How do you pay off credit cards?

mumma2one

This is probably going to sound dumb but I am young and never had a credit card before so please excuse me, but if I sign up for one, at the end of the month how do i pay it off? I take it they send some form of bill.
Do you pay by cheque/cash/direct debit? Can you do it over the phone or is it a slip you take into bank/post office?

I am really confused.

molerat

mumma2one wrote: »

Do you pay by cheque/cash/direct debit? Can you do it over the phone or is it a slip you take into bank/post office?

Usually any or all of the above. Your statement or leaflet you get with your new card will give you all of the info needed.

sicker

If you don't have an easier way such as home banking, your statement will have a bank giro credit slip attached to the bottom of it. Just fill this in with the amount you wish to pay (at least the minimum as advised on the statement and by the payment due date) and take it to a bank.

John

msmicawber

If you look on the back of your credit card statement, you'll see all sorts of alternative methods listed. If the company has a web site, such as www.aandl.com, then you can register on the web site and pay your credit card bill using the debit card from your current account. That way, the payment registers most quickly, I understand. That's what I do, anyway.

It's important to make sure that you pay in good time to avoid charges, so always allow 5-7 working days for your payment to leave your current account and be credited to the CC account, then you should be well covered. The CC statement will have the due date printed on it.

If you're not the most organised of people, then you could set up a direct debit or standing order from your current account to make sure that you don't forget to pay or to pay in good time.

student100

Or if you are the most organised of people, you could be organised and set up a direct debit so you don't have to fiddle around with other payment methods...

bigstevex

Just make sure you pay the bills and DON'T let your spending get out of hand!!

Its great buying something when you have no money, but you have to pay for it eventually

Stephen_Leak

Whilst buying on a credit card can be good, borrowing on a credit card can be bad.