end of 0% promotional period- changing from pay minimum to pay in full

My 0% promotional period is coming to and end on my credit card on 29.4.23.  It has a very small balance, and can easily pay off my credit card.

I have been paying the minimum amounts (to satisfy direct debit criteria for bank accounts).

In order to not incur any charges once the 0% promotional period ends, do I have to achieve a £0 balance by 29.4.23? If I set to "pay in full" after this date then will I incur interest charges from 30.4.23?

I would like to know as I still need to satisfy direct debit criteria for a bank account so and early 0 balance isn't ideal. Hope I'm making sense
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  • grumbler
    grumbler Posts: 58,629 Forumite
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    My 0% promotional period is coming to and end on my credit card on 29.4.23.  It has a very small balance, and can easily pay off my credit card.

    I have been paying the minimum amounts (to satisfy direct debit criteria for bank accounts).

    In order to not incur any charges once the 0% promotional period ends, do I have to achieve a £0 balance by 29.4.23?
    I think, yes.

    I would like to know as I still need to satisfy direct debit criteria for a bank account so and early 0 balance isn't ideal. Hope I'm making sense
    Make a purchase straight after paying the balance off? Or just leave £1 unpaid to be taken by the DD. The interest will be very small.

  • Brie
    Brie Posts: 9,816 Forumite
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    I tend to check the balance a couple of days before and pay the balance at that point.  So check on 26.4 and pay that day.  That way no interest charge is possible. The only tricky bit is if your DD is going to be taken on the 29th or thereabouts it will be taken anyways as it will be too late for the bank to stop it.  Some will automatically refund the credit amount, others will wait for you to use it up.  
    "Never retract, never explain, never apologise; get things done and let them howl.”
  • born_again
    born_again Posts: 14,268 Forumite
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    Might just be easier to make a manual payment once you get March statement & cancel the DD at the same time. If you are not going to be using the card.

    What DD criteria is this?
    Life in the slow lane
  • Might just be easier to make a manual payment once you get March statement & cancel the DD at the same time. If you are not going to be using the card.

    What DD criteria is this?
    Yeah that's what I usually do. But the direct debits set to be taken from one of my current accounts to get the perks and waive the fee. Happy to use the card but set it to pay in full, I presume I don't get charged interest if I'm paying in full once the 0% promotional period ends. Or do I accrue interest after 29.4.23?
  • Brie said:
    I tend to check the balance a couple of days before and pay the balance at that point.  So check on 26.4 and pay that day.  That way no interest charge is possible. The only tricky bit is if your DD is going to be taken on the 29th or thereabouts it will be taken anyways as it will be too late for the bank to stop it.  Some will automatically refund the credit amount, others will wait for you to use it up.  
    I checked, and it's usually around 20th of the month when payment is taken by direct debit. 
  • jadex
    jadex Posts: 749 Forumite
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    grumbler said:
    I would like to know as I still need to satisfy direct debit criteria for a bank account so and early 0 balance isn't ideal. Hope I'm making sense
    Make a purchase straight after paying the balance off?

    ^^^ this.

    Just don't spend too much: spend a fiver and you won't need to worry about minimum or full payment as most probably your card terms say that any balance below £25 is repaid in full regardless of how DD is set up.
  • surreysaver
    surreysaver Posts: 4,084 Forumite
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    Have you checked the T&Cs of the card? Some cards adjust the direct debit if you make a manual payment, some don't. What I tend to do is change the direct debit to the full amount to be taken on the date before the promotion period ends to be on the safe side.
    Some credit cards the promotions end on the payment due date itself, so you can adjust the direct debit to the full amount for that date. Depends who your credit card is with 

    I consider myself to be a male feminist. Is that allowed?
  • jadex said:
    grumbler said:
    I would like to know as I still need to satisfy direct debit criteria for a bank account so and early 0 balance isn't ideal. Hope I'm making sense
    Make a purchase straight after paying the balance off?

    ^^^ this.

    Just don't spend too much: spend a fiver and you won't need to worry about minimum or full payment as most probably your card terms say that any balance below £25 is repaid in full regardless of how DD is set up.
    If I make a small purchase on 21.4.22 after paying off in full the day before and this is pay date rather than the end of 0%promtional period.  Am I right in saying, for Halifax cc it's 56days before a payment will be taken, which means in May a direct debit will not be taken as there won't be a balance to pay for May so I'll need to find alternative for dd to fulfill dd requirements on a current account perks  (which I am trying to avoid doing). 
  • Why don’t you just set to pay in full for March and from then onwards? 
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • Also for current account direct debit to qualify it only needs to be registered as active  on the account. It doesn’t need to pay out every month so if the statemen5 balance on the CC is nil it doesn’t matter. As long as you don’t cancel the DD it should be fine. 
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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