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Legal & money


(6 Posts)
Howjado Tue 18-Dec-12 12:31:27

I have a direct debit set up to pay off my credit card bill in full every month.
The things I purchased in November will not be paid for until early January.
This means my available balance for Christmas shopping is very low.
Presumably, if I go on line and pay for my November goods early, my available balance will go up? Right?
But what happens on direct debit day in January? Will they take money again because I will have December's shopping on my account?

Anne58 Tue 18-Dec-12 13:15:02

Paying early should make your available balance go up, but not too sure about the dd in January. You could always cancel the dd once you have made the early payment, then set the dd up again?

Might be best to ask your card company, just to be on the safe side!

Granny23 Tue 18-Dec-12 13:19:59

Howjado Am I missing something here? Why can you not use the money you have for paying off the Credit Card to make the Christmas Purchases, without putting them on the card? Then your direct debits would not be affected.

Anne58 Tue 18-Dec-12 14:06:39

Now why didn't I think of that blush

Unless Howjado want to use her credit card to give some sort of protection against the goods not arriving?

jeni Tue 18-Dec-12 15:04:45

I've paid off by phone before now and had no problem my card is JL partnership card and you just end up with the direct debit paying off any residual. I used to do it before going on holiday so I'd plenty credit left. They then upped my credit limit so I don't need to!

Howjado Thu 20-Dec-12 15:59:50

I have had a reply back from the bank re: paying off credit card bills early. This information may be useful to others.

"If you pay the full balance off at least 5 WORKING DAYS BEFORE your payment is due, then the Direct Debit will take nothing. However if you pay the full balance off within 5 working days of the payment date, the Direct Debit will take the funds again".