Help with CC Payment!

sourcrates

K80_Black wrote: »

Look. A credit card is intended to borrow money on for short periods of time, and paying it back.
.

Thats what they want you to believe, but if everyone used their cards in this way, the credit card company would make no money from you, they would then go bust, what a useless buisness model that would be.

What they actually want you to do, is rack up as much debt as possible, and only make the minimum payment every month, anyone who carries a balance from month to month will normally pay interest, up to 59.9% in some cases, gone over your limit ? that`ll be £12 please sir, late payment, another £12, up to your limit ?, we`ll just increase that for you.

They want you to spend like these`s no tommorow, they want you to be a late payer, they love those who go overlimit, its how they make their money.

Of course they will never admit to this, they have to be "responcible lenders", its all rubbish, if no one racked up any charges they would simple go out of buisness, fee`s are the second largest source of income for card providers behind interest, then of course there are mertchant fee`s, their third largest source of income.

Credit cards are fine for those savvy enough to use them to their advantage, just a big con to those who don`t, and one of the biggest causes of problem debt in the western world.

CKhalvashi

Ben8282 wrote: »

I am also confused because the direct debit/payment due date for a statement issued 19th or 20th would not be 5th or 6th. As i said something is wrong here.
In the HIGHLY UNLIKELY event that the payment due date for a statement issued on 20th November was 6th December, then if you failed to clear the statement by that date you would have been charged interest as you failed to pay in full by the due date. However there is NO UK issued credit card that I know of that has a payment due date 16 days after the statement date.

My main card (not Aqua) has a statement date of the 10th, due date on the 5th of the following month. This is almost 4 weeks, so I'd be surprised if any card company wanted a payment after 2?

Scrounger

CKhalvashi wrote: »

... I'd be surprised if any card company wanted a payment after 2?

My olde Nationwide Reward cc has a statement date of the 7th and payment due date of 22nd (15 days :eek: ).
[Pays 0.25% cashback though :beer:]

Scrounger

Catslovelycats

OP, did you know that you can set up your DD to clear the full balance each month? Saves you having to remember.