Capital one late payment....

jesster_2

The same thing happened to me on my Virgin card when i'd just transferred loads onto it at 0%...

First i realised was the whacking great big charge PLUS a month's load of interest, as missing the payment broke the Ts and Cs.

I may have been dumb not to have known this, but it came as a bit of a shock.

They wouldn't budge so i just moved onto another card.

kevker

Internet banking is only instant within the accounts held by same bank. When transferring to a different bank, or paying a bill, it takes the same amount of time as clearing a cheque. Therefore paying on the 19th, nothing would have happened until the monday, 20th. The instruction would have been sent to Capital One at close of business on Monday. On the Tuesday they would have started their end of the process to clear the funds. That's why it's no instantaneous. Why it can't be, who knows. To me it's a joke.

*Sparkle*_3

AMILLIONDOLLARS wrote:

But I though internet banking is Computerised, so it shouldn't matter what day the transaction takes place. What's the point of 24 hour banking using this method if it doesn't active until a weekday!!

Exactly!!

I always thought internet banking was the quickest way to pay, especially when capital one dont offer any paying in facilities!

Its just crazy that in this day of technolgy you have to wait 5 full working days for a payment to clear! where as in most countries the payment is instantly transfered!!!

Bloody banks want to gamble the money on the stock money first that's why!!

I love Barclay card their customer service is second to none and i make their payment online at their site and is transfered the next day!!!

AMILLIONDOLLARS

What gets me is that I have just paid my Capital One bill by cash and its still going to take seven days to get to them:mad:

micheleen

AMILLIONDOLLARS wrote:

What gets me is that I have just paid my Capital One bill by cash and its still going to take seven days to get to them:mad:

A few years ago I had a BIG argument with Amex. I was living in Brighton at the time and always paid my bill at their travel office (supposedly instantaneous) in cash. Anyway I paid the full amount as usual and then 2 days later had my card refused, insufficient credit. I phoned them up and the drongo on the other end told me it takes 2 days for the cash to reach them, I said something very rude and pointed out that I had their documents detailing that the payment was instant when paid at their office. Ended up speaking to a senior supervisor and a week later got a £50 travel voucher for my 'inconvenience'

How long can it take for cash to clear :rolleyes:

davisneil

can i suggest that you try as hard as you can to reduce the balance so you got plenty of breathing room regarding your credit limit...if you cant do that maybe try asking them to increase the limit? i say this because this could spiral due to the account being up to the limit....so next month the same thing could happen again, say you make the minimum payment, use the card a little but then the interest added and the timing could make your account overlimit again incurring another charge...and so it goes on...

*Sparkle*_3

davisneil wrote:

can i suggest that you try as hard as you can to reduce the balance so you got plenty of breathing room regarding your credit limit...if you cant do that maybe try asking them to increase the limit? i say this because this could spiral due to the account being up to the limit....so next month the same thing could happen again, say you make the minimum payment, use the card a little but then the interest added and the timing could make your account overlimit again incurring another charge...and so it goes on...

Thanks Davisneil, you just gave me the kick up the bum to cut up my card, i have cut it up, well i sort of chewed it up!! :rotfl: LOL just kidding couldnt find the scissors quick enough so i bent it all up whilst swearing quietly!! :T
Feel so much better!! :j

The last time i used the card was around christmas and i used it up to its limit.
I won't be making any more perchases on that card anymore, i hate them soo much with a passion :mad: , so this will encourage me to get rid of this debt!!
I will try and make payments over the minimum and make capital one more of an priority.

Thank you!!

davisneil

*Sparkle* wrote:

Thanks Davisneil, you just gave me the kick up the bum to cut up my card, i have cut it up, well i sort of chewed it up!! :rotfl: Thank you!!

Do you have a dog?

Dogs love credit cards. My friends dog quite liked my egg card a few years back. Dont think Conker gives two hoots about the APR...he just liked it cos it was chewy.

heppy23

*Sparkle* wrote:

Hello Guys

Just wanted some advice, my payment for my capital one card was due on 23rd, i made the payment via internet banking on the 20th.
The payment reached my capital one account on the 24th, i have been charged for late payment and going over my limit= £40!!

Obviously i should make my payments earlier, but i think its out of order they charge me that much!! Its not like i'm refusing to pay or anything or its a week late!
I havent called them yet, wanted to ask you guys first.

Whats your advice?

Plus they dont even have a facility where you can pay online on their website, or even call up and make a payment, they are so crap the first chance i get to get rid of them i will!!

I am with capital one. Using the info they give for how to make a payment using internet banking (sort code, account number and card number as reference) I have a standing order weekly which comes to about double the monthly minimum payment. This has ensured I never have to worry about missing a payment as their computer is alway happy. At one point I had 5 standing orders a week going and I identified each one by making mondays £20.01, tuesdays £20.02 etc.

I have cut up the card now and have just one standing order a week to cover double the minimum payment. I also make a weekly payment by internet banking of 1% of the balance. I have no real mathematical reason for doing that it just encourages me to keep an eye on the balance.

scottishspendaholic

Hi heppy23,

You are so organised - I'm so impressed. When the money from eBay/Amazon/second job starts rolling in, I'm going to do what you do!

scottishspendaholic x