Capital One late payment charges

choccy999

Hi

I'm just wondering if someone can help with this please?

I've got a low spend limit on a Capital One credit card £200, as I needed a safety buffer leading up to Christmas. I got the card in November and spent some money on it, then thought I'll pay a fiver off it before my first statement was due in December. I received my statement in December requesting a minimum payment of £5, which I thought was ok as I'd already paid it and was strapped for cash over Christmas. I received a reminder for payment, but ignored it as I thought the account would be straight.

This month I've received my statement and I've incurred late payment charges due to a missed payment. I'm being charged an extra £15 for late payment plus the minimum payment for this month. I've sent them a secure message to query it, but obviously I'm not very happy about it.

Any advice appreciated. Thanks.

cooltt

It doesn't matter how many additional payments you make to the account the minimum payments always stands.
You've just made a really, really rookie mistake which has caused a lot of damage to your credit rating.
The only option open to you now is to explain the stupid mistake you've made and beg them not to put a late payment marker on your file.

Read and understand the terms and conditions of any financial product you apply for, it's as simple as that.

A4445

Unfortunately the payment made before the statement was produced doesn't count. You need to make your payment after the statement is produced. Technically you did miss Decembers payment so they are within their right to charge you. You breached the terms and conditions by not making a payment.

CakeCrusader

It sounds as though you paid too early, and they hadn't generated your statement yet. You need to wait for them to generate your statement.

Be careful with Capital One, never pay the minimum balance. I had problems with them several years ago as they were adding charges to my account for going over my limit, which was caused by their previous charge for going over my limit (caused by a previous charge and so on). This went on for years and they didn't actually tell me that there was a problem (I never had a phone call or letters from them). I had a direct debit set up to cover the minimum balance (I was unwell and I thought this was taken care of so didn't check so it was partly my fault). By the time I noticed the fees and interest doubled the amount that I owed them. They sent it to debt collectors, who tried to get a CCJ (but it was statute barred so they withdrew it). I did offer to pay what I owed, minus the fees, they said they'd let me know and I didn't hear back from them.

Dobbibill

always wait until the statement is produced before making a payment (unless it's an overpayment from the previous month)

hopefully Cap1 will waive the fee for a first offence if you ask them nicely, even though they are not in the wrong