Credit Cards: Can't choose date to pay direct debit?

S

sugark

Guest
Having finally cleared off my credit cards and cancelling the one with the large credit limit (as documented in an earlier thread), I called the other cc company (with a limit of only €1000) to set up a direct debit to clear the full amount every month.

I asked if the direct debit could go out on the first of each month (or, at the very least, some time in the first week in each month) and was told no, this was not possible. The direct debit system would randomly pick a date, which would change month to month.

Am I being cynical in thinking that they will pick a date towards the end of the month when you might not be in funds and therefore chrage you a fine for the DD not going through? Or simply that they won't make money from me clearing my card each month and therefore don't want me to set up the direct debit?

Does anyone know of any credit card that allows you to pick a date to clear the full amount on your card by DD? My plan was that if I set this up I never run the risk of running up a large bill.

If this is the case with all credit cards I guess I'll have to discipline myself to clear it every month.
 
sugark - direct debits are normally run once a month on a more or less fixed date.

Setting that date is up to the direct debit originator (credit card company in this case), but it typically either specified as something like a given date (the 25th of each month) or a relative date (the last Thursday of each month). This means the actual date can vary by a few days if the 25th for example happens to be a Saturday or if the last Thursday is the 31st one month and the 25th another month, but it will always be within a short range.

Of course, the transaction is just an automated transaction and the originator could - if they wanted to - run direct debits every day. There is no real benefit to them to do this, so this is unlikely to happen.

You can set up a standing order to pay out of your account every month on a fixed date of your choosing, but the amount would be fixed, so that wouldn't really suit in this case.

Best bet is to get into the habit of doing your payments online at a given date each month - that way you can maje sure it goes in at a time that suits you and for the amount that suits you.

z
 
Thanks zag, I think that's what I'll have to do. I have a few other direct debits (tv licence, AA, etc.) and they do come out at in or around the same date each month. I just thought it odd that this credit card company said that the date would vary each month and that they could not guarantee that it would be (say) around the 10th of each month (which is when my cc bill is usually due).
 
I had the same issue with O2 when I wanted to pay my phone bill by direct debit on a set day i.e. a couple days after my pay day. I was told by customer support that they can not do this and they could not even specifiy a certain or the same day each month. I was told that I have to have a direct debit as I set up my account online.
 
You must log in or register to reply here.
Back
Top