Forum Home» Credit Cards

Credit card direct debit to be paid on same day as payment due date - bad idea?

New Post Advanced Search

Credit card direct debit to be paid on same day as payment due date - bad idea?

edited 30 November -1 at 1:00AM in Credit Cards
4 replies 1.1K views
bluehydrangeasbluehydrangeas Forumite
130 posts
Fourth Anniversary 10 Posts
edited 30 November -1 at 1:00AM in Credit Cards
I got an Aqua credit card recently and I swiftly set up a direct debit to pay the full balance each month. The direct debit is scheduled to be paid on the same day as the payment due date. I did not choose this date myself as there was no option available to choose the date. I would much prefer if the direct debit was to be paid out as soon as possible after the statement was issued. I am worried that the DD will not pay out in time and I will end up slapped with a late payment fee and interest charges. I can make manual payments in the app with a debit card, but that defeats the object of setting up a direct debit. I find it a smidgeon disingenuous that Aqua (NewDay) automatically sets the direct debit date to be the same date as the payment due date. With Amex the direct debit is paid out 10 working days before the payment due date, which I find ideal. Are my concerns justified?

Replies

Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support