Question about Capital One payments

digitalphase

My Capital One account is set up for minimum payments by direct debit. It is due to be taken out between 17-20th October. I made a payment by card using my online banking on the 8th October. It is showing on my online transactions - 'thank you for your payment'.

It says '0' on my online banking next to minimum payment due.

Does anyone know whether they will take an additional payment out on the 17-20th or whether that is me paid up for this month.

Never paid early for a credit card before so unsure, it was my intention to pay this and let them take the DD out later, but would be good if they didn't as I've gotta pay my Vanquis balance of end of month :mad:

Moggles_2

The effect of a manual payment, when a direct debit is active on your account, varies between lenders, so we all need to make sure we understand what happens to the DD if we make additional payments.

With Capital One, the direct debit is recalculated if a payment is made at least x days before the DD is due, so I would prepare yourself for a reduced payment to be collected.

digitalphase

Thank you, that's what I thought. My payment of £25 was made 12 days before it was due and the minimum payment was £24 something. Does that mean they won't take anything?
Obviously I'll make sure I leave £20 just incase

Moggles_2

digitalphase wrote: »

Thank you, that's what I thought. My payment of £25 was made 12 days before it was due and the minimum payment was £24 something. Does that mean they won't take anything? Obviously I'll make sure I leave £20 just in case.

Following an additional payment, Cap One normally collects 3% of the reduced balance. I'd set aside at least £25, if I were you, to cover this.

Also, C1 has a habit of collecting the DD up to 5 days before the payment due date. There's a note about this on monthly statements, but I still think they've got a nerve :rolleyes:

digitalphase

OK thanks Yeah they normally collect the 17th I think, it's due the 20th.