Capital One Statement

Allan87

I'm on the classic card with no interest free period, purely to build up my credit rating. I'm wondering when do they start charging interest though, they mentioned when I activated the card the minimum payment would have to be made on the 28th of each month, yet it doesn't say anywhere when they send out my statement?

iceicebaby

Hiya

Have you phoned them to ask ?

Karl.H_2

They will send the statement don't worry. I am sure it will be within this week before the payment date. Why not log into your account on-line? Click here.

Sooler

Do you mean no interest free period from the date of each transaction?

This will mean that every transaction incurs interest from the date of the transaction.

I.e. if you make a purchase on the 4th and your bill date is the 24th there will be 20 days interest already on the bill for that transaction.

Even if you then pay the full amount shown on the bill interest will continue to be incurred until your money reaches the account ... and that interest amount will incur interest until your next bill.



Either pay money into the credit card account for every transaction the same day, i.e. spend £20 on the 4th, pay £20 into the credit card account on the 4th, only a few days interest will be incurred.

Or keep the credit card account in credit. I.e. pay in £50, make purchases which will be debited but the card will still be in credit so no interest incurred.

Pay in another £50 when necessary.

If you know you’re going to make a large purchase pay the money into the credit card first.

Allan87

Sooler wrote: »

Do you mean no interest free period from the date of each transaction?

[FONT=Arial, Helvetica, sans-serif]Interest free period[/FONT][FONT=Arial, Helvetica, sans-serif] Maximum of 56 days for purchases where the balance is paid in full every month. 0 days for balance transfers and cash.

I checked with the T&C's and it said the above, does that mean I incur no interest if paying the balance off in full each month?
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jamesd

Yes, no interest provided your only items are purchases and you pay the bill on time.

Balance transfers and cash will cause interest on interest between statement date and bill payment date even if you pay the full bill.

Karl.H_2

Allan87 wrote: »

[FONT=Arial, Helvetica, sans-serif]Interest free period[/FONT][FONT=Arial, Helvetica, sans-serif] Maximum of 56 days for purchases where the balance is paid in full every month. 0 days for balance transfers and cash.

I checked with the T&C's and it said the above, does that mean I incur no interest if paying the balance off in full each month?
[/FONT]

Yes that's correct, I have just signed and returned the Credit Agreement 5 minutes ago.