paying balance before statement arrives?

[Deleted User]

robbo990 said:

Deleted_User said:

If you pay it off, your statement will be produced at zero so it looks like you are not using it, defeating the point of having a card in terms of credit history

That is incorrect all spending, payments and balance are shared showing it is being used and repaid.

The CRA report shows the end of month balance every month, for everyone of my cards, showed as paid in full every month or indeed, paid every month above the minimum for promotional rates. not a continual rolling spend, paying the card off will produce a statement balance of 0. What you are describing is not what I see on ClearScore, Credit Karma or MSE Credit Club

cymruchris

Deleted_User said:

robbo990 said:

Deleted_User said:

If you pay it off, your statement will be produced at zero so it looks like you are not using it, defeating the point of having a card in terms of credit history

That is incorrect all spending, payments and balance are shared showing it is being used and repaid.

The CRA report shows the end of month balance every month, for everyone of my cards, showed as paid in full every month or indeed, paid every month above the minimum for promotional rates. not a continual rolling spend, paying the card off will produce a statement balance of 0. What you are describing is not what I see on ClearScore, Credit Karma or MSE Credit Club

You can see the extra detail on both MSE Credit Club and Capital One Creditwise when logged into an internet browser - On MSE you have to click 'more details' - but on Creditwise it's there from the off.

Here's one of my card histories from MSE as shown there - the columns don't quite line up -you can see my previous balance (last statement) and payment where mostly they align (paid in full) but you'll notice that one balance is £1156, and my payment is £2312 - that's a month where I spent a lot (For the rewards) and then paid it off as I was going along. So they definitely do have the data of what you're paying compared to what your statement values are - even if they're choosing not to show you in some of the CRA apps like Credit Karma:

This is a shot from the same card on Capital One's Creditwise - as you can see lots and lots of data and detail (you don't need a capital one card to use credit wise - it's free like the others):

Alex9384

Ebe_Scrooge said:

Yup, as discussed in this thread : https://forums.moneysavingexpert.com/discussion/6405723/credit-card-company-have-double-dunted-my-current-account-balance-fees-incurred#latest

If you make a manual payment more than about 5 days or so before the DD is scheduled then the DD amount will be reduced accordingly.  If it's within about 3-4 days of the scheduled DD, then the DD amount will be based on the account balance before you made the manual payment.

Actually, it also depends on your direct debit settings. For example, I set up a DD for fixed amount of 125 on my Lloyds CC. I paid 125 manually and they still wanted to take 125 by direct debit. On Barclaycard, I set up a DD for minimum payment. I pay manually an amount that is higher than the minimum payment and the monthly DD is always reduced to zero, so Barclaycard DD is actually never paid. On Amex, I set up a DD for full payment, but I pay most of the balance manually (for Halifax Rewards) leaving just a few quid remaining, which is then taken by the DD.