topic Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO in Credit Cards

Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

NoHardLimits — Sat, 17 Oct 2020 18:58:57 GMT

I don't think I've seen this posted on this forum yet. Moderator, please move if there is already a thread for this topic.

I just received my Capital One statement for October 2020 and saw a message about them changing my billing cycle end date. My due date will remain the same, but the statement date will now be 25 days before the due date. This is something to be aware of for people trying to observe AZEO. Here is the exact quote:

----------

We're Making a Change to Your Billing Cycle End Date as of November 1, 2020

Starting with your next statement, the time between the last day of your Billing Cycle ("Cycle End Date") and your Payment Due Date will be 25 days each month (instead of 25 to 28 days depending on the month).

Your Payment Due Date will stay the same. However, your Cycle End Date and the day on which your Periodic Statement becomes available may change. In some months your Cycle End Date could be up to 3 days later than your current Cycle End Date. This is because the number of days in each month varies.

Recurring Charges and Payments - If you have set up monthly recurring charges or payments that are scheduled within a few days of your Cycle End Date, they may not post in the Billing Cycle and Periodic Statement you expect. For example, two payments could both post in one Billing Cycle instead of being posted across two Billing Cycles. You can determine your Cycle End Date for each month by counting back 25 days from your Payment Due Date. Please review your recurring payments and charges to ensure they will post to your account in the desired Billing Cycle.

If your account is enrolled in AutoPay with Capital One, those payments will continue to post on your Payment Due Date as usual without interruption.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

Anonymous — Sun, 18 Oct 2020 02:52:15 GMT

I hope you are not practicing AZEO as your credit stats don't warrant the need for it at all. This should result in no issue for you at all.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

cr101 — Sun, 18 Oct 2020 09:35:27 GMT

No answer for you, but I'm wondering why they're doing this. Did you request it? Is it a new account? Did you move?

Was this only listed on your statement or did you also get an email?

I'm concerned that they'll randomly do this to me and screw up my util. I actually requested a closing/due date change once and they ended up not reporting to the bureaus for one month.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

Anonymous — Sun, 18 Oct 2020 10:59:19 GMT

@NoHardLimits wrote:
I don't think I've seen this posted on this forum yet. Moderator, please move if there is already a thread for this topic.

I just received my Capital One statement for October 2020 and saw a message about them changing my billing cycle end date. My due date will remain the same, but the statement date will now be 25 days before the due date. This is something to be aware of for people trying to observe AZEO. Here is the exact quote:
----------
We're Making a Change to Your Billing Cycle End Date as of November 1, 2020

Starting with your next statement, the time between the last day of your Billing Cycle ("Cycle End Date") and your Payment Due Date will be 25 days each month (instead of 25 to 28 days depending on the month).

Your Payment Due Date will stay the same. However, your Cycle End Date and the day on which your Periodic Statement becomes available may change. In some months your Cycle End Date could be up to 3 days later than your current Cycle End Date. This is because the number of days in each month varies.

Recurring Charges and Payments - If you have set up monthly recurring charges or payments that are scheduled within a few days of your Cycle End Date, they may not post in the Billing Cycle and Periodic Statement you expect. For example, two payments could both post in one Billing Cycle instead of being posted across two Billing Cycles. You can determine your Cycle End Date for each month by counting back 25 days from your Payment Due Date. Please review your recurring payments and charges to ensure they will post to your account in the desired Billing Cycle.

If your account is enrolled in AutoPay with Capital One, those payments will continue to post on your Payment Due Date as usual without interruption.

I checked my emails and got nothing there, but just downloaded my most recent statment (for Oct) amd it is the very last page.

Looks like it is across the board.

Thanks or that would have messed up my AZEO and left me wondering why?!

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

cr101 — Sun, 18 Oct 2020 11:30:44 GMT

@Anonymous wrote:
@NoHardLimits wrote:
I don't think I've seen this posted on this forum yet. Moderator, please move if there is already a thread for this topic.

I just received my Capital One statement for October 2020 and saw a message about them changing my billing cycle end date. My due date will remain the same, but the statement date will now be 25 days before the due date. This is something to be aware of for people trying to observe AZEO. Here is the exact quote:
----------
We're Making a Change to Your Billing Cycle End Date as of November 1, 2020

Starting with your next statement, the time between the last day of your Billing Cycle ("Cycle End Date") and your Payment Due Date will be 25 days each month (instead of 25 to 28 days depending on the month).

Your Payment Due Date will stay the same. However, your Cycle End Date and the day on which your Periodic Statement becomes available may change. In some months your Cycle End Date could be up to 3 days later than your current Cycle End Date. This is because the number of days in each month varies.

Recurring Charges and Payments - If you have set up monthly recurring charges or payments that are scheduled within a few days of your Cycle End Date, they may not post in the Billing Cycle and Periodic Statement you expect. For example, two payments could both post in one Billing Cycle instead of being posted across two Billing Cycles. You can determine your Cycle End Date for each month by counting back 25 days from your Payment Due Date. Please review your recurring payments and charges to ensure they will post to your account in the desired Billing Cycle.

If your account is enrolled in AutoPay with Capital One, those payments will continue to post on your Payment Due Date as usual without interruption.
+1

I checked my emails and got nothing there, but just downloaded my most recent statment (for Oct) amd it is the very last page.

Looks like it is across the board.

Thanks or that would have messed up my AZEO and left me wondering why?!

My Oct statement hasn't cut for 1 of my cards. But, it's on my other 2 Oct statements. Thanks for the heads up and the reminder that I should check my actual statement and not just the charges in the portal.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

Anonymous — Sun, 18 Oct 2020 20:09:12 GMT

There's no real benefit to AZEO unless you're going for a mortgage anyway but it's lame that they're cutting the grace period down.

My card statements won't come out until the 25th and it's not on my September statement. I don't see how they can get away with changing this without sufficient notice though. I would think this would constitute a change in terms and require 45 days notice under the CARD Act.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

Curious_George2 — Sun, 18 Oct 2020 20:22:52 GMT

Thanks for posting this, OP.

I don't practice AZEO, so this won't have any tangible effect on me, but I do practice OCD and that part of me is a little sad about this change. I liked the reliability of my CapOne statement date always being on the same day of each month, no matter what. Goodbye to all that.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

cr101 — Sun, 18 Oct 2020 20:28:21 GMT

@Anonymous wrote:
There's no real benefit to AZEO unless you're going for a mortgage anyway but it's lame that they're cutting the grace period down.

My card statements won't come out until the 25th and it's not on my September statement. I don't see how they can get away with changing this without sufficient notice though. I would think this would constitute a change in terms and require 45 days notice under the CARD Act.

What I don't like about it is the loss of the simplicity. I loved that the closing date stayed the same each month for each of my cards. Knew them by heart. Now, I'll have to break out an Excel sheet, which I've already created, by the way. lol

And, I hope it's not one of those cards that close in x days, unless it falls on [random condition]. I always love it when that happens with Synch and my payment doesn't make it on time before the statement cuts.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

NoHardLimits — Sun, 18 Oct 2020 22:12:56 GMT

@Anonymous wrote:
I hope you are not practicing AZEO as your credit stats don't warrant the need for it at all. This should result in no issue for you at all.

I actually don't practice AZEO. I mainly posted this information as a heads up for the general MyFico population. For me personally, I just try to have less than half of my open tradelines reporting a balance.

I did not do anything to initiate this date change. I just happened to notice the announcement when I downloaded my statement. As others have mentioned, it's just a bit of a nuisance as it used to be easy to remember the statement cut date.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

Anonymous — Sun, 18 Oct 2020 22:37:33 GMT

@cr101 wrote:
@Anonymous wrote:
There's no real benefit to AZEO unless you're going for a mortgage anyway but it's lame that they're cutting the grace period down.

My card statements won't come out until the 25th and it's not on my September statement. I don't see how they can get away with changing this without sufficient notice though. I would think this would constitute a change in terms and require 45 days notice under the CARD Act.
What I don't like about it is the loss of the simplicity. I loved that the closing date stayed the same each month for each of my cards. Knew them by heart. Now, I'll have to break out an Excel sheet, which I've already created, by the way. lol

And, I hope it's not one of those cards that close in x days, unless it falls on [random condition]. I always love it when that happens with Synch and my payment doesn't make it on time before the statement cuts.

My statement cut. I checked my statement and it applies to me as well, probably across the board. I too have closing dates memorized, but it's no big deal. I get notifications when my statement cuts.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

Guyatthebeach — Mon, 19 Oct 2020 01:06:23 GMT

I'm at the point in my life where I don't worry doing the AZEO process anymore, but I can definitely understand how annoying it can be whe. You are used to the same statement cut off date. I'm sure I will get my letter for my Capital One cards soon.

Guyatthebeach

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

staticvoidmain — Mon, 19 Oct 2020 12:46:51 GMT

At least they are sending a notice. Citi changed their formula this year and it took me at least half a year of data to figure out that they modified/added if-else conditions to Saturdays, Sundays, Mondays, and Tuesdays. (If X is Saturday, move to Friday, If X is Sunday, Monday, or Tuesday, move to Wednesday. X is due date minus 28 days).

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

cr101 — Mon, 19 Oct 2020 13:53:20 GMT

@staticvoidmain wrote:
At least they are sending a notice. Citi changed their formula this year and it took me at least half a year of data to figure out that they modified/added if-else conditions to Saturdays, Sundays, Mondays, and Tuesdays. (If X is Saturday, move to Friday, If X is Sunday, Monday, or Tuesday, move to Wednesday. X is due date minus 28 days).

