Capital One - does this sound right?

jetfighter

I got my new Capital One card (the 5% cashback one) on 26th February and activated and used it that same day. I set up a Direct Debit over the phone and asked for my payments to come out of my bank account every 1st of the month. (I get paid on 27th of the month.)

It's now only a week and a half later, and I've just had my first statement?!! (8th March.) It says my full balance will be taken on 22nd March! (5 days before payday, so that's not good!) The reason I got this credit card was that I had a large purchase coming up and I've put £1,500 on the card already which they say they're going to take on 22nd before my partner and I are paid - argggg!

Has this happened to anyone else? I was expecting my first statement towards the end of March at the very earliest, and quite often with new credit cards it's been a long while until getting my first statement.

This doesn't sound right, does it? Or am I going mad?

grumbler

Generally, you can ask the provider for some specific statement date, but they have no obligations to fulfill your request. This depends on how flexible their billing cycle is.

If they did promise you the 1st, ask them why they failed to do what they promised.

guesswho2000

grumbler wrote: »

Generally, you can ask the provider for some specific statement date, but they have no obligations to fulfill your request. This depends on how flexible their billing cycle is.

If they did promise you the 1st, ask them why they failed to do what they promised.

Indeed, Capital One, however, are one of the providers who will change your statement date on request, there was something about that in the literature when I took out that exact same card.

Wanton

Phone them to check the payment date, it may be that the letter was generated before the change of date took effect.