Zero APR ending - Need help with WHEN interest is applied

[pacem_et_libertatum]

Hello Friends ...

I have been managing my Cap One card wonderfully and paying more than the minimum every month for over 6 months now. 

My 0 APR is "UNTIL NOVEMBER".  My question is about when exactly the interest will be applied.

My plan was to have balance PIF by the due date of  November 16th to avoid all interest charges,  however, I'm wondering if Cap One will be calculating interest at the time of my October statement (which generates the balance due in November)..... Or, if interest will charges will begin in November at the statement date and thus avoidable if PIF in December. 

Does anyone know how this works exactly? 

I have read that the end date of my intro apr should be on my statment and/or original paperwork, but it is not shown!  The only info that I have from them is that 0 % is "UNTIL (not 'thru') NOVEMBER", but I'm not sure what that means as far as when the interest is applied.

Can anyone help? 

Thank you in advance for any insight or experience you can offer!

Pacem

P.S.

 EDITED ... An easier way to ask my question would be .. If I have 0% due 'until Nov', will there be interest on my Oct statement (with balance due Nov), OR, interest showing on Nov statement (with balance due Dec)?

[Anonymous]

My QS1 was 'until September' and I PIF'd the statement that cut in August and September both (due dates were September 3 and October 3, respectively - PIF'd August 31 and September 30 for each of those statements), just to be sure.  The statement that cut at the beginning of September still showed that purchases were under a 0% interest charge.

HOWEVER, I ended up being hit with interest this month -- I called to ask about it and it was removed and my grace period was reset without too much effort -- apparently because I changed my due date several months ago it messed with my grace period somewhere.  So while I'm not entirely sure I'd take care of paying in full this month just to be safe.

[pacem_et_libertatum]

Tx much for the reply, Michikade!

I see that changing your due date might make things (interest due date) different in your case, but it seems based on what you shared, that 'until Sep' might mean interest *starts to accrue in that month* (and due in Oct), rather than calculated using Aug statement amount (which would be due in Sep).  

If so this is good news.  Very glad you got your interest waived!  Thanks again for sharing!

Anyone else?

[pipeguy]

Have you checked your statement? Although I've closed all my Cap-1 cards (I won't get into it), most 0% promo statements show the exact date for the end of the promotion. At least Chase - Barclays - WF - BB&T (etc) do for my accounts. If Cap-1 does hit you for a few days interest it'll only be for the few days between your ending date and payment dates and like the previous poster mentioned they'll probably "good will" credit that if asked.

On the other hand 0% retroactive promotional interest offers from Walmart, Amazon, CareCredit, Firestone, Blispay, etc will hit you for ALL previuosly "earned-deferred" interest if you don't pay in full by the expiration date (I know this is not the same as the Cap-1 0% intro rate promo) so THOSE are the ones you/we really have to watch. 

[pacem_et_libertatum]

Hi Pipeguy..

Yes, I checked very carefully online statement and booklet sent with card, and there's nothing.  I wonder if maybe the dates are only inluded on paper statements?

Thanks for the other ideas!

Pacem..

[pacem_et_libertatum]

Update:   An easier way to ask my question would be .. If I have 0% due 'until Nov', will there be interest on my Oct statement (with balance due Nov), OR, interest showing on Nov statement (with balance due Dec)?

[gdale6]

Hi there OP,

I have removed your cross posts on this from the BK & RYC forums, please refrain from doing this in the future it can lead to confusion by the members and its not inline with our TOS. I thank you for your understanding on this.

[pacem_et_libertatum]

My apologies..Tx 4 advising!

[pacem_et_libertatum]

Anyone else able to advise/share?

Thanks kindly..

Pacem

[pacem_et_libertatum]

*Friendly bump*