Will direct debit still be taken?

chelseablue

I've joined the payment a day challenge on here and have been sending payments to my Lloyds credit card every day, resulting in me now having met the minimum payment for this month.

The direct debit is set at £40 a month and is due to come out on 21st August.

As it now says minimum payment is £0.00 will they still take the direct debit?

Just wondering really, if they don't I'll still transfer the £40 to it next week.

PS tried calling them yesterday to ask but gave up after being on hold 20 minutes

20aday

I have a Lloyds Bank credit card and once I've made the minimum payment they don't take the Direct Debit.

chelseablue

20aday wrote: »

I have a Lloyds Bank credit card and once I've made the minimum payment they don't take the Direct Debit.

Thank you. What I'll do next month is make sure there's still some minimum payment to make so they still take the money.

BlondBoy

Check on your statement, chelseablue. On my statement, front page, right-hand side, underneath the account summary stuff it says:

One-off payments received 2 clear working days before the day your payment is due will reduce or stop the Direct Debit from leaving your account for that month.

Worth double checking your particular card, but this is a Lloyds one too.

chelseablue

BlondBoy wrote: »

Check on your statement, chelseablue. On my statement, front page, right-hand side, underneath the account summary stuff it says:

One-off payments received 2 clear working days before the day your payment is due will reduce or stop the Direct Debit from leaving your account for that month.

Worth double checking your particular card, but this is a Lloyds one too.

Thank you, just had a look and yes mine is the same

Ben8282

20aday wrote: »

I have a Lloyds Bank credit card and once I've made the minimum payment they don't take the Direct Debit.

This is correct. The direct debit will not be taken.

chelseablue wrote: »

Thank you. What I'll do next month is make sure there's still some minimum payment to make so they still take the money.

Why?


I suppose it's ok if the purpose is to minimise interest, but making a payment a day is a pretty odd way to manage a credit card account.

jonesMUFCforever

I agree it is an odd way to use the facility - in extreme cases it could lead to the blocking of the account.

takman

chelseablue wrote: »

I've joined the payment a day challenge on here and have been sending payments to my Lloyds credit card every day, resulting in me now having met the minimum payment for this month.

The direct debit is set at £40 a month and is due to come out on 21st August.

As it now says minimum payment is £0.00 will they still take the direct debit?

Just wondering really, if they don't I'll still transfer the £40 to it next week.

PS tried calling them yesterday to ask but gave up after being on hold 20 minutes

If your aiming to pay off your credit card then wouldn't it be better to work out a monthly budget and determine what you can afford to pay. Then set your Direct Debit to that amount each month.

If you have it set at the minimum payment then it will be less and less each month which doesn't really help.

Jaglad111

I repaid my MBNA in full a week before the payment was due as I'm mid-mortgage app and wanted all oustanding credit clear. They still took a payment of £170 via direct debit so now they owe me money, but thats my fault for not reading the t&c's. Each provider has their own terms. TSB/Barclays dont action the DD, others do.