topic Re: Capital One Statement ? in Credit Cards

Capital One Statement ?

fricnfrac1 — Sat, 22 May 2010 10:53:49 GMT

I just received my cap one card this 3 days ago, and while no statement is showing online, there is a due date of June 18th for paying my bill.
Am I correct in my assumption that a statement was already cut? and a new cycle has begun? Not trying to be ignorant, but I dont recall ever receiving

a CC and then have the billing cycle end so quickly.

Thanks!

Re: Capital One Statement ?

Anonymous — Sat, 22 May 2010 11:26:39 GMT

Hi, fricnfrac1!

It's highly unlikely that a statement has already been cut. But your account has been programmed with statement ending date and payment date.

You're in your first billing cycle, which will probably end around June 24th. That's when your first statement will cut (roughly).

Congrats on your new card!

Re: Capital One Statement ?

fricnfrac1 — Sat, 22 May 2010 11:33:08 GMT

Hi Uborrow!

Ok, sounds logical. I appreciate your input. I love my card and the rewards!

Thanks again!

Re: Capital One Statement ?

Anonymous — Sat, 22 May 2010 12:29:57 GMT

You're welcome!

(And I like my Cap One card, too...especially the purchase checks, with no transaction fees!)

Re: Capital One Statement ?

fricnfrac1 — Sat, 22 May 2010 13:13:29 GMT

Hey Uborrow, what are purchase checks? Are those for tranferring balances? Or is it something different?

Re: Capital One Statement ?

Anonymous — Sat, 22 May 2010 13:32:32 GMT

fricnfrac1, if your account is eligible to receive these, they will be sent to you automatically. Sometimes they arrive in a separate booklet of checks, and sometimes they are included with your monthly statement as a separate printed page of checks. The specific terms for these checks are included with them.

They can be written to yourself and deposited in your own account; or, written to a vendor who doesn't accept credit cards; or, used to transfer balances from another account to your Cap One account.

They are treated as if they're ordinary purchases, with the same purchase APR and grace period that's normal for your account.

No transaction fees on these whatsoever, which makes these checks a very nice perk for having a Cap One account! If you work them right, you can get a ninety day float, no interest, between several accounts with a balance.

No rewards points on these, though. Sorry!

Re: Capital One Statement ?

fricnfrac1 — Sat, 22 May 2010 14:38:46 GMT

Interesting! When you say "your account", you mean my checking? So, If I wanted to use one of these checks, deposit into my own account, I wouldnt be charged a cash advance fee? Sounds too good to be true. Im probably wrong in my assumptions! Great info though. Just another wonderful tool from Cap 1. :-)

Re: Capital One Statement ?

tengtengvn — Sat, 22 May 2010 16:59:47 GMT

@fricnfrac1 wrote:
Interesting! When you say "your account", you mean my checking? So, If I wanted to use one of these checks, deposit into my own account, I wouldnt be charged a cash advance fee? Sounds too good to be true. Im probably wrong in my assumptions! Great info though. Just another wonderful tool from Cap 1. :-)

Yup... They treat them as regular purchases, no fee and grace period. I used to get them with my statements but I haven't got any check since Feb.

Re: Capital One Statement ?

fricnfrac1 — Sat, 22 May 2010 23:17:36 GMT

Wow, that's great. I do have certain vendors I deal with that don't take CC..hopefully someday, some will be sent my way.

I emailed Cap 1 about my billing cycle and this is what they said

We have received your question regarding billing cycle. So that we can
better assist you, we have reviewed your account and found the billing
cycle starts on 22 and ends on 21 of every month.

So, I think I am in a new cycle now! I suppose I should get ready to make my first payment!

Thanks for all the help Fellow Fico fanatics!

Re: Capital One Statement ?

tengtengvn — Sat, 22 May 2010 23:45:19 GMT

I just opened my last month statement and found the Purchase Checks in there.

Re: Capital One Statement ?

Anonymous — Tue, 25 May 2010 21:19:21 GMT

The purchase checks Capital One sent me last month was for 4.9% for 12 months with no fees what-so-ever. Of course, interest would start from the date the check was posted to my account.

I also receive similar offers from Chase.