Direct debit for credit cards

Egg Card

Barclaycard offer minimum and full monthly amount by DD. Full amount is taken 10 days before "due date". A bit of a cheek, but with interest rates low it's not a big deal, and the automatic DD saves the hassle of having to remember to pay the account each month.

Allan

Eek! Have you seen how "low" Barclaycards' interest rates are?

"Trevor" wrote

LLOYDS do this too.

Also, Cahoot allow three possibilities :- (1) Minimum payment; (2) Full amount; or (3) A regular FIXED amount.

It's always worth asking whether a particular card will do it - even though they may initially push you towards the minimum direct debit only, many seem to allow full payment to be set up if you push them!!

Bitstring , from the wonderful person Trevor said

It is possible with all of them (*), you just have to be persistent about it.

(*) i.e. so far I have never found one that I couldn't persuade to do this .. natwest, Co-op, Beneficial, Morgan Stanley, Capital one, Amex, barclaycard, to name but a few (as you can see, I chased 'no fee' and 'cashback' quite a lot. 8>.)

snipped-for-privacy@widebore.com (Trevor) wrote in news:c2141ca3.0406090200.3d753bc2 @posting.google.com:

You can do this with the Nationwide Visa card.

Joe.

In my experience, most credit cards have this option.

The following certainly do:

HSBC/First Direct Egg Barclaycard Accucard/More Than Capital One Nationwide

and others...

Regards Sunil

Without a hint of irony, "root" astounded uk.finance on

I think he was referring to current account rates...

Without a hint of irony, snipped-for-privacy@widebore.com (Trevor) astounded uk.finance on 09 Jun 2004 by announcing:

I'd have thought all of them, if you actually call customer services. I've certainly never had one where I couldn't do this.

Lloyds TSB create card

Alliance and Leicester do.

"Trevor" wrote

Judging by the number of replies to this initial post, perhaps it would be quicker&easier to list those credit cards which do *not* allow full payments??! ;-)

it is possible with Amex - I have a full balance DD from my current account.

Just call customer services and tell them to amend the direct debit to take the full balance.

Si.

Without a hint of irony, "Si" astounded uk.finance on 09 Jun 2004 by announcing:

And, from experience, don't take their first reply ;-)

I have not come across one with this restriction. In my experience credit cards allow either minimum, full or fixed amounts to be paid by DD each month. Which one restricts the DD to the minimum?

Really ?! Care to list them ?

MBNA allows full payment. I have regularly taken advantage of balance transfer rates so ask them to change between min. & max. twice a year for the last few years. Have had one occurrence when they didn't change it back to max. and they repaid all interest charges accrued plus approx £30 compensation.

Daytona

Wow! Thanks to everyone who replied to my question. I had no idea that this was possible (I was holding on to Amex only for this reason...).

This is pretty standard - although it may be a real struggle to get it to happen - and they may well deny that you can do it.

All of my cards accept this - in principle at least: Goldfish Mastercard (after a _major_ shambles - although now they are part of LTSB maybe it's got better, although knowing LTSB's track record I rather doubt it), HSBC Visa (although they never sent me the DD form despite reminders, so I gave up trying in the end), Egg Visa (as another poster says, no problem there), and Nationwide Visa (again no problem). HTH

A good idea if you always want to pay in full. I overlooked an HSBC payment recently and was charged 15 for the privilege - plus interest of course. (That was about 15% of the amount due. Nice money earner that - and if they had bothered to process my request that would not have happened.) Bad if you exceed your credit limit as well. They used to just increase the credit limit, but these days they either refuse the transaction (embarrassing) or (more likely) hit you with a penalty instead. Although if it's Egg they'll probably offer you such a high credit limit that it would be very hard to exceed it! (See a more recent post by me.)

Brian

Absolutely. Thanks! as in "10 days interest foregone from my bank account on the monthly card bill is not worth the hassle of paying manually". a.k.a "opportunity cost"

Allan