Capital One settlement figure

terriermama

How do credit card companies arrive at their settlement figures?

I wanted to pay off my balance in the previous statement period and on the day rang up for the settlement figure. They couldn't advise on the tel on the day, and told me I had to wait 10 days for it in the post. As I wanted to reduce cash interest immediately, I went ahead and made a full payment, plus extra (an estimate) for cash int. Despite clearing the balance (or so I thought) last week, I just received the letter with the settlement figure with the original sum plus an enormous amount of interest. I asked for a simple explanation on how interest was calculated and if I will be receiving a credit as I paid a nearly the entire balance off way before the stipulated date of payment. But to no avail on the first point and 'no' on the second.

The tel reps are frustrating to deal with as they never know anything, and won't put me through to the relevant dept.

Any help on this appreciated.

DilbertJones

try saynoto0870.com

search for your credit card company, ask for customer services, should get a better response

scheming_gypsy

the statement should give you the rate of interest charged. If you add that to your previous balance you should be able to see if the statement total is right