Citi posts the closing date in the portal, which is great. I wish that Synch did that. Can you confirm that the Citi date in the portal is always right? It takes the if-else conditions into consideration or does it just subtract x days from the due date? I tend to pay them day before statement cut since payments post the same day. Now, I'm nervous lol...If they knew how OCD we were about our credit, we'd probably be their best customers.

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

Anonymous — Mon, 19 Oct 2020 13:56:58 GMT

I also got this when my bill cut this month. What is AZEO? Should I be worried?

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

OmarGB9 — Mon, 19 Oct 2020 15:38:05 GMT

@Anonymous wrote:
I also got this when my bill cut this month. What is AZEO? Should I be worried?

AZEO is All Zero Except One. It means paying off all credit cards except for one, and on that one you leave a small balance of <9% of the limit. And should you be worried about what?

Also, I too got this notice. Kinda annoying since I had all my due dates and statement dates down..

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

staticvoidmain — Mon, 19 Oct 2020 15:53:53 GMT

@cr101 wrote:
Citi posts the closing date in the portal, which is great. I wish that Synch did that. Can you confirm that the Citi date in the portal is always right? It takes the if-else conditions into consideration or does it just subtract x days from the due date? I tend to pay them day before statement cut since payments post the same day. Now, I'm nervous lol...If they knew how OCD we were about our credit, we'd probably be their best customers.

I needed future dates, not just the current cycle date. (I log and plan everything)

They are pretty accurate, based on my data since January of this year.

Synchrony is simple (Only moves when it falls on a Sunday):

=UPPER(TEXT(
    IF(WEEKDAY(DATE(CurrentYear,MONTH(K$24),DueDateSynchorny-23))=7,
        DATE(CurrentYear,MONTH(K$24),DueDateSynchorny-24),
        DATE(CurrentYear,MONTH(K$24),DueDateSynchorny-23)),
"MMM DD"))

And currently, Capital One (same day, no matter the number of says in a month. The formula obviously is not applicable if the statement date result is around 28th - 31st):

=UPPER(TEXT(DATE(CurrentYear,MONTH(K$4)-1,DueDateCapitalOne+3),"MMM DD"))

Re: Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

cr101 — Mon, 19 Oct 2020 21:07:30 GMT

@staticvoidmain wrote:
@cr101 wrote:
Citi posts the closing date in the portal, which is great. I wish that Synch did that. Can you confirm that the Citi date in the portal is always right? It takes the if-else conditions into consideration or does it just subtract x days from the due date? I tend to pay them day before statement cut since payments post the same day. Now, I'm nervous lol...If they knew how OCD we were about our credit, we'd probably be their best customers.
I needed future dates, not just the current cycle date. (I log and plan everything)
They are pretty accurate, based on my data since January of this year.

Synchrony is simple (Only moves when it falls on a Sunday):
=UPPER(TEXT(
    IF(WEEKDAY(DATE(CurrentYear,MONTH(K$24),DueDateSynchorny-23))=7,
        DATE(CurrentYear,MONTH(K$24),DueDateSynchorny-24),
        DATE(CurrentYear,MONTH(K$24),DueDateSynchorny-23)),
"MMM DD"))
And currently, Capital One (same day, no matter the number of says in a month. The formula obviously is not applicable if the statement date result is around 28th - 31st):
=UPPER(TEXT(DATE(CurrentYear,MONTH(K$4)-1,DueDateCapitalOne+3),"MMM DD"))

I should have known from your username. LOL. This is great. Thanks.

Cycle end date and payment??

Anonymous — Wed, 21 Oct 2020 13:57:09 GMT

So Cap 1 is Changing the end date. Mine was always the 16th.... Now they said I'm supposed to take the day my payment is due (the 13th every month) and count back 25 days and that's how I'll figure it out. This will change month to month because some have more days that others. My problem is when I count it, do I count the actual payment due date? Using Dec 13th as payment date, what day would my statement close date be?? I was paying off before it cut but apparently I have been doing it wrong because when I applied for cli.... even though I cycled my limit twice every month I was paying and it reported 0 balance! I'm trying to get a hang on this game lol. Credit game has become a personal challenge for me! TYIA

Re: Cycle end date and payment??

Anonymous — Thu, 22 Oct 2020 12:58:50 GMT

Anyone?

Re: Cycle end date and payment??

NoHardLimits — Thu, 22 Oct 2020 15:27:44 GMT

@Anonymous wrote:
Anyone?

I'm sorry I don't have a definitive answer for you. My plan would be to give myself a couple days of buffer time if I want to make certain that the statement will cut at zero. We'll know for sure once people start receiving their November statements.