How long to set up Direct Debit?

lydriver

long story short....


applied and was accepted for a new credit card


set up Direct Debit on the 10th assuming it would be fine for the first payment due on the 28th and forgot about it....received a late payment for missing a payment on the 28th



admittedly I didn't read the email confirming the DD had been set up but after reading it does say...

You will receive confirmation on your statement when your Direct Debit has been successfully set up. As it can take up to 30 days to set up the Direct Debit, please continue to make your monthly payments to your credit card until then.

have I just overlooked this or is 30 days (18 in my case) ridiculous to set up a direct debit?

YorkshireBoy

The DD has to be set up BEFORE the statement is produced. It's the same with all cards.

BoGoF

Until you get a statement stating that your payment will be collected by DD then you should always pay by alternative method.

Dobbibill

Confirmation of the DD being set up and the date it will take the funds is normally on the statement.

As it's a new card/first offence, I would give them a ring and explain your error - some are generous to refund the late payment fee first time when asked nicely.
You don't say in your post but hopefully you've now made the payment manually too for this due date.

Nebulous2

Pay quickly, apologise profusely, and they may well refund the fee and reinstate any promotional rates.

Fight about it and that is less likely.

PRAISETHESUN

It's supposed to take 10 working days to set up a DD mandate, but it can take longer. For most credit cards the DD mandate will not be set up until after the first statement has been issued (ie. to take effect for payment for the second statement onwards). They typically mention this when you set up the initial DD mandate.

Pay the balance in full if you haven't already. If you talk to the provider and apologise, they may be lenient considering its the statement and refund the fees/reinstate any promotional rates, etc.

lydriver

ah well...an oversight on my part, if a DD was set up when applying for a card would that mean the 1st payment would definitely be by DD?
I always set up a DD/recurring payment so things like this don't happen...I must have left it until after applying in this case
Had other CC's and not had this happen..maybe just lucky with statement/transaction dates in the past?


will the 'late payment' show on any credit rating/score?

Willing2Learn

Assuming you have now paid the amount due, I would ring them up, explain how you made the error with your DD, which led to the late payment. Be super polite, ask nicely, can they not mark your file with a late payment marker, that it's a one-off and won't happen again, then there is a chance they could agree not to do so.

YorkshireBoy

lydriver wrote: »

ah well...an oversight on my part, if a DD was set up when applying for a card would that mean the 1st payment would definitely be by DD?
I always set up a DD/recurring payment so things like this don't happen...I must have left it until after applying in this case
Had other CC's and not had this happen..maybe just lucky with statement/transaction dates in the past?

You need to set up the DD at least 10 working days before the first statement date.


Personally I set mine up during the online application itself, or at the very latest during the activation call. However, since they stopped pushing PPI and card protection policies, many of the activation systems are now automated to the application approach is the best.