The Lemon Fool

Sorry to ask such a naive question, but I use my Lloyds cc very rarely and I cannot remember how they calculate the date when it has to be paid.

I made quite a big purchase on 12th May and for some reason, expected to receive an email saying that I should pay it off by the 3rd June (the date that an old email gave me, years ago).

I can see all details online, but there is no date for 'repayment/minimum payment required' whatsoever.

Obviously, I have forgotten how this works.

Anyone care to tell me more or less the repayment date? Is it not a fixed date each month?

Thanks!

Steve

Take a look at the statement. Either paper copy or on line. You will find the repayment date there.

Golam wrote:Take a look at the statement. Either paper copy or on line. You will find the repayment date there.

I've spent ages looking. It's not there. On the page, pdf statement as well.

When I went to pay it, the balance outstanding on that page was 0.00. So I assume that I'm trying to pay it too early? A bit confusing.


Steve

I have a Lloyd’s Bank bank account but not a credit card. The downloadable statements for the bank account are nothing more than a transaction listing on Lloyds headed notepaper so it doesn’t surprise me their credit card statements are equally average.

This isn’t answering the question but I have one credit card with HSBC. It’s set up to DD the full amount on payment date but that never happens because I always pay in full before then (I appreciate that will mean I lose a few days credit interest on the cash but the amounts are negligible).

Obviously it depends on how large your purchase was, but I’d be tempted just to pay the full amount off a few days before you think it comes due for payment. I say a few days before so as to prevent you getting caught in a situation where the bank tries to take payment on the due date as a consequence of a time lag between their “payment run” and you paying them.

This FAQ on the Lloyds website suggests there is no definitive answer given you can change your payment due date by request:

https://www.lloydsbank.com/credit-cards ... ement.html

the0ni0nking wrote:I have a Lloyd’s Bank bank account but not a credit card. The downloadable statements for the bank account are nothing more than a transaction listing on Lloyds headed notepaper so it doesn’t surprise me their credit card statements are equally average.

This isn’t answering the question but I have one credit card with HSBC. It’s set up to DD the full amount on payment date but that never happens because I always pay in full before then (I appreciate that will mean I lose a few days credit interest on the cash but the amounts are negligible).

Obviously it depends on how large your purchase was, but I’d be tempted just to pay the full amount off a few days before you think it comes due for payment. I say a few days before so as to prevent you getting caught in a situation where the bank tries to take payment on the due date as a consequence of a time lag between their “payment run” and you paying them.

This FAQ on the Lloyds website suggests there is no definitive answer given you can change your payment due date by request:

https://www.lloydsbank.com/credit-cards ... ement.html

Well, I just spent time going carefully over past statements. Fortunately I keep careful notes of expenses on Excel so was able to find what and when I'd used the card.

Yes, it seems that I was 'jumping the gun' and in fact, I have another month to pay. Shows how rarely I use this card, even though I've had it for at least 25 years.

However, I will pay it now. One less thing to worry about.

Steve

stevensfo wrote:

Golam wrote:Take a look at the statement. Either paper copy or on line. You will find the repayment date there.

I've spent ages looking. It's not there. On the page, pdf statement as well.

When I went to pay it, the balance outstanding on that page was 0.00. So I assume that I'm trying to pay it too early? A bit confusing.


Steve

The payment date is on all the pdf statements for my Lloyds credit card. If you are a Lloyds customer, and pay online, you can specify the payment date.

TJH

tjh290633 wrote:

stevensfo wrote:
I've spent ages looking. It's not there. On the page, pdf statement as well.

When I went to pay it, the balance outstanding on that page was 0.00. So I assume that I'm trying to pay it too early? A bit confusing.


Steve

The payment date is on all the pdf statements for my Lloyds credit card. If you are a Lloyds customer, and pay online, you can specify the payment date.

TJH

Thanks TJH, but after looking at my old statements, I reckon that I was worrying too much and it is simply too early for the payment date to be indicated. In any case, there is no date anywhere. I paid it today anyway. I hate owing money and much prefer debit cards. However I use credit cards for larger purchases where the protection may come in useful.

I have a Lloyds cc, but no bank account. I had a current account with them when I was a student c.1979 when all banks were offering freebies and opening an account was so easy. I guess that after some years, they had a board meeting to discuss me and decided that an unused account with 75p was not sufficient to justify keeping me as a high net worth customer. But I kept the chequebook as a souvenir for a long time.

Steve

PS Same with Barclays (two accounts), Midlands and Halifax building society. Though I still have a very old cash ISA with Halifax. Ye Gods! The hoops I had to jump through just to transfer a small sum from them!

stevensfo wrote:I paid it today anyway. I hate owing money and much prefer debit cards. However I use credit cards for larger purchases where the protection may come in useful.

I have a Lloyds cc, but no bank account.

My Lloyds credit card gives me cashback, annually in January.

OK, it is only 0.25% of what I put on the card during the previous year. But it is something - this past January I got 12 quid. I bought a bottle of wine with it.

I work on the assumption that it is not taxable.

Lootman wrote:
I work on the assumption that it is not taxable.

usual caveats, DYOR ...

https://forums.moneysavingexpert.com/di ... ts-taxable
"A recent Telegraph article said, We put Hargreaves' claim to HMRC. They dismissed it as "nonsense". A spokesman said: "There is no question of tax becoming payable on cashbacks received from credit, debit and loyalty cards or any other kind of cashback payment.""

There is a link to the telegraph article which is paywalled, if one can access it (the escape key trick works though)

Lootman wrote:My Lloyds credit card gives me cashback, annually in January.

OK, it is only 0.25% of what I put on the card during the previous year. But it is something - this past January I got 12 quid. I bought a bottle of wine with it.

I have a Pulse credit card which also pays 0.25% cash back. The only difference is mine is credited monthly and reduces the outstanding balance.