadot

Thank you for all your replies. I have used all the information to decide what I'm going to do. I knew I'd be able to figure it out if I asked here. It's very much appreciated everyone :beer:

cheesetoast

A thought - Fashion World will be charging you 57.8% APR on whatever you owe them. Is it worth seeing if you can transfer this to a credit card all in one go somehow? Surely you'd save a whack in interest.