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Cap One PIF

Regular Contributor

Cap One PIF

I paid cap one twice this month to pif.  My statement cuts and I have a balance of $5.35....wth?!  So I call them and the crs tells me even though I paid in full I have to pay interest for April 25th  to May 16th when my last payment posted. I thought interest is supposed to accrue if there is a balance when the statement cuts. This sh#t is cray-cray.  The csr tells me before I pif I should call them for a payout amount. To the sock drawer they go.   

From 566 in 8/2012 to..

EQ 704 /TU 690 / EX 730

Discover IT 6000, Amex BCE 10000, FNBO Amex 3500, Cap 1 platinum 2000, Walmart Discover 5000, Orchard Bank platinum 3000, Best Buy 5000, Merrick Bank 1600, Target Visa 700
Message 1 of 10
9 REPLIES
Epic Contributor

Re: Cap One PIF


Azumi1 wrote:

I paid cap one twice this month to pif.  My statement cuts and I have a balance of $5.35....wth?!  So I call them and the crs tells me even though I paid in full I have to pay interest for April 25th  to May 16th when my last payment posted. I thought interest is supposed to accrue if there is a balance when the statement cuts. This sh#t is cray-cray.  The csr tells me before I pif I should call them for a payout amount. To the sock drawer they go.   


Did you carry a balance from your LAST statement?

If you PIF last statement balance than you should not be paying interest on this months purchases.  Otherwise it would be an average daily balance from statement to payment.

Message 2 of 10
Valued Contributor

Re: Cap One PIF

That's crazy, you should not have intrest if you did not carry a balanceSmiley Mad


Starting Score TU 667 EQ 663 EX 655
Current Score TU 778 EQ 776 EX 781 Last Update 4/2016
Garden Club 04/10/2013
Message 3 of 10
Regular Contributor

Re: Cap One PIF

I had a balance of 455 on my last statement due May 23. I paid 455 on May 14, and 15 dollars more when a auto pay popped up on May 16th.  My statement cut yesterday with a balance of $5.35.   Csr said there's a daily interest charge.  

From 566 in 8/2012 to..

EQ 704 /TU 690 / EX 730

Discover IT 6000, Amex BCE 10000, FNBO Amex 3500, Cap 1 platinum 2000, Walmart Discover 5000, Orchard Bank platinum 3000, Best Buy 5000, Merrick Bank 1600, Target Visa 700
Message 4 of 10
Epic Contributor

Re: Cap One PIF


Azumi1 wrote:

I had a balance of 455 on my last statement due May 23. I paid 455 on May 14, and 15 dollars more when a auto pay popped up on May 16th.  My statement cut yesterday with a balance of $5.35.   Csr said there's a daily interest charge.  


Did you have any interest charge on the statement of $455?

Message 5 of 10
Frequent Contributor

Re: Cap One PIF

Did you do a cash advance? You will still get interest on those
Message 6 of 10
Mega Contributor

Re: Cap One PIF


cottoncrown wrote:
Did you do a cash advance? You will still get interest on those

I was about to ask that. You should have a grace period of at least 20 days after the statement cut to avoid interest, cash advances are not on a grace period.




EQ FICO 548 3/3/16
Message 7 of 10
Established Contributor

Re: Cap One PIF

same thing happened to my husband. Paid his card off in full before the statement cut and I noticed a balance posted of 2.55. I wanted this card to post at 0.00. Called and they claimed daily interest as well! I really hate them!

building since 2011 Wallet:ME: Walmart 3k;Barclays Rewards 10k, Venture 18k; Slate 5k; Freedom 10k; overstock 4.8k, SGV2.5k; WEMC 20k 1.5 Rewards, Gamestop 1.2k, Fingerhut 3k; 2 NMAC Leases , VS 1.75k, BH 1.62k, Express 1.6k, Avenue 1.75k, JCrew 5k, HSN 1.47k, Torrid 1.55k, Roamans 1.4k, Jessica London 1.54k, kings direct 1.7k, Buckle 1.4k, WW 1.65k, ........ baddies:Fed Tax Lien
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Message 8 of 10
Super Contributor

Re: Cap One PIF

Check your cardholder agreement. Some of those subprime cards have no grace period.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 9 of 10
Highlighted
Established Contributor

Re: Cap One PIF

Mine shows 5.35 balance as well and says finance charge:cash advance interest

 

I looked over my statement and I did a western Union and theres a 10.00 cash advance fee :-) so now I know what to expect!

mine was PIF last statement. balance of 0.00 and 0.00 due 5/24 but I have 1577.00 outstanding so I PIF the 26th before statement cut the 28th so it would be PIF. and still got 5.35 interest and thats my payment for june 24th.

12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)

Myfico 8 scores
7/31/16 TU 710 ~ EQ 699~ Ex 705
My Wallet: Cap1 3,500K ~FH 2950 Credit One 1800~Credit one #2 1500.00~Orchard Bank 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 11K ~Care Credit 4,500
Message 10 of 10