DD, how far in advance is it "set in stone". Tesco CC?

Sea_Shell

If my next DD is due to go on the 6th September, minimum payment (0%), at what point would a payment stop the DD being made?

Paperwork states a payment before the due date "may" amend the DD.

I just wondered what the timescales are?  Anyone know?  Is it generic to the DD system or does it differ between providers?

I want to pay it all off as the 0% is ending October, but don't want to accidently put the card in credit.

eskbanker

I don't know the answer but couldn't you just amend the DD now to take full payment?

Sea_Shell

eskbanker said:

I don't know the answer but couldn't you just amend the DD now to take full payment?

Yes, I could do that.   Would that override the statement about to be generated any day now, which will show "minimum" payment to be collected?

And obviously move money in anticipation of the DD, rather than make a debit card payment from a different account.

funkycredit

With Tesco it's around 5 days. So pay more than your DD amount (% or £25 on foundation) and the DD won't collect that month. 

Easiest way, if you're clearing it, Is to pay the whole balance minus the minimum amount due by DD and a day after the DD date if it's not been taken, pay it off manually. That's how I do it but in reverse - let the DD take minimum so I never forget, then I login before new statement date and clear it to avoid interest. 

molerat

I know that payments and refunds prior to around 5 days before dd date will reduce the full payment dd.  I changed my dd bank details after a statement was produced and wasn't sure what would happen so made a bt payment of the minimum on 20th and minimum dd was still taken on 7th.  It would be far easier to wait until after the dd was taken.

sourcrates

Most companies state payments take 48 hours to credit your account, so if your DD is due within 48 hours of payment, it may be too late to stop it going out as well.

If its more than 48 hours, usually the DD is not taken, but it does depend on each individual companies own internal procedures.

surreysaver

It normally says on the statement whether additional payments reduce the direct debit or not, and how far in advance any additional payments need to be in order to do that. 
Each credit card is different 

Sea_Shell

Thanks everyone.

I shall probably let the DD come out as normal, but then make a manual payment, that day for the full balance, less the collected DD and less another £1.

That way, I should get one last statement generated around the 11th September, showing that final £1 which will automatically get collected in full.

I'll technically lose a month of interest free, but I don't want to sail that close to the wind!!

I would have balanced transferred it again, but since giving up work (early, early retired) I don't have ANY income to apply for another card, so I doubt I'd be accepted for any of the best deals.

Shakin_Steve

If you set your DD to minimum amount, self explanatory. If you set it to last statement balance, any payments will reduce the amount that is taken. If you set it to a set amount, e.g. £100, it will take that as well as any payments you make, or an amount up to £100 to reduce your balance to zero.

If your set amount is less than the minimum payment, the minimum payment will be taken. If your statement balance is less than your set amount, and you don't spend any more,  it will only take the statement balance.

Sea_Shell

Well that worked out nice and simple.    I waited until the 6th for the minimum payment DD to go out as normal, then made a payment for most of the remaining balance by debit card, which cleared the next day, leaving all but £3 as the balance.   

They've now generated a new statement with the £3 balance, which will be taken as the minimum on the 6th October, leaving £0 balance in time for the 0% deal expiry on 10th October.