Credit card

[Bimgy85]

Is it true that when your monthly statement is issued, anything you buy after that isn't owed until the next monthly statement?

Yes it goes on to the next month's statement

Yes I pay off my credit card in the middle of the month by direct debit and the amount of the debit is set around the 10th I think. That's how credit cards usually work.

I still treat it as though it was a debit card, ie I wouldn't put anything on the card that there isn't money in my current account to cover, unless in an emergency of course. Otherwise there'd be too much temptation to go mad with the spending!

Yes, that's why they say 'up to 55 days credit' or similar. My credit card statement date is usually around the 23rd and the whole balance is taken by direct debit on around the 18th of the following month.

If I bought something on it today, it would appear on the statement I got on the 23rd of November and the money would be taken on the 18th of December.

I just put just about everything I buy on my credit card and then treat the direct debit as just another bill. There's no temptation to spend extra, it's still spending money however you pay for something.

Putting things on the credit card instead of paying using a debit card means that you only have to check once a month that there's enough money in the current account to pay the next month's direct debits (I have a spreadsheet I use for this). It's also useful because I usually have work expenses and it means that I get the money back from work before I have to pay for said expenditure.