Paying Capital One C.C.

cally6008

Which way is best to pay capital one credit card payment

1 - from online banking to credit card account

2 - from credit card online banking where bank account is set up as the funding account (so to speak)

I was looking at doing the "payment a day" challenge to pay off my capital one card. Would capital one get annoyed at receiving £1 per day from me and then receiving the minimum amount when my statement comes through ?

exel1966

C'ant say I've heard of that challenge. Some credit cards when using the credit card's own site for payment restrict the number of payments per day (5) accepted (security reasons), but I've never heard of one restricting the number of payments per month/year. The way to overcome the daily problem was to pay via your own banks online banking system rather than the card's system. Card companies don't really care how they get the money as long as they get it on time.
I don't think you'll have a problem with your plan, but please bear in mind that if you suddenly stop your payments for a while then they may not count towards the next months payment if a new statement hasn't been issued yet so always make sure you pay at least the minimum after receiving a new statement.

How long to clear your debt at a £1 per day ?

bradrock

pay online with your debit card or direct debit.
There would be no problem paying a pound a day but cant really see the point!!

cally6008

A payment a day challenge is here - http://forums.moneysavingexpert.com/showthread.html?t=1079175

The point of paying £1 per day would be so that the debt would be coming down, albeit slowly, and would therefore pay the debt off quicker with less interest to pay.