When will available credit refresh? 25 August 2018 at 10:40PM in Credit Cards 3 replies 1.1K views

Legacy_user

My statement date is 8th but the direct debit does not produce until the 3rd. When will my available credit refresh itself back to normal is it upon the beginning of the new billing cycle or only on receipt of payment?

zx81

As soon as the payment has cleared.

[Deleted User]

What problem?

That your credit isn’t available until funds clear?

T-G-C

Anthonym wrote: »

My statement date is 8th but the direct debit does not produce until the 3rd. When will my available credit refresh itself back to normal is it upon the beginning of the new billing cycle or only on receipt of payment?

The statement date is not relevant, as soon as a payment is credited, whether it be bank transfer; direct debit or debit card, the Available to Spend will increase.

The payment due date and statement date are both important to remember, but not for payments being credited, as these are done so throughout the cycle.

Depending on the provider, it will often refresh on the day of the payment being processed, either in the evening when the account refreshes or in the early morning. For example, Vanquis credit all accounts their processed payments at 22:00 PM daily (excluding weekends and bank holidays).