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Capital One Help

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Anonymous
Not applicable

Capital One Help

I hope im posting in the right forum.......if not im sorry!!

I have had my Capital One Secured since 4/14, my plan is to close it in a year or two once I am able to get better cards. Well every month I usually charge it up then pay it off completely (or close) before the statement cuts. Well this month I got it up to $191.00 and I usually make the payment online through my bank account (on C1's website) Im in the process of switching banks and this morning just made the full payment of $191 through a bill payment service. (The $2.00 charge stinks BTW) I was offered express but I said the normal time was fine. My statement doesnt cut till night time of the 11th. (I use to think the 12th but on my CR's its the 11th and around 8pm on the 11th I can log online to see a new statement cycle) well I get home look at the receipt to make sure the card number is right on it and I realize the payment posting date is the 12th because the 11th is a Holiday!!! I had NO clue! So now im freaking out. I cant let the statememt cut with a balance and especially with a $191/$200 balance!!

I read somewhere that I can call Capital One with the reference number and they can call the bill payment company, verify the payment, and post it early. Does anyone have any experience with this? Im about to call to see what I can do....I was thinking of making another payment today (express or through C1's website of the $191 to make sure its paid before my statement cuts but then I will be -$191.00 once my other payment comes through and I dont know if Capital One will be okay with that. Im such a idiot and just going crazy now Smiley Sad
Message 1 of 4
3 REPLIES 3
waters
Regular Contributor

Re: Capital One Help

Remember the simple fact that the only people in the world that religiously pic before their statement cuts are people on myfico.

Ask all of your friends with perfect credit and they will tell you they wait for the bill and pay... Like.. Normal people.

6/2014; EX:621 EQ:627 TU:640
Cards: Capital One WORLD MC (QS): $7500 | Chase Freedom $3500
Sock: Merrick Bank $600 | Barclaycard $1250 | Sportsman's guide visa $2500

Message 2 of 4
lg8302ch
Senior Contributor

Re: Capital One Help


@waters wrote:
Remember the simple fact that the only people in the world that religiously pic before their statement cuts are people on myfico.

Ask all of your friends with perfect credit and they will tell you they wait for the bill and pay... Like.. Normal people.


+1

if this is a 1 time thing of max out your card that is not a big deal. What I would recommend though is NOT to report 0 balance all the time but pay down to less than 20$ and let that amount report. Fico does not like 0 balances on all accounts and if this is the only card then you should rather let a small amount  1-9% report every month.

But for this time do not worry too much about that... most important never be late !

 

PS: Fico does not have a memory. So the points you are loosing for a maxed out card you will get back as soon as the balance is paid down again. If you are using SW as monitoring you can see it as a test to see what impact utilization has and it might be an interesting experiment. 

Message 3 of 4
Anonymous
Not applicable

Re: Capital One Help

Thank you both so much. I dont let any cards report a balance besides 1 a month. Its normally my capital one secured that reports a small balance every month while the others report 0 but last month I had both capital one and credit one both report a small balance (utilization went from 1% to 5% when the credit one reported with the capital one, so it was still under the 10%) but my experian took a 2 point hit and equifax took a 7 point hit so I wanted to get capital one to report a 0 balance so the only card now reporting is my credit one. The only time any of my cards have been reported maxed out was when I first got my secured I used it and didnt know anything about credit so the first month it reported a $180 balance the very next month I read about everything and paid it down to a couple of dollars and it has been that way every since.

I also got it figured out. I was able to go down to the store where I made a bill payment (im close friends with the owners) and they were able to cancel the payment and resubmit it as express (now a $4.95 fee) but when I woke up this morning the payment was already there with a 0 balance! Thank you both again.
Message 4 of 4
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