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credit card question

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  • 13-04-2007 3:18pm
    #1
    eurotrotter
    Registered Users Posts: 1,073 ✭✭✭


    hi guys hope ye are all well.
    i recently got a credit and i got the payment method set to direct debit.
    does this mean that my credit card bill will be paid automatically without any involvment from me?
    i also have a current account with the same bank that issued me with the credit card, if that's of any relevance.
    excuse my ignorance on this one :(
    thanks
    ed


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    #2
    sofireland
    Registered Users Posts: 1,245 ✭✭✭sofireland


    It means it will be taken on the specified day of the month you've chosen from your current account that you put on the Direct Debit Mandate.
    Try pay it off in full each month to avoid paying interest.


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    #3
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    The most basic answer is yes, it will. This is providing your direct debit is set to 100%, which means all outstanding moneys are paid off.

    If your direct debit is set to 20%, then it'll only pay off 20% and interest will build up on the rest.

    I know I'm forever asking questions in here, but it is a good idea to ring up your CC issuer too (number on back of card) and confirm these details with them. They've generally been pretty helpful when I've spoken to them.


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