topic Re: Question about QS1 statement /posting date in Credit Cards

Question about QS1 statement /posting date

cuthatcard — Mon, 28 Nov 2016 17:55:19 GMT

My QS1 statement date is today, Monday . I made a big payment on it yesterday (Sunday ) via my mobile app for it to be paid yesterday , before the statement cuts today .

I can see that it says "pending " , date is for yesterday but they haven't actually "posted" it yet .

My question is :

Will my payment be acknowledged towards the balance before the statement of today ...or...will what's showing today be reported to the CRA'S ?

All of this is for lowering uti...

Re: Question about QS1 statement /posting date

Loquat — Mon, 28 Nov 2016 19:07:37 GMT

If you made a payment yesterday (Sunday) it will post tonight and usually what your balance is after the payment post will be what's reported to the agencies so I think you're safe.

Re: Question about QS1 statement /posting date

rmduhon — Mon, 28 Nov 2016 20:28:39 GMT

I'm not sure about paying on a Sunday, but if I make a payment on the day the statement cuts then that payment is included in the statement that night.

Re: Question about QS1 statement /posting date

cuthatcard — Mon, 28 Nov 2016 22:29:23 GMT

@Loquat wrote:
If you made a payment yesterday (Sunday) it will post tonight and usually what your balance is after the payment post will be what's reported to the agencies so I think you're safe.

I can see , via my online banking , that Cap1 is deducting it today but at their website , it still shows the same balance as yesterday .

This is at 5:25 pm, EST...so, it looks like it going but this is the 1st time they've not posted in the daytime since I've had the card. Quite unusual !

Re: Question about QS1 statement /posting date

cuthatcard — Mon, 28 Nov 2016 22:36:17 GMT

Just to be clear , this is not my due date, it the day the statement cuts .

I wanted to pay down the balance BEFORE the statement cut, so...this is what's confusing me of how they're handling this.

As I said, every other time I've paid, it says for the DAY...I make the payment , then they take it out the next day, during business hrs.

Today , after hrs, it's still not showing the payment as "posted " !

Re: Question about QS1 statement /posting date

Anonymous — Mon, 28 Nov 2016 22:46:11 GMT

Sundays can be tricky for any banking type transaction and on top of that being the statement cut date, over a holiday weekend....are you asking for a headache?😃

Seriously, I'd be careful cutting it that close... because any hiccups are gonna favor THEM not you, any banking institution can run the ole 'the weekend stuff' settles as a Mon night/Tuesday morning transaction and it can be argued that that is a widely known and accepted practice for years and years.

Just saying watch yourself, a company could easily post a payment like that on either side of the cut off and stand firm, although you may have wanted it the other way.

Besides the credit reporting, would have already been sent based upon their initial thought pattern anyway, that bell would have been rung.

Re: Question about QS1 statement /posting date

cuthatcard — Tue, 29 Nov 2016 01:02:39 GMT

@Anonymous wrote:
Sundays can be tricky for any banking type transaction and on top of that being the statement cut date, over a holiday weekend....are you asking for a headache?😃

Seriously, I'd be careful cutting it that close... because any hiccups are gonna favor THEM not you, any banking institution can run the ole 'the weekend stuff' settles as a Mon night/Tuesday morning transaction and it can be argued that that is a widely known and accepted practice for years and years.

Just saying watch yourself, a company could easily post a payment like that on either side of the cut off and stand firm, although you may have wanted it the other way.

Besides the credit reporting, would have already been sent based upon their initial thought pattern anyway, that bell would have been rung.

This ^^^^, may be true, but, I have the email from them stating that the payment is " scheduled" for the 27, ( Sunday -yesterday ) and I sure will watch myself the next time !

With their email, that bell should ring both ways !

Thanks for your guys help, I'll be better prepared , next time !

Re: Question about QS1 statement /posting date

Anonymous — Tue, 29 Nov 2016 01:33:04 GMT

You'll be fine...no doubt
No one is gonna try a late payment or anything

The only issue would be if you NEEDED a certain ration reported or were trying to BEAT a certain date for % charges, something like that, otherwise no biggie

Re: Question about QS1 statement /posting date

cuthatcard — Tue, 29 Nov 2016 02:43:18 GMT

I know , I just wanted to lower my uti with Cap ( its at 37.7 %) before the statement cut, that's all !

Re: Question about QS1 statement /posting date

cuthatcard — Wed, 30 Nov 2016 16:31:41 GMT

Well, after wondering all this week, looks like I did get this payment in before the statement cut !

Close, so I'll be sure to watch it from here on out. wanna be able to keep my uti down on the reporting date !

Thanks guys, for replying !