Capital One Min Payments

peoplesrepublican

Hi, sorry if this is a duplicate thread, but just wanted to make sure no one does what I have done this month...if you pay the min on your CO card by direct debit each month, they take the money no matter whether you have already paid them or not that month. So I have ended up paying twice this month, without actually having twice the money available in my account, oops!

Then, the only way to get the actual cash back off them is to get a cheque which takes up to 21 days. I could moan all day about their policies but the bottom line is, if I had checked this out before making assumptions I wouldn't be in the situation I am now.

Hope this stops someone else making the same mistake.

Galstonian

If it says on your statement that a payment will be taken by direct debit then, quite simply, a payment will be taken by direct debit.

peoplesrepublican

Sorry should have added that in the past I have made a payment to my barclaycard account, expecting them to still take the minimum payment stated anyway later in the month, but they didn't.

Although, using what Galstonian says as a rule of thumb will make sure you never end up making payments you weren't accounting for.

miss_lisalou

Strange one. Other credit cards I've had I have made manual payments before the direct debit date and, providing that payment is higher than the d/d amount due, they have not taken the d/d. Would appear perhaps to depend on the credit card provider. Have you considered contacting C/O to clarify this?

peoplesrepublican

Yep, they confirmed that what is stated on the statement will be taken on the date stated regardless. It certainly is different between the CC companies.

YorkshireBoy

Galstonian wrote:

If it says on your statement that a payment will be taken by direct debit then, quite simply, a payment will be taken by direct debit.

I assume this comment is directed specifically at the Capital One card Galstonian?

Egg (and possibly others?) operate differently, in that as long as there's a clear 5 days between making a manual payment (after the statement date) and the DD collection date then the DD won't be taken.