Ok to make additional payment to CC during the month?

Johnmcl7

I realise this may be a stupid and obvious question but would prefer to double check in case I make a mistake. I automatically pay my CC every month and use the CC for the legal protection and small amount of cashback, payment is due for last month on Tuesday but I'm close to my credit limit at the moment.

I'm with Barclaycard and they have the option to make a payment although it gives a warning that the scheduled payment will come out anyway which is fine. The amount I'm paying won't put the account into credit either.

Thanks,
John

Willing2Learn

If your balance is close to your credit limit, then there is no problem with making an additional manual payment to reduce the balance.

Johnmcl7

Willing2Learn wrote: »

If your balance is close to your credit limit, then there is no problem with making a payment to reduce the balance.

Thanks for the prompt response.

enthusiasticsaver

Better doing that than risking going over the limit. It is easy enough to do a bank transfer in addition to a monthly direct debit.

Nebulous2

There’s no problem in making payments manually. I have a minimum payment set up on my Barclaycard as a backup, which I don’t think has ever been used because I pay the full balance manually.

femalemonarchfemalecanine

Nebulous2 wrote: »

There’s no problem in making payments manually. I have a minimum payment set up on my Barclaycard as a backup, which I don’t think has ever been used because I pay the full balance manually.

You need to make sure this still 'live' as some DDs 'expire' if not used for a certain amount of time. You'd not want to be caught out thinking you had it in place if it isn't.

blue.peter

Johnmcl7 wrote: »

I realise this may be a stupid and obvious question but would prefer to double check in case I make a mistake. I automatically pay my CC every month and use the CC for the legal protection and small amount of cashback, payment is due for last month on Tuesday but I'm close to my credit limit at the moment.

I'm with Barclaycard and they have the option to make a payment although it gives a warning that the scheduled payment will come out anyway which is fine. The amount I'm paying won't put the account into credit either.

Thanks,
John

No problem. I occasionally do exactly this.

You do, however, need to be careful with such payments made between the date of statement and the DD collection date. I see that you've checked what Barclaycard do, but different card issuers act differently in these circumstances. If you ever have a different credit card and want to make one of these extra payments, you should always check what that particular issuer will do unless you're already aware and comfortable with it. Some (e.g., American Express) will reduce the amount that they collect by DD by the amount of your manual payment. Others might cancel the DD collection altogether, even if your payment is less than the minimum due. In either of these cases, they won't make any change if you're in the last day or so before the collection.

Nebulous2

femalemonarchfemalecanine wrote: »

You need to make sure this still 'live' as some DDs 'expire' if not used for a certain amount of time. You'd not want to be caught out thinking you had it in place if it isn't.

Good point - I check my list of DDs on the bank account it comes from to make sure it is still showing, though whether that means it would work or not I don't know.

I think its very unlikely it will ever be needed. Its a belt and braces type approach. Like the OP I use my Barclaycard because of the cashback, and having to pay interest would quickly wipe that benefit out.

Alexd52

blue.peter wrote: »

No problem. I occasionally do exactly this.

You do, however, need to be careful with such payments made between the date of statement and the DD collection date. I see that you've checked what Barclaycard do, but different card issuers act differently in these circumstances. If you ever have a different credit card and want to make one of these extra payments, you should always check what that particular issuer will do unless you're already aware and comfortable with it. Some (e.g., American Express) will reduce the amount that they collect by DD by the amount of your manual payment. Others might cancel the DD collection altogether, even if your payment is less than the minimum due. In either of these cases, they won't make any change if you're in the last day or so before the collection.

And some will also take the full direct debit irrespective of amount paid manually