John Lewis card - payment timing

chesky

I've had my John Lewis card about nine months and don't use it very heavily, so have hardly noticed the details of paying it off every month. However last month I was on holiday and used it frequently. I received the bill yesterday and have to settle it by 5 October. That gives me about 22 days - or less really, since you have to allow a couple of days for it to reach their account. I don't have a huge problem but it's a bit inconvenient and ideally I'd have preferred a bit more time. My other card gives me about five weeks, so why is John Lewis so mean with their time? Is this usual?

bengal-stripe

I've never come across a CC that gives you five weeks between statement and payment-due dates. It's not even possible with monthly statements. Your statement gets compiled, then you have 21 -25 days to pay and 5 or 7 days later your next statement gets compiled.

Your payment (be it partial or in full) must have been received before the new statement as to be reflected in that statement. After all, whether or not you get charged interest in the new statement depends on the payment received.

SnowTiger

chesky wrote: »

I've had my John Lewis card about nine months and don't use it very heavily, so have hardly noticed the details of paying it off every month. However last month I was on holiday and used it frequently. I received the bill yesterday and have to settle it by 5 October. That gives me about 22 days - or less really, since you have to allow a couple of days for it to reach their account. I don't have a huge problem but it's a bit inconvenient and ideally I'd have preferred a bit more time. My other card gives me about five weeks, so why is John Lewis so mean with their time? Is this usual?

Which credit card gives you up five weeks to pay a statement? As most send statements every month (about four and a half weeks), that would leave payment dates and billing cycles out of sync.

Most credit cards offer up to 56 days interest-free credit, as John Lewis' card appears to.

The longest month has 31 days in it.

56 days - 31 days = 25 days to pay statement.

That's usual.

Some cards offer a shorter interest-free period. Aqua is an example. Tesco Bank is another one, however they've recently extended it by a week.

5th October is a Friday. Baring in mind that Faster Payments can take up until the end of the next working day to complete, which will be 8th October, the payment date you've been given is probably reasonable.

Ben8282

chesky wrote: »

. My other card gives me about five weeks, so why is John Lewis so mean with their time? Is this usual?

It is impossible that your other card gives you 5 weeks to pay. If this were true then the payment would not be taken until after the statement for the following month had been generated. Please let us know which card it is that gives you 5 weeks to pay.

Missus_Hyde

chesky wrote: »

I've had my John Lewis card about nine months and don't use it very heavily, so have hardly noticed the details of paying it off every month. However last month I was on holiday and used it frequently. I received the bill yesterday and have to settle it by 5 October. That gives me about 22 days - or less really, since you have to allow a couple of days for it to reach their account. I don't have a huge problem but it's a bit inconvenient and ideally I'd have preferred a bit more time. My other card gives me about five weeks, so why is John Lewis so mean with their time? Is this usual?

Our John Lewis card generates the statement on the first of the month and the payment for the amount on that statement is 27th/28th of the month, giving about 27/28 days to pay. However, the balance on that statement has accrued over the previous month, so I suppose theoretically I could use the card on the second day of the month (after that statement has been generated) and would not pay that amount back until the end of the next month (which is where the 56 days come in).

However, as I pay all our credit cards by DD, I don't tend to worry about it, as the money can be taken on the correct due date, without any problems (providing the CC company uses the DD correctly, which so far John Lewis have always managed to do.)

chesky

OK I did say about five weeks for my M & S card which is probably longer than actually. I don't keep track.

But that's not really what I was posting about. I wanted to know if it's usual to have a statement arrive on 14th of this month and it to be due to be paid with John Lewis by 5th of the next month. If you allow 2 or 3 days (which I do) for the transfer, that only gives 20 days which I don't think is enough notice. The actual statement was dated 11th September and managed to take three days to arrive.
That's what I was querying.

[Deleted User]

It's perfectly normal.