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Frequent Contributor
Posts: 386
Registered: ‎01-20-2012
0

CapOne Statement Date change?

I have 2 CapOne's--one which has historically been due on the 2nd of every month, and the other which has historically been due on the 22nd of every month. I noticed a change this past month, in that both cards' due dates were shifted three days--now they're due on the 5th and 25th. This doesn't really hurt me since I get paid on the 15th and 30th of every month and split my payments for each card based on my paydays, but I thought the CARD Act disallowed this sort of statement shifting unless the consumer requested it? Or does the Act just disallow shifting the due date to a day prior to the same day of the month as previous? Or am I wrong altogether? Can someone help clarify for me? My main concern is that this sort of shift could cause both cards to be due within the same pay period rather than alternating pay periods for me now.

 

Thanks all for any enlightenment.

Citi Double Cash $15,000 / Barclaycard Rewards $8,900 / CapOne Platinum $7,450 / BofA Cash Rewards Visa Sig $7,000 / BofA BankAmericard Visa $3,500 / eBay MC $5,800 / Chase Freedom $1,500 / Discover It $2,300 / Amex Zync / Lowe's $8,500 / JCP $4,800 / Walmart $5,000 / Amazon $4,100
Valued Contributor
Posts: 2,528
Registered: ‎11-11-2010
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Re: CapOne Statement Date change?

[ Edited ]

CARD Act allows due date to be shifted to prevent due date on weekends and holidays.

 

You can change payment due date by giving Capital One a call.

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Frequent Contributor
Posts: 399
Registered: ‎04-30-2008
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Re: CapOne Statement Date change?

Fair deadlines for credit card payments: Starting on February 22, 2010, the due date for card payments must be the same day each month.

 

This change is intended to prevent consumers from incurring late fees as a result of accidentally missing a due date because it changes from month to month.

 

If the due date falls on a holiday or weekend, the deadline is considered to be the next business day.

 

Also, card companies must accept and promptly post payments received by 5 p.m. (local time) on the due date. They can no longer, for example, have early morning deadlines for payments to be credited on the due date.

Frequent Contributor
Posts: 399
Registered: ‎04-30-2008
0

Re: CapOne Statement Date change?

From Capital One Web Site:

 

Your monthly billing statement must be clear and easy to read. It also has to provide the following information:

 

Minimum Payment Warning
 
All issuers must clearly inform you that you’ll end up paying more money in interest over a longer period of time if you only make your minimum monthly payment. If you have paid your balance in full for two consecutive months or your account has no balance, the Minimum Payment Warning will not appear on your statement.
Cost and consequences of paying just your minimum monthly payments
 
Bottom line—if you pay just your minimum monthly payments, your new statement will show you the following:
  • Number of months it would take you to pay your entire balance
  • Total dollar amount you’ll pay, including interest and principal, during that period
Benefits of paying off your entire balance in 36 months
 
The new statement shows you how you can pay off your entire balance within 36 months by listing the following:
  • Amount you need to pay each month to reach your 36-month pay-off goal
  • Total cost, including interest and principal, of paying your entire balance within 36 months

Your statement must provide the following:

  • A clear warning of what could happen if you make a late payment
  • A year-to-date summary of the total amount of fees and interest you’ve paid

Your bill must be due on the same date each month.

Issuers must mail statements 21 days before your due date.

Frequent Contributor
Posts: 386
Registered: ‎01-20-2012
0

Re: CapOne Statement Date change?

Thanks for the responses. I guess I see why my due date was moved from Sep. 22 (Saturday) to Sep 25 (Tuesday), but not sure about the Oct 2 (Tuesday) change to Oct. 5 (Friday).

 

Thanks again!

Citi Double Cash $15,000 / Barclaycard Rewards $8,900 / CapOne Platinum $7,450 / BofA Cash Rewards Visa Sig $7,000 / BofA BankAmericard Visa $3,500 / eBay MC $5,800 / Chase Freedom $1,500 / Discover It $2,300 / Amex Zync / Lowe's $8,500 / JCP $4,800 / Walmart $5,000 / Amazon $4,100
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: CapOne Statement Date change?

Your title mentions statement date, your text says due date.   Are you confusing the two.

My understanding is that due dates can't change,  while statement dates can and often due.

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Frequent Contributor
Posts: 386
Registered: ‎01-20-2012
0

Re: CapOne Statement Date change?


Wolf3 wrote:

Your title mentions statement date, your text says due date.   Are you confusing the two.

My understanding is that due dates can't change,  while statement dates can and often due.


So sorry, actually both of them changed--my statement date AND my due date for both cards changed by 3 days. Thanks for mentioning the issue!

Citi Double Cash $15,000 / Barclaycard Rewards $8,900 / CapOne Platinum $7,450 / BofA Cash Rewards Visa Sig $7,000 / BofA BankAmericard Visa $3,500 / eBay MC $5,800 / Chase Freedom $1,500 / Discover It $2,300 / Amex Zync / Lowe's $8,500 / JCP $4,800 / Walmart $5,000 / Amazon $4,100

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