topic Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :( in Credit Cards

What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

PerArduaAdAstra — Tue, 02 Aug 2022 19:45:17 GMT

I had some major medical expenses over the past couple months (coupled with COVID financial issues I am sitll recovering from) that led me to being a little behind on my bills. My due date for Capital One was July 2. I literally made my final payment to get caught back up and out of this mess to Capital One on Saturday July 30 at 8:30 PST. I chose July 31 as the payment date. 29 days late.

I get my e-mail confirmation (attached) which stated "Posted date: July 31, 2022." I wiped the sweat from my brow and was ready to put this past couple months of hell behind me.

Out of some sense of paranoia I check my account yesterday to make sure everything is good, and my transcations show my payment dated Aug 1. Panic ensues. Yet when I click on the payment details (attached) it still says Posted Sunday July 31, 2022. What??

So I do some research and this is what's going on. Capital One payment posting schedule technically does not include Sunday. The only other payment I've made on my account on a Sunday, shows a Monday posting date on my STATEMENT. But my payment confirmation and all other payment details show the "Posted Sunday," just like this one.

Capital One phone support repeatedly assured me the system shows my payment was received July 31, 2022 and not to worry, I am indeed 29 days late. As sweet as the representative was, if you've ever talked to Cap1 support, you might know why I'm not fully confident in their assurances.

My question is - When this information is reported to the bureaus and they get my last payment date... Where is that pulled from? Is that automatically PULLED from my STATEMENT which is going to show Monday Aug 1, or does Cap 1 PUSH the date I show in all of my other records (attached)?

I really can't make sense of why all of my receipts and documentation show a July 31 posting date, but my statement is going to show Aug 1. I am just PRAYING the bureaus do not pull the date from my statement, and instead Cap1 will report the "Posted date" that all the payment receipts show.

I have worked SO hard to rebuild my credit from the catastopher that was my teenage years. I am finally in an amazing place and I am absolutely overhwelmed with anxiety whenever I start thinking about getting a 30 day late right now. If anyone has any experience with this at all your input would be greatly appreciated it.

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

Remedios — Tue, 02 Aug 2022 19:52:24 GMT

No, your payment date won't be reported.

Had it gone for another 2 days, it would have been reported as 30 day late.

Since you paid, it will be just like any other month

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

PerArduaAdAstra — Tue, 02 Aug 2022 20:06:45 GMT

Full disclosure - I've never gotten a 30 day late in my life. My credit issues in my teens were from medical collections. So I have NO idea how the reporting of 30+ day lates work.

OK OK, so by the simplcity in your response... Maybe this is a lot simpler than I am realizing and I am massively overthinking this. As long as I made the payment before my next due date, then, you're saying the payment date itself doesn't even get reported?

I was under the impression Cap 1 pushes my payment date itself to the bureaus, and then the bureaus do the calculating to see I was 30 days late.

Is 30 days late instead a code that Cap 1 would have to select, and you're saying that as long as my payment was made before the next due date this is not triggered? Even with the statement cutting with an Aug 1 posting date (which is 30 days past due from July 2)?

Sorry, I'm still a bit confused. But you've already done a lot to alleviate my anxiety and I am so grateful for the wealth of knowledge you guys all have. Thank you!

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

Remedios — Tue, 02 Aug 2022 21:13:23 GMT

When you make a payment, there is a disclaimer that says if you pay by whatever o'clock, that's payment received date and that's the date that counts.

Posting date is typically a day (or several after the received date).

As long as you paid less than 30 days from due date, there is no late.

Payment date is not reported to CRA, it's basically either paid or not.

You are in the gray area where you are not 30 days late, so late payment is not reported, fee for late payment is typically assessed in those cases.

Think of it this way..there are two ways to be late

1)You're late but not 30 day late. There is a fee and probably no increases for a while

2)Payment made 30+ days after due date, 30 day late is reported.

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

purebulldogs — Tue, 02 Aug 2022 22:47:18 GMT

Since it's showing posted date as July 31 and due July 2, you shouldn't get a late on the credit reports.

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

W261w261 — Tue, 02 Aug 2022 23:14:02 GMT

I'll defer to those upthread who certainly know what they're talking about, and am glad you're ok on the late payment front. But the world isn't as organized and predictable as it should be, sometimes. Things go wrong that shouldn't, and one of the places where it's not good to be is on the edge. That is a place where there's precious room for error; you have to be perfect to go there often and not step over. Murphy's Law lives there: your computer goes out for that 6 hours in the middle of the night that you need, your wife hurts herself and you have to rush to the ER, and so forth. It's a fraught and dangerous place, the edge.

