Small balance write off

YorkshireBoy

Ballard wrote: »

Surely not paying in full would incur interest on the full balance.

You would have thought so, yes, but the poster was a regular (and switched on financially) so I'd no reason to doubt them. Of course it might not work these days with RBSG cards, so I'm not recommending it.

Ben8282

I put 5p transaction for plastic carrier bag on my credit card in a supermarket. I didn't have any change and I needed another bag because all the shopping wouldn't fit into the one I had already paid for. It didn't get written off though; it got billed normally.
I agree though that what the OP did was a bit odd but I don't quite get why it was written off.

Dird

They write off any balance below £1 which is why the 30p was written off. I've got it set to pay off in full so it would have if not written off.

~Beanie~ wrote: »

I don't think 30p spending each month will exactly show lenders that you can borrow and be trusted to pay it back each month!

Do they actually see how much you lend each month?

[Deleted User]

Dird wrote: »

Do they actually see how much you lend each month?

Who are you lending to?

knack92

YorkshireBoy wrote: »

You would have thought so, yes, but the poster was a regular (and switched on financially) so I'd no reason to doubt them. Of course it might not work these days with RBSG cards, so I'm not recommending it.

I have a Royal Bank credit card and had forgotten about this. I don't use the card anymore but this did work for me in the last year. I'll try it this month and report back (if I remember).

TheBanker

Dird wrote: »

It has a transaction "Small balance write off".
Not very MSE of you to suggest I give up a 5% discount

It would have been more MSE to put the three bars of chocolate on the Credit Card (90p) and one on the TSB card (5% cashback).

That way your four treats would have cost either 28p or 29p (I am not sure if TSB round up or down when calculating cashback), a saving of at least 92p or a 77% discount.

You could have used the 92p saving to buy another bar of chocolate and two packets of buttons with your TSB card, netting a further 4p cashback.

When TSB pay the cashback you will have enough to buy one sixth of a pack of chocolate buttons (approx 8 buttons). By this point RBS will have written off the original 90p so you can also buy another three milky bars.

I expect the Forum Team to feature this as "tip of the week" :money: