Caoital One Charge

wendy1983

Hi everyone!

I have hardly any debt and since a problem with HSBC years ago when I was only 18 and at uni, have never got myself caught out by charges. Although I have never been in any real debt, someone advised me to get a credit card to improve my credit rating. I got a Capital One card with only a £500 limit which suited me fine. On my first statement, it said I needed to pay by January 31st 2008, so on January 31st 2008, I rang up and paid my bill, (which was more than the minimum you'll be pleased to know!) by my Abbey Visa Debit card. They told me that because it will take 5 days for the payment to actually reach thme, I would be charged £12! I'm really really annoyed because as far as I was aware, I had paid on time. I also know that when you make a debit payment, it only takes 2 days usually. Is there anything I can do about this charge? It seems unfair because as far as I knew I had paid on time. Surely if they have to have the money by 31st, they should put the payment date as the 25th?

Would be really grateful of any advice,
Thanks,
Wendy x

jonesMUFCforever

You did not pay on time.
Please read the back of your statement and it will tell how many days in advance that you have to make a payment.

What I would do next is set up a direct debit for the minimum amount each month and pay anything over and above this manually.

To answer your last paragraph - if they had set the 25th as the due date when would you have paid by?? Answer is probably 25th and you would have been late!

You also say that you got the card to improve your credit rating but after only one month you seem to be in debt with them as you have not paid off the full balance.
Already Capital One are making money out of you.
I would not listen to your friend's financial tips anymore!

Moggles_2

Originally Posted by Wendy1983
I got a Capital One card with only a £500 limit which suited me fine. On my first statement, it said I needed to pay by January 31st 2008, so on January 31st 2008, I rang up and paid my bill, (which was more than the minimum you'll be pleased to know!) by my Abbey Visa Debit card. They told me that because it will take 5 days for the payment to actually reach them, I would be charged £12! I'm really really annoyed because as far as I was aware, I had paid on time.

This applies to virtually all credit cards, not just Capital One.
What's become of your C1 monthly statement? This states on the front as well as the reverse the various methods of payment and the recommended number of working days needed for processing.

I also know that when you make a debit payment, it only takes 2 days usually.

Some lenders process debit card payments made over the phone in two days, but your payment would still have been two days late, wouldn't it?

Is there anything I can do about this charge?

All you can do is ring Customer Services and explain this is your first credit card etc. etc. With luck, the bank may waive the charge as a goodwill gesture on this first occasion. Otherwise, put it down to experience and resolve to pay up in good time from here on

wendy1983

Thanks for the advice! But I really didn't need a lecture! I didn't think this site was supposed to be judgemental! Obviously I was wrong!

The second comment here strikes me asd a bit rude and patronising!

souljahslim

Hi wendy, forget every one else this is what you do,Call Capital One - tell them that this is your 1t credit card and that it is an error and you didnt realise that they payment would take 5 working days to clear, ask them as a good will gesture to refund the late payment charge,they will then refuse advising you they can not do this or they will offer you £6, say that this is not right and it is a oneoff - tell them that you want to escalate the call and that you want to speak to a manager about the charge they should then refund the charge - if not a manager will as a good will gestureI wouldnt be worried about the charge what i would worry more about is the late marke against ya name - also try and write to cap 1 complaint dept and ask them if to remove the late mark from your name and explain the reason why - its worth a try.Ok so in the future always remember that you need to pay your credit card bills 5 working days before the payment due date - with Capital One this is even if you pay by debit card- it takes this long for a payment to go from your bank account to the recieving orgabnisation- did you knwo that you can change the date to what ever you want so that it come into line with your wages etc - but best thing to do is too set up a direct debit for the min payt and then make extra payments where possblelet me know how you get onpeace

souljahslim

so how did you get on

Fruit_and_Nut_Case

souljahslim wrote: »

so how did you get on

You are still here souljahslim but I don't know if wendy1983 has been around these parts for some time.

alfred64

2yrs in fact.

But agree it would be nice to know. Similarly, others who post their problems and then disappear, never to return.

sharpy2010

Its hardly surprising though, is it, when certain members of the board continue to post smug responses.

Correct as they may be (and they usually are) it would be worth them writing their "advice" in a more factual way, rather than a "I know everything, you obviously don't" kind of a way.

Just my copper-coins worth.

chattychappy

Well... I think it was a case of the OP not getting the answer she wanted and using the manner of the comments for toys out of the pram. The content of those comments was certainly good advice.

Conclusion: 6 of one, half a dozen of the other.

If people really wanted to be smug they would have said something along the lines of "if you really want to post on "Capital One" then at least spell it correctly.

sharpy2010

chattychappy wrote: »

If people really wanted to be smug they would have said something along the lines of "if you really want to post on "Capital One" then at least spell it correctly.

I used to be a grammar Nazi, after all it isn't difficult to write with correct spelling. But so many people seem unable to do so that it just doesn't seem worth bothering to do any more.