Lloyds Ultra Credit Card

vernall

EarthBoy said:

vernall said:

Thanks

i knew I hadn’t imagined it

this is what it shows for me though

That says your statements will show how much cashback you've earned, but it doesn't say that's it's paid every month.  It's saved up and paid in January, so it only reduces the January balance.

Ah i see, I just presumed it would be paid out via some method. I am guessing if Jan statement balance is zero, I will be in credit then if they pay the cashback

vernall

Just so as I get this right… as I have Martin in my head saying ‘Pay Off IN FULL’ lol

for example, if my statement balance was £500 with a payment date of 28th and I am still spending on the card so the balance is increasing, to maintain 0% - do they need to receive a payment of £500 by 28th or do I need to make a payment to get it to zero by 28th? 

Gandalf644

vernall said:

Just so as I get this right… as I have Martin in my head saying ‘Pay Off IN FULL’ lol

for example, if my statement balance was £500 with a payment date of 28th and I am still spending on the card so the balance is increasing, to maintain 0% - do they need to receive a payment of £500 by 28th or do I need to make a payment to get it to zero by 28th? 

It is the monthly statement balance which needs to be paid in full and on time. So if your statement says £500, that is the amount you need to pay off to avoid paying interest (unless you are on a timed 0% deal which the Ultra doesn't offer, which is when only the minimum needs paying every month). 

If you have uncleared or pending transactions not showing on the statement, they will appear on next month's statement, which in turn needs paying off in full by the due date and so on. 

vernall

Gandalf644 said:

vernall said:

Just so as I get this right… as I have Martin in my head saying ‘Pay Off IN FULL’ lol

for example, if my statement balance was £500 with a payment date of 28th and I am still spending on the card so the balance is increasing, to maintain 0% - do they need to receive a payment of £500 by 28th or do I need to make a payment to get it to zero by 28th? 

It is the monthly statement balance which needs to be paid in full and on time. So if your statement says £500, that is the amount you need to pay off to avoid paying interest (unless you are on a timed 0% deal which the Ultra doesn't offer, which is when only the minimum needs paying every month). 

If you have uncleared or pending transactions not showing on the statement, they will appear on next month's statement, which in turn needs paying off in full by the due date and so on. 

That’s what I was thinking, just wanted to make sure, thank you