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Paying credit card by Cheque

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Comments

  • born_again
    born_again Posts: 21,716 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    jacsll55 wrote: »
    Sorry for not being clear here.
    I just remortgaged and borrowed extra to consolidate debts on credit cards. I have been send cheques to my address for the credit card balances! Thought they will send the full amount to my bank account.
    So cheques are drawn in favour of the CC followed by my card number.

    The figures are taken from my credit report and its almost 2 months old, I have been making regular payments and now the balance is less than the cheque amount, will the credit card refund the excess as I will clear the balance and be in minus figure.

    Thank you

    Ah thanks. Makes sense.

    So they will be expecting to see the acc's closed. I'm surprised that they did not ask for balance and transfer funds themselves.

    TBH. I would get a closing balance on each CC and then go back to who provided the loan and ask if they can transfer direct or send you new cheques with the correct amount on.

    Or I can see a whole new can of worms opening up. Due to putting the acc's in a credit balance. Something that has become a major no no now.
    Life in the slow lane
  • jacsll55
    jacsll55 Posts: 76 Forumite
    Fifth Anniversary 10 Posts
    born_again wrote: »
    Ah thanks. Makes sense.


    Or I can see a whole new can of worms opening up. Due to putting the acc's in a credit balance. Something that has become a major no no now.
    Why? what is wrong by over paying?
  • jacsll55
    jacsll55 Posts: 76 Forumite
    Fifth Anniversary 10 Posts
    Paul_DNAP wrote: »
    MBNA - pay by cheques is by post only.


    You can arrange bank transfers in branch, but not pay cheques.
    I have posted the cheque to MBNA.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    jacsll55 wrote: »
    Why? what is wrong by over paying?

    It's a breach of terms. Normally only an issue with large amounts and done purposefully.
  • born_again
    born_again Posts: 21,716 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    jacsll55 wrote: »
    Why? what is wrong by over paying?

    Against the T/C. You can not put a credit card in a credit balance position.

    They can simply return the cheques on that basis.
    Life in the slow lane
  • jacsll55
    jacsll55 Posts: 76 Forumite
    Fifth Anniversary 10 Posts
    born_again wrote: »
    Against the T/C. You can not put a credit card in a credit balance position.

    They can simply return the cheques on that basis.
    I understand, its not my fault the bank used old figures rather than asking me for a settlement figure/ current balance.
    Only one card I will be over paying by £1440
    Anyway sent them away in post, will update once its cleared or returned, not end of the World.
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