Lloyds credit card HELP needed

scottyboy84

Hi all, hope somebody can help, right I’ve recently taken out a Lloyds credit card, i’ve set up a direct debit to collect my payment from 11th of each month starting this month, I’ve been a bit silly to a certain extent and used my credit card to bet on footie, I’ve deposited at least 20 times since getting my card and withdrawn a fair bit to the point I am now in credit with my card, I am about £500 above my credit limit, now my question is I won’t be using my credit card to bet any longer however on my transaction list it is showing all my transactions, the monies I’ve won that have been paid into my credit card account and then cash fees for every bet I’ve withdrawn, some of these are like £6, £8, £3 and so on, theres about 25 of them in total.

My question is the fact I’m in credit with my card, if I was to withdraw the £500 Im in credit, when it comes to my payment on the 11th, will I be paying £0 as I’m going to be neither in credit nor in debt with my card, or will the cash fee charges that are on my transactions list have to be paid ?

I’m concerned that the cash fee transactions will be due but somebody told me if they’re in trasactions list and balance still showing in credit then these have been accounted for ?

Thank you

eskbanker

I don't understand what you mean by being both in credit and over your credit limit at the same time, but it won't directly affect the fact that if you've set up a direct debit to pay your balance in full (and it's active from this month's statement) then the full statement balance will be collected from your bank and paid to the card next week, regardless of what the balance is at the time of payment.

dresdendave

scottyboy84 wrote: »

I am now in credit with my card, I am about £500 over my credit limit,

As pointed out by previous poster, the above does not make sense, please can you explain.

scottyboy84

Sorry I mean I'm £500 above my credit limit, my credit limit is £1200 and I have £1700 showing as credit, hope this helps.

jonesMUFCforever

You are still not clear to be honest - is your card in credit by £1700?

Is that the actual statement balance?

If so; no monies will be taken by the direct debit as you do not owe anything.

Do not withdraw the money from an ATM but phone them up and ask them to credit your bank account. You will then avoid any cash advance fees.

Finally, the way you have been using the card is probably hurting your internal credit scoring within Lloyds banking group (and going forward possibly MBNA) so don't expect them to increase your limit anytime soon.

Shakin_Steve

So...your credit limit is £1200 but you have an available balance of £1700. Credit card companies frown upon this and, as has been said, if you continue this behaviour you may find your card is cancelled.
Why won't you be using your card to place any more bets? Because of the fess or because you have 'seen the light'? By the sound of your post, gambling is the only thing you've used the card for.

Always remember...credit card companies like to lend you money, they're not so keen on you lending them money.:D

Dobbibill

scottyboy84 wrote: »

I’m concerned that the cash fee transactions will be due but somebody told me if they’re in trasactions list and balance still showing in credit then these have been accounted for ?

Thank you

The cash fee transactions will have been accounted for in the available credit balance. The interest charges won't have been, these will be calculated on your statement.