Help with my first Credit Card. How does it work?

grumbler

How do you know? The payment date is normally about 20 days after the statement date and is shown in the statement.

molerat

With my latest Cap1 the statement date is 1 month after the start date of the agreement (4th)(which was a few days before I received the card) and the due date is 25 days after that (29th). If you only got the card earlier this month you have not completed a full cycle yet. If your on line account is working as it should and showing purchases but no statement then everything is running to plan, stop worrying

longtermplanner

Surfeit75 wrote: »

Really? On Cash Advances?

That doesn't sound too bad then. If I needed £50 in cash to tide me over I would only pay approx £1.26 back in interest, is this right?

Sounds too good to be true on the card I've got.

yes that is too good to be true. You need to check your card for the details, but Capital One say "We charge daily interest on cash withdrawals at your cash interest rate. You'll also be charged a fee of 3% of the amount withdrawn or £3 (whichever is greater)."

Surfeit75

grumbler wrote: »

How do you know? The payment date is normally about 20 days after the statement date and is shown in the statement.

When I log in to Capital One Account it says

Account summary
Current balance £79.41
Amount overdue £0.00
Minimum payment £0.00
Payment due date 04-02-2014

I got the card the start of this month and the first time I used it was the 12th.

But when I click on "View your Statements" there is nothing except for

"Sorry, your estatements are currently unavailable. Please try again later."

grumbler

If there was no any statement yet then you don't have to pay anything.

jackieblack

grumbler wrote: »

very few utilities companies (if any) accept CC payments

I know that Veolia do, with no fee

Fingerbobs

grumbler wrote: »

very few utilities companies (if any) accept CC payments.

I don't think this is true. Last time I switched energy supplier (last year) I was specifiically looking for those that accepted CCs and didn't charge any fees - most utility companies accepted CC payments, but many charged a fee for doing so.

British Gas, E.ON and Anglian Water accept credit cards and don't charge any fees.

Council Tax can also often be paid by CC, but again there is usually a fee. Mine charges 2.25%, for example.

grumbler

Fingerbobs wrote: »

British Gas, E.ON and Anglian Water accept credit cards and don't charge any fees.

Don't know about others, but IIRC EON offer a discount for paying by DD.

Council Tax can also often be paid by CC, but again there is usually a fee. Mine charges 2.25%, for example.

You are right, this is what I meant to say . For me extra fee and not accepting are about the same.

Fingerbobs

grumbler wrote: »

You are right, this is what I meant to say . For me extra fee and not accepting are about the same.

Ha ha! Yes, same with me! :beer:

bigadaj

Fingerbobs wrote: »

I don't think this is true. Last time I switched energy supplier (last year) I was specifiically looking for those that accepted CCs and didn't charge any fees - most utility companies accepted CC payments, but many charged a fee for doing so.

British Gas, E.ON and Anglian Water accept credit cards and don't charge any fees.

Council Tax can also often be paid by CC, but again there is usually a fee. Mine charges 2.25%, for example.

That's an impressive commitment on paying by credit card if you're prepared to move house (based on the water company).