Capital One billing cycle

Options
Good morning folks,

could anybody possibly enlighten me as to what kind of billing cycle Capital One uses on their credit cards?

Just got one of their cards, but I can't find any more information in their FAQ other than things down the lines of 'if you don't pay on time, we'll have fun charging you extra fees', which is most helpful.

Do they run from the first day of the month till the first of the next month? Last day of the month? How long after that do you generally have to make payment?

No, not going to have problems repaying before somebody comes with comments down those lines, just using the card as a tool to build up some UK credit history, so I don't really want them reporting late payments to the CRA's and want to watch them like a hawk as I read that they like to do unexpected little things like using weird billing cycles etc. to encourage people to miss payment dates (though I set up a DD for the full amount each month, so that's not really relevant).

Thanks.

Comments

  • hansi
    hansi Posts: 3,001 Forumite
    First Post First Anniversary
    Options
    If it's of any help. I have had a Capital One card for many years. My statement date is the 13th of the month and payment is taken 3 days on or after the 5th day of the following month. All transactions can be tracked online and statements can be viewed and printed. It's a very efficient system as you can view all transactions, including pending ones online.
  • iwanttoberich
    Options
    Mine is 28th of the month. My direct debit is set to come out on the 20th of the month so the payment gets there well before the due date. I guess the statement date is based on whenever you received your card. As long as you have your direct debit going you have nothing to worry about.
  • hansi
    hansi Posts: 3,001 Forumite
    First Post First Anniversary
    Options
    Forgot to say that my full amount is paid by DD so I make sure the cash is in the bank by the 1st of the month.
  • bengal-stripe
    Options
    dgtazzman wrote: »
    Just got one of their cards,...... Do they run from the first day of the month till the first of the next month? Last day of the month? How long after that do you generally have to make payment?

    Just wait for your first statement, which will show your statement date and your payment due date. That will be your billing cycle. Those date will stay more or less the same (fluctuating by a couple day in either direction).

    Every card owner has a different billing cycle. All the cards are staggered throughout the month.
  • cse
    cse Posts: 168 Forumite
    Options
    Basically, you get a statement on the same day of every month, and your payment will be due 26 days after that. Direct Debits will be taken 3 days before that. If this causes your payment to fall at an inconvenient time of the month, you can request that Cap One change your statement date
  • fozmcfc
    fozmcfc Posts: 3,098 Forumite
    First Anniversary Combo Breaker PPI Party Pooper Debt-free and Proud!
    Options
    Just wait for your first statement, which will show your statement date and your payment due date. That will be your billing cycle. Those date will stay more or less the same (fluctuating by a couple day in either direction).

    Every card owner has a different billing cycle. All the cards are staggered throughout the month.

    In addition remember bank holidays, may mean DD payments are taken earlier than normal, so basically never leave it to the last minute to make sure money is in your bank account to pay the card.
  • The_Cappuccino_Kid
    Options
    I don't know if I am in the minority, but I find Cap One very good.

    My statement is produced on the 9th of every month and I get an email to tell me. I pay it off in full every month but have a DD in situ "just in case". The online facilities are excellent.
    Please note that any posts that I make on here are based on my personal opinion, experience and what I have read.
  • Hax
    Hax Posts: 890 Forumite
    Options
    fozmcfc wrote: »
    In addition remember bank holidays, may mean DD payments are taken earlier than normal, so basically never leave it to the last minute to make sure money is in your bank account to pay the card.

    Whilst the payment due date might shift by a day or two, you are always told of the payment due date on your statement - it's your responsibility to check your statement monthly for this date ;)
    My posts are my own opinions based on my experiences and info gathered from sites such as this.
    They are not a substitute for professional financial advice - but you knew that already didn't you? ;)
    VSP 2011 - Member #25 - Started 6th December 2010 - Total As Of 4th May 2011 (21 weeks in!) - £323.67/£500 - So far so good!
  • PNPSUKNET
    PNPSUKNET Posts: 4,265 Forumite
    Options
    if you call them, they will change the billing date to suit pay days
  • Aarons_mummy
    Options
    My DD date is the 27th but I think everyone is different so it will tell you on your 1st statement that comes through about a week or so before payment is due.
    Credit Card: £796 Left/£900 October 2011 :eek:
    Store Card: £100 October 2011 :o
    Declutter 100 Things In January 100/100:j:beer:
    No Buying Toiletries 2012
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.7K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.8K Work, Benefits & Business
  • 608.9K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards