topic Re: Statement cut off time - Cap One in Credit Cards

Statement cut off time - Cap One

Anonymous — Fri, 15 Nov 2019 15:21:31 GMT

I know my statement cut off date is today.

I have a discover card as well and can pay it by 5pm eastern time on the statement cut date and it will be there.

Anyone know the cut off time for Cap One?

I don't want to pay it today if they cut first thing in the morning as it will do me no good regarding utilization.

Thanks in advance for any help regarding this matter.

Re: Statement cut off time - Cap One

Anonymous — Fri, 15 Nov 2019 15:35:03 GMT

It's 8PM EST to post today.

Re: Statement cut off time - Cap One

Anonymous — Fri, 15 Nov 2019 15:47:22 GMT

Can I ask you where you found this? I looked on capone website but couldn't find it.

Thanks!

Re: Statement cut off time - Cap One

Anonymous — Fri, 15 Nov 2019 15:51:27 GMT

@Anonymous wrote:
Can I ask you where you found this? I looked on capone website but couldn't find it.

Thanks!

I know from experience. The last day of the statement cycle, Capital One closes it at midnight but their payment cut off time is 8PM and if you don't have the payment in before that, it won't be posted on your statement and it won't be updated with the credit bureau. I haven't tested this recently but I did go check and they still have that same 8PM cut off so I would assume that the midnight cut off hasn't changed either.

Re: Statement cut off time - Cap One

Anonymous — Fri, 15 Nov 2019 16:23:13 GMT

Just out of curiousity is that 8 Eastern, 8 where Cap 1 is (which may well be Eastern), or 8 PM where the cardholder is domiciled?

Re: Statement cut off time - Cap One

Anonymous — Fri, 15 Nov 2019 16:28:15 GMT

@Anonymous wrote:
Just out of curiousity is that 8 Eastern, 8 where Cap 1 is (which may well be Eastern), or 8 PM where the cardholder is domiciled?

8 EST as I said in the original post.

Re: Statement cut off time - Cap One

Anonymous — Fri, 15 Nov 2019 17:22:23 GMT

Make sure you have enough time to fix a payment gone wrong, etc. Shots at the buzzer are exciting in basketball, but too many things can go wrong with CC payments. Website goes down 5 min prior, payment request got lost, you though you hit the Submit button after the Verify button, etc. At least one day cushion is good, because you can check the next day to see if the payment shows on the site. I've had a couple take 2s where I have more than enough time to correct the payment that didn't go through.

Re: Statement cut off time - Cap One

Anonymous — Fri, 15 Nov 2019 17:40:42 GMT

@Anonymous wrote:
Make sure you have enough time to fix a payment gone wrong, etc. Shots at the buzzer are exciting in basketball, but too many things can go wrong with CC payments. Website goes down 5 min prior, payment request got lost, you though you hit the Submit button after the Verify button, etc. At least one day cushion is good, because you can check the next day to see if the payment shows on the site. I've had a couple take 2s where I have more than enough time to correct the payment that didn't go through.

Yep. Whenever you wait til the last minute, it seems like everything goes wrong.

Fortunately it seems like OP is just trying to micromanage utilization and it's not a case of being late.

Re: Statement cut off time - Cap One

HeavenOhio — Fri, 15 Nov 2019 18:06:46 GMT

Capital One has been known to cut off at the start of the statement cut date rather than the end. I've also seen it from Chase. I haven't figured out what might trigger this. But the last two times this has happened to me, the statement cutoff has been on a weekend.

My gut says that if your statement hasn't yet closed, you should be fine if you make a payment by the close of business today.

Re: Statement cut off time - Cap One

professorr — Fri, 15 Nov 2019 21:42:19 GMT

All Crecit Card Cutoff times should be 11:59pm period. I think there was talk years ago of making it a law but never happened. Anyways, alot of people run the clock in making payments (sad but true) and this 5pm cutoff time and crap is only there to make banks money by collecting late fees. It's an utter scam. Cap One should be changing it to midnight but a majority of their customers are of lesser credit and likelyhood to collect late fees is probabbly a billion $$ business for them.

Re: Statement cut off time - Cap One

Anonymous — Sat, 16 Nov 2019 00:48:39 GMT

I’m not late on my payment!

I’m micromanaging for utilization.

Thanks for the concern though.

Re: Statement cut off time - Cap One

Anonymous — Sat, 16 Nov 2019 02:02:13 GMT

@Anonymous wrote:
I’m not late on my payment!

I’m micromanaging for utilization.

Thanks for the concern though.

Curious, how long have you done it that way, and how many points do you think you are saving?

Re: Statement cut off time - Cap One

Anonymous — Sat, 16 Nov 2019 21:56:09 GMT

I don’t know to be honest. I try to keep my utilization under 9%. A lot of times I pay my minimum payment first, days before it’s due, then I make the large payment the day before the statement cuts.

In this case it was the cap Walmart card so it was a new cut date because of the migration.

