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

grumbler

enthusiasticsaver said:

Why don’t you just set to pay in full for March and from then onwards? 

Because that DD date is later than the date of 0% ending. And if the balance is big, the interest can be significant.

enthusiasticsaver said:

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

It depends. For some accounts, e.g. Barclays with Blue Rewards, it has to be taken, not just active.

grumbler

moneysavinggirl40 said:

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). 

I don't understand this.

To get full 56 days the purchase has to be made right after a statement is produced, not after the payment is credited (not made - to be precise). For the purchase amount to be taken by the next statement DD the purchase has to be made (and statemented) before the statement is produced. Depending on the date, the actual next DD can be for the previous statement, not the next.

moneysavinggirl40

grumbler said:

moneysavinggirl40 said:

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). 

I don't understand this.

To get full 56 days the purchase has to be made right after a statement is produced, not after the payment is credited (not made - to be precise). For the purchase amount to be taken by the next statement DD the purchase has to be made (and statemented) before the statement is produced. Depending on the date, the actual next DD can be for the previous statement, not the next.

Trying understand your reply Grumbler-forgive me but I am confused when to make that small purchase.
May I give you some details so you can reply using the context?

statement date is 26th FEB
Balance is £23.61
£5 direct debit Minimum payment due by 23 MARCH
0% promotional period ends 29 April

I will get a statement on 26MARCH
with balance of (£23.61-£5) =£18.61
£5 direct debit will be minimum payment due 23APRIL 

Shall I make manual payment on 26.04.23 to pay off balance (£13.61) in full to avoid incurring any interest after 29.4.23?

When do I make small purchase so that it is reflected in APRILS statement so a direct debit is taken for MAY? But as  you know I don't want to incur any interest charge if my 0% promotional period has ended on 29.4.23