Capital One - billing cycle question

Scooy78

I'm fairly new to Capital One,

I have checked my account.

From what I understand.

My Billing Cycle is from 15th - 14th of every month.
The Statement is produced on the 15th.
Payment due around the 10th (Or 26 days after Statement) of the following month.

It looks like Capital One has a cutoff time of 5:30pm, So this would mean any purchase on the card after the cutoff time would appear on the next billing cycle.

Ben8282

Scooy78 wrote: »

I'm fairly new to Capital One,

I have checked my account.

From what I understand.

My Billing Cycle is from 15th - 14th of every month.
The Statement is produced on the 15th.
Payment due around the 10th (Or 26 days after Statement) of the following month.

It looks like Capital One has a cutoff time of 5:30pm, So this would mean any purchase on the card after the cutoff time would appear on the next billing cycle.

Not as simple as that I'm afraid. There is no cut off time; not sure where you got that idea from.

Scooy78

I got that "idea" from the FAQ "How do I make a payment"

Most banks offer a 'Faster Payments' service when you pay by internet banking, telephone banking or standing order. Faster Payments received by Capital One before 5.30pm will reach your credit card account the same day. Payments made after 5.30pm will reach your account the next day.

So I presumed that it would follow suit for any banking transactions... Unless the cutoff time for payments is a way to catch people off guard with late payment fees.

[Deleted User]

The cut off time is for payments. Nothing to do with purchases.

[Deleted User]

That’s for a faster payment into the account.

Not a purchase made out of the account.