Capital One - Been accepted - Now what?

Leigh73

Thanks skyrider.

I'm just so worried, as I've been completely stupid.

Really want to post details on here, to share, offload a bit, and ask for advice, but am embarassed and so stressed.

Careful_with_that_Axe

Well done for the card Leigh. I get my statement around 13th of month.

You don't need to be embarassed about posting problems on here - you're amongst friends. And having problems is what led most of us here to the site. I would urge you to confide to people here who could support you, but if you really don't feel able, then feel free to pm me. However, as I am far from expert in anything, you may miss out of some valuable advice from other members.

Chin up sweetie.
Jo

skyrider007

Leigh73 wrote: »

Thanks skyrider.

I'm just so worried, as I've been completely stupid.

Really want to post details on here, to share, offload a bit, and ask for advice, but am embarassed and so stressed.

No worries mate. You've just got yourself a card so cheer up :beer:

I think you should call them (0115 993 8002) and ask about the statement date. If you don't want to call them then you can send an e-mail via online banking and they'll respond you in a couple of days.

Do fire away with your questions and people here will be ready to help you.

clio

Leigh
sign up for cap 1 online and you,ll see all the info about your account on there.

clio

Snooze
In reference to OSIS- what happens if your ex directory???

pa49

Leigh73 wrote: »

However, I'm inclined to go with Rob's suggestion of the latter, rather than the former, as they need to think we're (inadvertantly, although accidentally - on - purpose) allowing them to make money out of us, while they are in fact improving my credit score! :j

Can anyone confirm this, but I thought they made a cut out of the merchant fee anyway so using and clearing is a situation in which they still make money?

setmefree

I always paid 10% off my balance and my limit went from £500 to £1,100 on the fourth statement

Leigh73

Careful_with_that_Axe wrote: »

Well done for the card Leigh. I get my statement around 13th of month.

You don't need to be embarassed about posting problems on here - you're amongst friends. And having problems is what led most of us here to the site. I would urge you to confide to people here who could support you, but if you really don't feel able, then feel free to pm me. However, as I am far from expert in anything, you may miss out of some valuable advice from other members.

Chin up sweetie.
Jo

Thank You so much for you kind, supportive message Jo.

To cut straight to the chase, I'm a recovering alcoholic (which I'm seeing a counsellor for on a weekly basis), and I'd been sober for a while until last week, when I had a huge row with my Dad, and stupidly ended up drinking again..guess, where I got the cash..yep, you've got it, from my new Capital One card

I'm just feeling so ashamed, guilty, and stupid for last week, which ended up becoming a 4 day bender, drinking Wed, Thurs, Fri, and Saturday :mad:

I made a cash withdrawal of £200 on the card, then £50 for a hotel, then a further £90 for another hotel (gulp...) and a final £100 cash withdrawal

So, together with the cash withdrawal fees (not even taking into account interest..which I can't work out) I'm looking at a balance of £449.00 on my card, which I'd only had for a day.

Having checked online, this leaves 'available credit' of £51, which I haven't touched, and don't intend to!

I can't believe I wasted this money, when I'm only just getting back on my feet with Life, and also slowly rebuilding my credit rating, but I need to deal with it now, and try not to beat myself up about it.

I was hoping to pay off the balance in full each and every month (only carrying a small balance), but for the next few months, I'm probably only going to be able to pay the 'minimum payment'.

My question if I may is, how do I work out the interest on the purchases / cash withdrawals, so I can get a final figure ahead of the statement date?

ie - My APR is 34%, and am I right in thinking that the minimum to pay each month is 3% of the monthly (purchases) balance PLUS the interest on the cash withdrawals?

Also, what about the cash withdrawals which I made? How do I work out the interest on these?

Sorry if I'm being a bit dim here, but my mind is spinning so much, at how stupid I've been letting myself go last week, that I can't fathom the figures..

I'm able to repay £50 a week tomorrow, but I'm worried that this won't be enough to cover the interest / minimum payment required, and that it will go against my credit rating, and I'll lose the card, having to pay the whole lot in one go. I should however be in a position to pay the balance off mid - June.

Thanks again for your previous words of support.

Any help with how I sort this out, while hopefully keeping my credit rating intact, and keeping my card (which I've now given to my Girlfriend, to look after), while not annoying Capital One, would be most appreciated!

Kind Regards,

Leigh

Leigh73

skyrider007 wrote: »

No worries mate. You've just got yourself a card so cheer up :beer:

I think you should call them (0115 993 8002) and ask about the statement date. If you don't want to call them then you can send an e-mail via online banking and they'll respond you in a couple of days.

Do fire away with your questions and people here will be ready to help you.

Thank You skyrider.

I am tempted to call / email Capital One, in order to find out when my statement is due to be sent out, so I'm ahead of the game, and won't end up being late paying, and have a late payment logged with the CRA's.

BUT, I don't really want them thinking, that I'm panicking that I can't pay it, before I even receive it!

I think I'll just wait to hear from them, and pay £50.00 online with my debit card, a week tomorrow, as planned.

Going by my figures I just posted, are you able to work out the interest, 'cos I can't!

Thanks again skyrider.

Leigh73

skyrider007 wrote: »

No worries mate. You've just got yourself a card so cheer up :beer:

I think you should call them (0115 993 8002) and ask about the statement date. If you don't want to call them then you can send an e-mail via online banking and they'll respond you in a couple of days.

Do fire away with your questions and people here will be ready to help you.

PS - skyrider,

When you email them on their secure form, do they email you back with the info, or do they phone you?

Thanks.