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Cancel credit card Direct Debit
Martian2035
Posts: 71 Forumite
in Credit cards
I'd like to pay my Barclaycard credit card bill by debit card this month. However, it is too late to cancel/pause my Direct Debit through the card supplier.
I identified an alternative method whereby I:
I think this should prevent the payment from going through, and my statement will be paid off in full.
However, it will cause the DirectDebit to bounce back to the card supplier.
Is this likely to have a negative impact on my credit card account and/or credit score? Even if the statement is paid in full.
I identified an alternative method whereby I:
- pay the balance by debit card today
- cancel the direct debit from my online banking
I think this should prevent the payment from going through, and my statement will be paid off in full.
However, it will cause the DirectDebit to bounce back to the card supplier.
Is this likely to have a negative impact on my credit card account and/or credit score? Even if the statement is paid in full.
0
Comments
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If they attempt to take the DD and it fails, you will incur a fee. It may or may not appear on your files.0
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Deleted_User wrote: »If they attempt to take the DD and it fails, you will incur a fee. It may or may not appear on your files.
Suspected as much - thanks!0 -
Martian2035 wrote: »I'd like to pay my Barclaycard credit card bill by debit card this month. However, it is too late to cancel/pause my Direct Debit through the card supplier.
Why don't you move the money from the account with the said debit card into the account with the said DD mandate and let it go through as normal.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
Deleted_User wrote: »If they attempt to take the DD and it fails, you will incur a fee. It may or may not appear on your files.
That's simply not true, not even remotely true.
a DD can't fail if it's not active with the bank.
plus as soon as a DD is cancelled with your bank, whatever DD system the card company uses will flag the DD as being cancelled and their automated system won't send out a request for payment, so there will be no payment to have failed, get recalled, bounce or anything else, that is of course if the DD is cancelled before a DD instruction is sent out.0 -
As long as your payment reaches barclaycard by the due date, that side of it will be fine. I know with most banks, if you want to stop a DD/SO, you have to do it by a certain time on the day before it is due.I came into this world with nothing and I've got most of it left.0
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