BARCLAY RETURNED PAYMENT

[Anonymous]

So yesterday I submitted my payment for the balance on my barclay reward mastercard (due 6/1) and spoke to a rep and closed out the account (i have another barclay card and didnt need two).  My balance was $167.01 to which i made a payment for out of my capital one checking account.  I used this acct for credit card payments and transfer over the funds from another account.  I only had $100 in this capital one checking acct, so i made a $100 depoist this morning to cover the payment.  I just received a email from capital one saying that my payment was returned for lack of funds ( i guess i didnt deposit the money in time).  I just went ahead and made the payment again via their website.  My questions are: 1) Will they charge me a returned payment fee? 2) Will they charge me a late payment seeing how it was due yesterday, but that payment is being returned, but then I just went ahead and made a payment now (day late)?  I know i am going to have to give them a call to explain it.  Do you think this will have any impact to my other barlcay card that is open?

[Anonymous]

This is why we should never schedule a payment until we have money in the account. It's hard to say what will happen (late fees, etc), but it's kinda of crazy that they processed your payment that fast. If the payment really did get returned, then Barclay will have a record of it and it could affect your other account with them.

[Nova5041]

Yeah justme3 is right,  I once scheduled a payment with Amex at 9pm, and it was taken out of my checking account the next morning.  When most of the time it takes them a day or two! 

[longtimelurker]

And I would guess Capital One will charge you a fee

[Anonymous]

I would expect fees for sure and it may not "immediately" impact your other Barclay card but I would be damn certain the first time down the road you ask for a CLI it will be denied and they will reference the returned payment.

[Anonymous]

i will eat the fees if needed, but i just dont want it being reported to the credit bureau for being a day late.  My last late payment on my credit report was a school loan 8 years ago.

[jacetx]

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@Anonymous wrote:

i will eat the fees if needed, but i just dont want it being reported to the credit bureau for being a day late.  My last late payment on my credit report was a school loan 8 years ago.

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It wont be reported as late. That happens 30 days after the payment was due.

[Anonymous]

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@Anonymous wrote:

i will eat the fees if needed, but i just dont want it being reported to the credit bureau for being a day late.  My last late payment on my credit report was a school loan 8 years ago.

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Don't worry it won't be reported to the bureaus, it would have to be 30+ days late for that.

[UncleB]

Lots of good info so far... I'll only add that before you call up Barclays and "fall on the sword" give things a few days for the dust to settle.

There's a chance they'll resubmit the ACH debit on the back-end and it won't ever reflect as a 'bounced' payment.  If this is the case you'll still have fees from your checking account but Barclays will be none the wiser.  (If they don't it won't hurt anything to wait a couple of days in any case.)

This happened to me years ago with Amex... there was a 'glitch' on my end and I immediately called Amex up and explained everything (and I overnighted them a cashier's check) but they sent my check back through multiple times, each time creating another OD fee with my bank.  I finally had to stop payment on the check, and only then did Amex show the payment as 'returned'... for nearly a week they gave me credit for both the 'bounced' payment and my cashier's check, which created a credit balance until everything finally settled.  If only I hadn't intervened so quickly it would have worked itself out. 

[woodyman100]

I accidentally clicked the wrong bank on a Cap1 account before and had the payment returned.

I received no fees and the payment was no where close to being late.

I called in and was told that there was no adverse action on my account.

However the next month 0% BT offers disappeared.

I immediately removed one of the accounts. I learned my lesson.

1-account with plenty of cash in it is the way to go