topic Re: Cap One and a ! day late payment in Credit Cards

Cap One and a 1 day late payment

Cheryla18 — Sat, 21 Apr 2018 15:14:49 GMT

Looking for info from the experts. I messed up and didn't make my payment on its due date for Cap One. How much damage does this do with them in reagards to future CLI increases? I am just kicking myself right now ***** Edit ***** Just wanted to Clairify it was a horrible oversight. I had the Money to make the payment.*****

Re: Cap One and a ! day late payment

Anonymous — Fri, 20 Apr 2018 01:49:49 GMT

they will charge you late fees $37 but you can call and try to remove it . but they wont report it unless you are over 29 days late

Re: Cap One and a ! day late payment

Anonymous — Fri, 20 Apr 2018 02:36:20 GMT

Stop kicking yourself and setup autopay, if not for the full statement balance at least for the minimum payment so something like this will never happen again. It will not report to the CRAs but it will be on your internal record, I don't know if it will specifically affect your CLI but be prepare for late fee and penalty APR to be applied.

Re: Cap One and a ! day late payment

cjane1 — Fri, 20 Apr 2018 13:42:19 GMT

I have paid Capitol a couple of days late too. I called and asked if they could please take it off and they did. It just depends on who you talk to and if you pay on time on past payments.

Re: Cap One and a ! day late payment

SomewhereIn505 — Fri, 20 Apr 2018 14:20:14 GMT

@Cheryla18 wrote:
Looking for info from the experts. I messed up and didn't make my payment on its due date for Cap One. How much damage does this do with them in reagards to future CLI increases? I am just kicking myself right now

I've done this a few times (unfortunately). My penalty was 6 months. They will not allow me to combine my 2 accounts into a single account because of this issue on February. Grrrrr....

Re: Cap One and a ! day late payment

Anonymous — Fri, 20 Apr 2018 14:34:51 GMT

Auto-PAY! banks won't keep removing fee's.

Re: Cap One and a ! day late payment

AverageJoesCredit — Fri, 20 Apr 2018 14:41:08 GMT

I know a lot of people want to recommend auto pay but some of us live paycheck to paycheck.

Just remember you are coming off a bk so any lates don't look good. If you are going to use your credit cards just remember to set aside the money you'll need to at least make your minimum payment and don't touch it. Good luck with your journey

Re: Cap One and a ! day late payment

Anonymous — Fri, 20 Apr 2018 15:40:19 GMT

If you do autopay with Capone, I would highly advise opting in to pay the minimum balance (as a safety net) opposed to the option to pay the statement in full. I just went through this with Capone, but with their statement balance option selected, even if you paid your previous balance in full before the autopay date, WHATEVER YOUR CURRENT BALANCE IS AT THE TIME OF YOUR AUTOPAY, THEY WILL DEDUCT FROM YOUR BANK ACCOUNT.

Every other card I have will cancel the autopay if my statement balance is $0. Not Capital One. So to avoid that from happening, I set up minimum pay — again, as a safety net — I always pay my balance in full before.

Re: Cap One and a ! day late payment

Anonymous — Fri, 20 Apr 2018 16:09:41 GMT

I have no personal experience with Capital One, but most issuers will remove late fees if it's less than three days and it's a one-time thing. I wouldn't guess that Capital One is any different.

I'm going to repeat what many others have said on here: You absolutely should set up auto-pay, at least for the minimum payment, so this doesn't happen again.

To answer your question about the impact this will have on you: As far as I know, late payments do not appear on your credit report unless it's 30+ days late, but it probably will be a setback as far as Capital One is concerned. They're not going to close all of your accounts or deny you CLIs forever because you were a day late once, but you may have to wait a few more months than you otherwise would have for that CLI (especially since you're coming off a BK). Setting up auto-pay may help this as well, since you're showing them that you don't intend to make this mistake again. This is all just me guessing though, since I don't work for Capital One or any CC company.

Re: Cap One and a ! day late payment

Anonymous — Fri, 20 Apr 2018 17:13:19 GMT

Why did you not pay ontime, just curious? Forgot? Paycheck dates?

Re: Cap One and a ! day late payment

cjane1 — Fri, 20 Apr 2018 18:48:58 GMT

I forgot that autopay doesn't go into effect right away, it takes 2 billing cycles to start taking it out. I got an email about a missed payment and called them. I made the payment with the rep and asked if they could take off the charges and they did. We've had a card with them for over 3 yrs and have never been late except that one time.

Re: Cap One and a ! day late payment

Anonymous — Fri, 20 Apr 2018 19:26:23 GMT

I did that back in September. Not even one day late but just a couple hours. But yeah, they may remove the late fee but I had to wait a couple months (January) to combine accounts and PC to a QS. Definitely autopay on EVERY account since then. I love it. Peace of mind. Just set it up for the minimum so your covered in case you forget.

Re: Cap One and a ! day late payment

Anonymous — Sat, 21 Apr 2018 06:34:38 GMT

@Anonymous wrote:
Why did you not pay ontime, just curious? Forgot? Paycheck dates?

Wondering the same OP is coming off a BK so any missed payments is going to catch them up

in more credit troubles auto-pay really is best however if you overdraw an account that won't be any

help to you OP. also maybe SD the credit cards for awhile just helping.

Re: Cap One and a ! day late payment

Loquat — Sat, 21 Apr 2018 09:09:09 GMT

@AverageJoesCredit wrote:
I know a lot of people want to recommend auto pay but some of us live paycheck to paycheck.

Just remember you are coming off a bk so any lates don't look good. If you are going to use your credit cards just remember to set aside the money you'll need to at least make your minimum payment and don't touch it. Good luck with your journey

AJC I know what you mean because there was a time in my life when I to lived paycheck to paycheck. But in this situation, living P2P doesn't really matter as the minimum has to be paid if one wishes to remain in current status. So in any instance, for the sake of not ruining your credit and avoiding late fees as well as creating internal risk that a late payment can create, Auto Pay for the minimum amount due is a great idea regardless of how one gets paid.

If you have a lender who will take the auto payment even if a satisfying payment is made prior to due date then one must remember to go to the next screen and cancel auto pay for that particular billing period. Is it an extra step, sure, but it's a heck of a lot better than messing with ones own internal risk score with a lender as well as avoiding a $29+ late charge. Just my 2¢...