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Is this correct? (Interest charge)

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j_casteel
Valued Contributor

Is this correct? (Interest charge)

Paid Cap1 in full on December 29th. Bill is due on January 13th. Statement cuts January 16th. Today I got hit with an interest charge.

I thought me PIF ~2 weeks before the due date and statement cuts should negate any interest charges?
Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 1 of 8
7 REPLIES 7
Croselx
Contributor

Re: Is this correct? (Interest charge)

Some transactions have interest charged from the day they are made (like cash advances) maybe your transactions fell in one of these categories?

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Message 2 of 8
j_casteel
Valued Contributor

Re: Is this correct? (Interest charge)

That makes since but haven't ever had a cash advance on there and the most recent charges were xbox live and myfico. Guess ill double check everything and then contact them.
Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 3 of 8
j_casteel
Valued Contributor

Re: Is this correct? (Interest charge)

Actually this wasn't the card I used on Xbox. The only thing purchased on this has been myfico. The last regular (store) purchase was 11/15/2012. I can only go back so far on my phone but there are no charges that I seem where interest should have starting accruing immediately. I have basically stopped using this card. Then I PIF in December with the hopes of just canceling it. I'll just call/chat with Cap1 and see what the deal is because I didn't see any purchase from last August to today that should have interest.
Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 4 of 8
j_casteel
Valued Contributor

Re: Is this correct? (Interest charge)

Figured it out....even though I usually PIF. I let a small amount report last month. So the agent said that it was accrued interest from 2 months ago.

 

Oh, well....I owe them ~$4 now. I will PIF and once the AF is about to hit in March I'm going to cancel the card anyways. 

Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 5 of 8
where-am-i
New Member

Re: Is this correct? (Interest charge)

Yea it ain't just about the most recent statement or charges. You have to watch out for the December statement as well. Make sure you paydown the whole amount from previous statement.


Starting score: 666
Current score: 806 EQ FICO
Target score: 815+
Message 6 of 8
Epcot
Valued Contributor

Re: Is this correct? (Interest charge)

Glad it was something simple. Always a good feeling to PIF! Smiley Happy

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 849 EX 835 TU 841
Message 7 of 8
nicholasyud
Valued Contributor

Re: Is this correct? (Interest charge)

Capital One good at charge interest with cash advance and such thing so please double no triple check your bill every months for some weirdo interest charge

Starting Score: 560
Current Score: ?
Goal Score: 800
Message 8 of 8
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