HELP!

[djc1puno]

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@Rkalynsmith wrote:
Late? I'm not late. Bill isn't due until 12/6/2013. I wanted to PIF before the statement came out.

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i'm now confused...lol..trying to understand here so i can better give my opinion...you said in your first post that the statement doesn't cut til the 26th of this month? then you say it's due on the 6th of dec? but a new statement has been generated that you got notification for? on your first bill, what was the due date? sorry i'm just trying to grasp your situation

[Rkalynsmith]

LOL okay here it goes. This is the FIRST statement ever. When I received the card from CAP1 they stated to me that the statement will be the 26th of every month. I wanted to pay the balance in full before the statement comes out. Today I received an email stating my Statement was ready! Meaning I wasn't able to pay the balance off before it hit. The DUE DATE is Dec 6. Why did they LIE and say my statement date will be the 26th of every month. Do i have time to pay now before it hits my credit report. My utilization is 40% right now

[djc1puno]

ok so it is the first statement...is it asking for a minimum payment already? if i'm now understanding it correctly, i think you should be ok if you pay your balance off before the due date of your first statement, which is the 6th...do you know if that card is already reporting? usually cap1 won't report to the crs until after your first statement cut off.

[longtimelurker]

Not sure what the confusion is here!   The OP just wanted to PIF before the statement cut, he/she was told that the statement date would be 26 of each month, and now finds out a statement has been generated.   So with others I believe that it is too late, that the balance on that statement is what will be reported (although one poster suggests that payment between now and when they report it will reduce the balance.  Never heard of that but maybe).

But OP, not a great problem, except it sounds like it will prevent you apping this month. Next month will be ok

[FinStar]

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@longtimelurker wrote:

Not sure what the confusion is here!   The OP just wanted to PIF before the statement cut, he/she was told that the statement date would be 26 of each month, and now finds out a statement has been generated.   So with others I believe that it is too late, that the balance on that statement is what will be reported (although one poster suggests that payment between now and when they report it will reduce the balance.  Never heard of that but maybe).

But OP, not a great problem, except it sounds like it will prevent you apping this month. Next month will be ok

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+1

OP - not sure about this whole "LIE" stipulation you made but it's possible that if the account wasn't fully set up when you contacted them that they estimated that date to be the "approximate" closing date.  I doubt they 'lied" about the specifics and perhaps provided just some incorrect information unless some signals got mixed up and your statement truly generated on the 16th vs. the 26th.  At the end of the day, what's done is done.  Thus, the account will report with whatever balance was generated on your statement, and as longtimelurker pointed out above, next month should be fine.  Not the end of the world.

[Rkalynsmith]

A LIE was what it was and what I called it............ANYWHO just got off the phone with CAP1 and the statement date is the 15th of every month even tho they emailed me today saying the statement was ready. My due date is the 12th even tho it says the 9th. This whole operation is messed up. She says they report every 30-60 days so I guess I couldn't get the loan this month even if I wanted too. January? LOL 

[zerobacan]

OP... capone will cut the first stament about 10 days since you are approved for the card. That is what happened to you. CSRs sin by lack of knowledge in our myfico specifics... just wait for the next statement to report...

[09Lexie]

I would suggest looking at the dates on your statement. Emails statements are usually sent out a day or so after the statement cuts. If your statement ended on the 15th, it would be inline with 24-48 hours of you receiving the email.

[TiggerDat]

If you are doing this to get a car loan then you should wait until Jan. anyway since that is the best time to buy a car.  Additionally, if you only have the one Capone card you probably won't get the best rate.  You might need to read a bit more about this and ask some more advice.  When you are at the signon screen there is a nice pamphlet about credit and FICO scoring which you would be better off reading now than putting it off.

[enharu]

if your top priority was to get a car loan at a good rate, you shouldn't have applied for any new accounts right before you were going to get a loan.

Now that the damage is done anyhow, talk to your dealer. Sometimes they can work out some wiggle room as well, since their top priority is to sell the car. If you're 10-20 points away from their best prime rate for example, usually they'll still give it to you.