When do Capital One report late payments?

Bren_D

I received an email from my bank at nearly 11pm on the 31st about an unpaid payment on my account.

When checking my online banking, they tried to take my Capital One DD on the 30th, but it shows up as a returned DD. I don't know why it was returned, it would have put me £30 into a £250 planned overdraft, the day before I got paid. Not ideal, but not horrific.

I made the payment as soon as I spotted what had happened, obviously not in time to avoid the £12 fee from Capital One, but as soon as my bank informed me of the situation and before Capital One had made any contact.

I have a reasonable credit score (777, Equifax) and there aren't any late payments on my record. I'd like to keep it that way and would be incredibly miffed if something kind of out of my control had a negative impact.

All a quick Google has turned up is the advice about reporting dates on the Equifax website, my payment will clear well in advance of the 30 days they mention, or another provider (er, thanks Google) saying that payments received within 14 days don't get reported as late. Does anyone know how Capital One deal with such situations? Their UK site isn't that helpful on that front.

Ideally I'd prefer not to call them, I'm not a fan of talking to anyone on the phone, but if I have to is pointing out that I have never been late with a payment and being able to offer proof that the payment should have gone through and that I acted within minutes of my bank informing me of the issue likely to be enough for them to agree not to report the late payment? The fee is annoying, but the least of my concerns at the moment.

Any advice, folks? 

Dimanche_Prochain

So you're worried about the impact on your credit file but you can't be bothered to pick up the phone and ask them?

Pick up the phone and ask them, for gods sake.

Ebe_Scrooge

From what you've described it's unlikely that it'll get reported as a late payment - not impossible though, depends on the timings of their automated reporting cycles.  As above, phone them up - whether you like speaking on the phone or not!  If you're polite, acknowledge that it's your fault (whether it's actually yours or your bank's fault makes no difference, it's not Capital One's fault), then there's a good chance they'll remove/not apply a late payment marker, and they could well even refund you the £12 fee.  In my experience, most credit card companies are pretty sympathetic about an isolated glitch in an otherwise unblemished history.

You do need to contact your bank as well, to find out why the DD was refused.  It's possible that your overdraft facility has been removed or reduced - although I would have expected them to contact you if that was the case.  Whatever, you need to establish why the DD was refused.

Ignore your "reasonable score" of 777 - that's nothing more than a marketing gimmick invented by the CRA, and is not used - nor even seen - by any lender.

Chrysalis

No idea, but tesco I once had an issue, they tend to remove a DD instruction if the card is zero balance for a while, I did a BT to it, and didnt notice they had removed the DD.  I got a letter informing me about a missed payment and potential loss of 0% offer, rang them, they kept me on the deal, I setup the new DD, and it never appeared on my file.