Capital One direct debits

topgranny

I recently obtained a Capital One Aspire World card after finding that the cashback was paid back into the account annually, rather than in vouchers as with my M&S card (which I've used with no problems for 26 years). Also, it would mean that I could ditch the Post Office card used abroad (that's another story!).

I was a bit put out when, for two consecutive months, the direct debit payment was taken from my bank 2 and 3 days respectively earlier than the payment date shown on my statement. I've had several credit cards over the years and have never known this happen before.

Anyway, I've just spoken to someone there who pointed out that it is part of the T&C's (which I hadn't picked up) but said it should also be on the statement. I've just checked and this isn't part of the statement printed from online banking but is on the paper statements they send out.

I have to say I find this quite bizarre and am seriously thinking of cancelling the direct debit, if not the card. Another point that I was disappointed with was that the time between issuing the statement and the payment date was a lot shorter than with M&S and most other cards.

Seriously wondering whether it's worth having this card!!

grumbler

topgranny wrote: »

... for two consecutive months, the direct debit payment was taken from my bank 2 and 3 days respectively earlier than the payment date shown on my statement.

Normally statements show two dates:

• payment due date,
• DD payment date.

They are not necessarily the same.

TadleyBaggie

My DD usually comes out 3 days before the payment date, doesn't bother me to be honest.

Biggles

Every other credit card I've had, so far as I recall, has the money leave your account on the 'payment due date' shown on the statement.

Capital One however, as grumbler says, show two dates on the statement. One, the 'payment due date' is shown in large print and, on the first occasion, I expected the DD to leave my account then. Instead, it left three days earlier, which almost caught me out. There is a second date, lower down in small print - that is the DD date.

I have now had my statement date changed in order that the DD follows my main monthly incomings, instead of preceding them.

OllyM

A full balance DD being taken before the due date is reasonably common - Tesco Bank and American Express definitely do it.

msallen

Its quite common for cashback cards to have a shorter interest free period than standard cards (hence your payment will be due sooner after the statement). I guess this helps pay for part of the cashback.

Biggles

I notice I have only one other CC that shows a 'payment due date' and a 'direct debit payment date' on the statement - and they are both the same date. My other statements just show a 'payment due date', which is always the same date as the funds leave my account.

It is rather confusing for Capital One to show the later date in larger, bold print when you are paying by DD, as it's not usually relevant.

molerat

The official statement, available on line and the only official way your account status is communicated, clearly shows when the dd will be taken. One other reason why you must read your statement every month.

Your Direct Debit payment of £xxx.xx
will be taken on or within 3 working
days of 19/09/13. If you make
additional payments your Direct Debit
will still be taken unless your balance
is cleared in full.

planteria

i take cashback ahead of points. currently use Amex and Barclaycard, and do nicely as a result.

topgranny wrote: »

Another point that I was disappointed with was that the time between issuing the statement and the payment date was a lot shorter than with M&S and most other cards.

i haven't found CapOne to be a problem in this respect in the past. Amex are much shorter. The HHonors card (points, rather than cash, i know) is great for it's lengthy IFP:)

Vortigern

Your Direct Debit payment of £xxx.xx will be taken on or within 3 working days of 19/09/13.

Does this mean they could take payment on 16/09/13?

It would be better if it said "on or soon after 19/09/13"

reclusive46

Vortigern wrote: »

Does this mean they could take payment on 16/09/13?

It would be better if it said "on or soon after 19/09/13"

Yes it could be taken on the 16th.