CapitalOne payment discussion

WeaponX

Hi,

I pay my CapitalOne credit card balance off every month from my bank account. This month it has fallen on a Sunday though my bank does not let me transfer month on this day as it's a non-business day. This means that CapitalOne will have their money 3 days before it is due. So the question is either why do CapitalOne set their payment days on weekends or how come my bank does not allow transfers on weekends?

You thoughts please. Thanks.

YorkshireBoy

You thoughts please.

My thoughts are why don't you pay by direct debit?

It's the only way to eek out the maximum interest free period, and the best way to ensure you always pay on time/avoid charges/retain promotional rates/protect your credit file/etc.

pipsi_2

Why do you pay on the day it is due? Why not earlier? The earlier you make the payment the less interest the balance will accrue if there is a balance carried over. Alternatively if you are paying the balance off every month, set up a direct debit so it will always be taken out on time and it's one less thing to think about.

chexum

WeaponX wrote: »

This month it has fallen on a Sunday though my bank does not let me transfer month on this day as it's a non-business day. This means that CapitalOne will have their money 3 days before it is due.

If they would make the due date Friday, would you have a problem that they have shortened the interest-free period?

They still state it's "maximum of 56 days", they don't guarantee a minimum...

OTOH, it would be nice if banks/card companies didn't consider working/processing payments only on weekdays...

waynepyrah

WeaponX wrote: »

Hi,

I pay my CapitalOne credit card balance off every month from my bank account. This month it has fallen on a Sunday though my bank does not let me transfer month on this day as it's a non-business day. This means that CapitalOne will have their money 3 days before it is due. So the question is either why do CapitalOne set their payment days on weekends or how come my bank does not allow transfers on weekends?

You thoughts please. Thanks.

Pay by Debit card over the phone or on their website

borders_dude

WeaponX wrote: »

Hi,

I pay my CapitalOne credit card balance off every month from my bank account. This month it has fallen on a Sunday though my bank does not let me transfer month on this day as it's a non-business day. This means that CapitalOne will have their money 3 days before it is due. So the question is either why do CapitalOne set their payment days on weekends or how come my bank does not allow transfers on weekends?

You thoughts please. Thanks.

if you are so keen to pay on the due date which happens to be a sunday why not log into their website and pay using a debit card? Thats what I do, however I dont wait until the due date, I pay in plenty time. Or you could phone them and pay using a debit card. if you have one that is.

WeaponX

Thanks for your replies.

I was told by a work colleague that it wasn't a good idea to set up a direct debit if one day you find yourself with a disputed transaction. Why should the credit card company still take the full monthly amount if there is a disputed transaction? Was he right in saying this?

Also, do direct debits operate on weekends?

Fiddlestick

WeaponX wrote: »

Thanks for your replies.

I was told by a work colleague that it wasn't a good idea to set up a direct debit if one day you find yourself with a disputed transaction. Why should the credit card company still take the full monthly amount if there is a disputed transaction?

They don't.

The disputed amount will be "frozen" and you won't pay for it until the dispute is resolved.