just after some more advice so i maxed my credit card out just before christmas £1500 and got the statement today and it says this statement balance £1,500. minimum payment £33.75 an says your full statement balance of £1500 will be collected by direct debit on jan 22nd does this mean i have to pay the full £1,500 by jan 22nd or can i just pay the minimum payment what happens if dont pay it all by jan 22nd will i get charged heavy i have a 0% interest card an is a 28.2%apr but have used it to gamble which counts as cash withdrawls more or less any advice on this i would appreaciate thanks
From my experience and I have quite a bit gambling with credit cards if you pay the minimum balance there will be an interest and cash advance charge on top. More likely circa £100 just to keep it under the limit . Don’t panic . If you don’t have the funds available to pay the whole balance , go online banking and cancel the direct debit . Make a manual payment of £100 if you can . In fact before you do that phone the cc company and explain the situation . Tell them you are a compulsive gambler and don’t intend to use the card again . They may freeze the interest for a month or two if you are lucky . The last thing you should do is use this again for gambling . Hope that helps
Alex’s, another thing to do is contact your CC providers and ask them to reduce cash limits on your cards to zero. This should mean any online casino transactions will (hopefully) be declined. Will also prevent you withdrawing cash on your CC. All the best.
That’s really helped me Andy, not being able to do cash transactions on my credit card! I carry it for petrol and odd shipping now. Never stick a lot on it.
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