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

Remedios — Tue, 02 Aug 2022 23:38:39 GMT

@W261w261 wrote:
I'll defer to those upthread who certainly know what they're talking about, and am glad you're ok on the late payment front. But the world isn't as organized and predictable as it should be, sometimes. Things go wrong that shouldn't, and one of the places where it's not good to be is on the edge. That is a place where there's precious room for error; you have to be perfect to go there often and not step over. Murphy's Law lives there: your computer goes out for that 6 hours in the middle of the night that you need, your wife hurts herself and you have to rush to the ER, and so forth. It's a fraught and dangerous place, the edge.

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

W261w261 — Wed, 03 Aug 2022 00:01:56 GMT

OP was very close to catching a 30 day late. Ultimately he was ok, but it isn't hard to imagine a circumstance where he might have been tagged

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

PerArduaAdAstra — Wed, 03 Aug 2022 00:09:06 GMT

@Remedios Thank you, thank you. So Cap 1 says "Payments made before 8 p.m. ET will post the same day", with a link to their posting schedule. Then there is an "Earliest Payment Date" option, which shows the earliest available payment date you can schoose to schedule your payment.

My payment was made Saturday after 8 p.m ET and I was offered July 31 as my "Earliest Payment Date." According to their posting schedule, they do not post on Sunday, however it says "If your Payment Due Date falls on Sunday and you schedule a payment on that date, then your payment will be considered on time."

Am I understanding correctly that it is this "Earliest Payment Date" aka payment received date I chose is what they go by, and not the Posted date?

It is of great relief to have such a respected member of the community let me know that they will go by the received date of the payment, and not the posting date. Because in my panic I read quite a few stories about people getting nailed with 30 day lates becuase of the discrepancy between when they submitted their payment and when it posts, especially when it comes to payments made on weekends. Therefore I thought it was the POSTING date that mattered.

Still unsure what happened with those other posters, but if you are confident that it is the day payment is RECEIVED by Cap 1 and not the few days later POSTING date that they will use to determine a 30 day late, then I can rest my head easy.

Thank you again for all your help

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

PerArduaAdAstra — Wed, 03 Aug 2022 00:12:47 GMT

@W261w261 Oh I hear you. This has been one of the most chaotic periods of my life and believe me when I say I have learned my lesson with this payment. I will never let myself end up in a situation like this again.

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

PerArduaAdAstra — Wed, 03 Aug 2022 00:27:57 GMT

@purebulldogs That's the thing. The records I posted in the original post show a posted date of July 31. But I just got an e-mail saying my payment has posted with a date of Aug 1. Not at all confusing...

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

Remedios — Wed, 03 Aug 2022 00:22:09 GMT

@PerArduaAdAstra wrote:
@Remedios Thank you, thank you. So Cap 1 says "Payments made before 8 p.m. ET will post the same day", with a link to their posting schedule. Then there is an "Earliest Payment Date" option, which shows the earliest available payment date you can schoose to schedule your payment.

My payment was made Saturday after 8 p.m ET and I was offered July 31 as my "Earliest Payment Date." According to their posting schedule, they do not post on Sunday, however it says "If your Payment Due Date falls on Sunday and you schedule a payment on that date, then your payment will be considered on time."

Am I understanding correctly that it is this "Earliest Payment Date" aka payment received date I chose is what they go by, and not the Posted date?

It is of great relief to have such a respected member of the community let me know that they will go by the received date of the payment, and not the posting date. Because in my panic I read quite a few stories about people getting nailed with 30 day lates becuase of the discrepancy between when they submitted their payment and when it posts, especially when it comes to payments made on weekends. Therefore I thought it was the POSTING date that mattered.

Still unsure what happened with those other posters, but if you are confident that it is the day payment is RECEIVED by Cap 1 and not the few days later POSTING date that they will use to determine a 30 day late, then I can rest my head easy.

Thank you again for all your help

It's "payment received" date that's important.

As long as that date wasn't 30 days past due date, you're good to go.

Payment posted date can be up to a week later with some CUs and banks, it's not the date you should worry about.

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

PerArduaAdAstra — Wed, 03 Aug 2022 00:41:22 GMT

It's "payment received" date that's important.
As long as that date wasn't 30 days past due date, you're good to go.
Payment posted date can be up to a week later with some CUs and banks, it's not the date you should worry about.

Thank God and thank YOU for having the patience to sort through my walls of text and help me through this.

Now I'm off to grab this month and the rest of the year by the b***s so I NEVER have to make a minimum payment 29 days late again.

Re: What Payment DATE is reported to bureaus? (Capital One) Panic inducing 29 vs 30 days late :(

iamhawkhai — Mon, 04 Dec 2023 14:36:57 GMT

@PerArduaAdAstra

I sent you a direct message, as I have some follow up questions for you. I experienced the exact same thing. I'm hoping you can help me out regarding your experience.

Thank you!