That’s why I was curious in this instance.

Re: Statement cut off time - Cap One

Anonymous — Sat, 16 Nov 2019 23:48:41 GMT

@Anonymous wrote:
I don’t know to be honest. I try to keep my utilization under 9%. A lot of times I pay my minimum payment first, days before it’s due, then I make the large payment the day before the statement cuts.

In this case it was the cap Walmart card so it was a new cut date because of the migration.

That’s why I was curious in this instance.

If it was the Walmart card, I don't know that it's the same times for cobrands. Please keep us posted.

Re: Statement cut off time - Cap One

staticvoidmain — Sun, 17 Nov 2019 00:02:15 GMT

@Anonymous wrote:
Anyone know the cut off time for Cap One?
Thanks in advance for any help regarding this matter.

@Anonymous wrote:
Can I ask you where you found this? I looked on capone website but couldn't find it.

It's in your statement.

Re: Statement cut off time - Cap One

Anonymous — Sun, 17 Nov 2019 00:05:53 GMT

Just to let everyone know... it worked.

Made my payment yesterday at 3 and statement this morning was updated accordingly.

Thanks for your help guys!

Re: Statement cut off time - Cap One

Anonymous — Sun, 17 Nov 2019 00:23:51 GMT

@Anonymous wrote:
I don’t know to be honest. I try to keep my utilization under 9%. A lot of times I pay my minimum payment first, days before it’s due, then I make the large payment the day before the statement cuts.

In this case it was the cap Walmart card so it was a new cut date because of the migration.

That’s why I was curious in this instance.

If you at least make the minimum payment on each card, your risk of being late is eliminated. Otherwise, that would be a lot of timekeeping and work to remember what time a payment is due, especially if you are out enjoying yourself and forget.

Re: Statement cut off time - Cap One

Anonymous — Sun, 17 Nov 2019 03:57:23 GMT

I always pay minimum payment before due date. I’ve said so many times and keep getting reminders to so from this post. I don’t need that help you guys and that’s not what I asked for in the first place. Thanks for your concern however it’s not warranted.

Not that’s it’s anyone’s business but I have a spreadsheet and it takes me 5min/week to update it. So I’m not wasting TOO MUCH of MY OWN TIME.

Side note: think about how you’re replying. I’ve been on this forum for a while but some newbies could see this as uninviting/rude and leave.

Rant Over.

Re: Statement cut off time - Cap One

Anonymous — Sun, 17 Nov 2019 04:55:55 GMT

@Anonymous wrote:
I always pay minimum payment before due date. I’ve said so many times and keep getting reminders to so from this post. I don’t need that help you guys and that’s not what I asked for in the first place. Thanks for your concern however it’s not warranted.

Not that’s it’s anyone’s business but I have a spreadsheet and it takes me 5min/week to update it. So I’m not wasting TOO MUCH of MY OWN TIME.

Side note: think about how you’re replying. I’ve been on this forum for a while but some newbies could see this as uninviting/rude and leave.

Rant Over.

To be honest, your question is a bit unorthodox in that it appears that you were trying to wait until the last minute to pay your CC bills. I was curious as to what the benefit was, because on the surface, its risky, and I had to assume that there was much to gain in order to assume that much risk. To me, it didn't seem that there was much upside to doing so, and maybe you knew something that I didn't.. You stated that you didn't even know how much it is helping you. Then you clarified in message #13 that a lot of times you paid the minimum days before and then a larger sum before the cutoff time. Now you say you ALWAYS pay the minimum first before the larger sum before the cutoff time. Added some confusion there.

If you were paying BEFORE the statement cuts, not sure why the minimum payment a few days before is even needed, because you won't be late if you do miss the cutoff time. Once it cuts, paying the minimum first, and then a larger sum just before the DUE date makes sense.

There was a little confusing information presented to me when I was trying to figure out the benefit of your payment habits. But I can see from your responses that you are coming across defensive in your replies to me and others.

Re: Statement cut off time - Cap One

Anonymous — Sun, 17 Nov 2019 05:11:35 GMT

My first post here indicated and was later clarified that I was asking regarding utilization.

I always pay the minimum usually a week before my due date. Then there is usually a four to five window between the due date to statement cut date. We can all agree on that time frame on this board. (Rough estimate)

I think you were reading into something wrong. I never said I needed to pay my min by the cut date. I was asking because I wanted to make sure 76% utility wasn’t reported to the bureaus if I could still do it by a certain time specially on the statement cut date.

I get paid every week and try to make each card have 9% or less by the time they cut and report.

I never asked help about due dates so I don’t understand the confusion.

All I keep reading on here is pay your minimums and that’s not advice I asked for.

With that said I’ll just mosey back over to rebuilding where things aren’t misconstrued so apparently.

I don’t think we were even reading the same thread!!!!!

And by the way I wasn’t defensive to anyone but you CardNut. And it was within my last two replies.

But my explanation and if you reread the thread should indicate why.