Just paid off credit cards. Do I need to cancel Direct Debits?

ChasingtheWelshdream

Good afternoon, I'm hoping you can help.

I have just cleared the balance on two credit cards as the 0% is ending. I had Direct Debits paying fixed amounts - more than the minimum payment. Do I need to cancel these or will the card company automatically cease requesting payments as there is now a nil balance? I assume payments would stop if they were set as minimum or complete balance DDs,  but I'm unsure if this is the same when the DD is set for a fixed amount.

Could anyone advise please? I can't see any reference  my banking apps and the phonelines have very long waiting times. 

Thank you in advance!

bradders1983

It really depends if you are with a card provider who will still take the DD regardless of full balance being paid, or its too late to stop the DD being processed.

If you arent using the cards again, no harm in cancelling.

Mickey666

Might be worth converting the DD to clear the card each month.  That way, they definitely won't take anything on a zero balance and if, perchance, you do use the card you can be sure that it will be paid off before incurring any interest (assuming enough funds in the linked bank account).

born_again

Just change it to Min or full.
In theory it should not take any funds that put the account in credit, but it is possible...

ChasingtheWelshdream

Thanks both. The statements were only released this week so I don’t think it would be too late to amend. Good call on changing them to clear the balance just in case.

This is a wonderful place - thanks all! 

born_again

If you have just received the statement. Changing it now should/will be in plenty of time. Usually start the process around a max of 10 days pre payment date to collect any funds.

ChasingtheWelshdream

Thank you, I have now changed them to clear the balance. :-)

jonesMUFCforever

I agree - do not cancel the direct debits. They will be required to claim the residual interest next month.