Credit cards and your bank details

Josquin

Long,  long time since I had a credit card.  But thinking of getting one just for online purchases instead of using a debit card. Not interested in any transfers etc etc.

Bit confused.

If you intend to pay back each month everything you have spent that month (not just the minimum etc), do you need to give the credit company your bank details and/or have to set up direct debit?

p00hsticks

You don't have to (at least with the cards I have ) but it's recommended that you set up a direct debit for at least the minimum amount rather than rely on remembering to pay the bill manually each month, just in case you inadvertently forget and end up with a missed payment marker on your record. 

Sarahspangles

Josquin said:

Long,  long time since I had a credit card.  But thinking of getting one just for online purchases instead of using a debit card. Not interested in any transfers etc etc.

Bit confused.

If you intend to pay back each month everything you have spent that month (not just the minimum etc), do you need to give the credit company your bank details and/or have to set up direct debit?

This is the main reason I use a card - I don’t want to give fraudsters my main bank account details either online or on premises where they are wandering around with my card in their machine trying to get a signal.

You don’t have to pay by direct debit but it saves remembering. Some cards (Barclaycard, Nationwide in my experience) will deduct any credits to the account, such as for returns, from the amount you pay by DD. So if you would rather make manual payments but retain the DD as a ‘backstop’ you need to use one of the cards that works this way. 

Josquin

'This is the main reason I use a card - I don’t want to give fraudsters my main bank account details either online or on premises where they are wandering around with my card in their machine trying to get a signal.'

Exactly. The very same reason I wish to use a credit card.

531063

Josquin said:

'I don’t want to give fraudsters my main bank account details 

You've never written a cheque then ?

Josquin

'You've never written a cheque then ? '

Not for a very long time.

Sarahspangles

531063 said:

Josquin said:

'I don’t want to give fraudsters my main bank account details 

You've never written a cheque then ?

It’s a different risk. There is more information on a debit card including CVV, which is enough for some vendors to accept an order. And used online in an insecure site the card data can also be connected to your email address and other data. You only need to have reused your password, say for email, and for this to have been pwned ant some point and the thief has control.

elsien

I used to pay each month when the bill came in, but then I forgot and got hit with charges so now I do a direct debit for the full amount. 

Josquin

elsien said:

I used to pay each month when the bill came in, but then I forgot and got hit with charges so now I do a direct debit for the full amount. 

I see.  

So the amount you have spent that month is  simply transferred automatically and not just the minimum?

A month with no spending at all means nothing transferred via the DD?

I would be happy with that I think.

elsien

Yes, that’s right.

531063

Sarahspangles said:

531063 said:

Josquin said:

'I don’t want to give fraudsters my main bank account details 

You've never written a cheque then ?

It’s a different risk. There is more information on a debit card including CVV, which is enough for some vendors to accept an order. And used online in an insecure site the card data can also be connected to your email address and other data. You only need to have reused your password, say for email, and for this to have been pwned ant some point and the thief has control.

Exactly the same risk as a CC then.