topic Re: CC payment? in Credit Cards

CC payment?

Anonymous — Sun, 17 Apr 2011 21:16:00 GMT

Since I just got the secured cap1 card, I still don't know how to "play" the less than 9% game..... I called the CRS and they told me that my statement was going to be done on the 17 of this month ...in my online account it says that my payment is due may 14 so my question is can I still use my card to make purchases even it I payed it in full my cc before the statement exactly 2 days before today (the 17th) but I still have some stuff pending that doesnt show up on my online account but the CSR could see totaling an amount of no more than 60.00 can somebody help me figure this mess out please? ***In short I have payed EVERYTHING that my account online shows (I'm even $1 positive) but the representative says there's still 60 dollars pending but cannot pay for them because there not yet retrieved***

Any input helpful . Thanks

Re: CC payment?

tpatterson2k9 — Sun, 17 Apr 2011 21:28:05 GMT

There is a difference between CC authorizations and CC charges. An authorization occurs usually right after you make a purchase with your CC, and the transaction cost will not be reflected on your balance. A charge, however, is reflected on your balance which usually takes 2-3 days from the time of purchase depending on the financial institution. Authorizations become charges after the bank processes the authorization (and CUs are usually faster at this than banks). Some CCC's do not give you access to authorization information, only your actually charges, so the $60 the CSR is referring to might be pending authorizations that you cannot see.

Re: CC payment?

JayRizzo — Sun, 17 Apr 2011 21:30:19 GMT

After you've PIF (everything that you know you've purchased), you're fine. Authorizations are not included in your statement, so you will have a credit balance of $1 on your account and your total due is $0 that will be reported. Once you pay a couple days before your statement date of the 17th, do not use your card again until that date pass, then you're okay to continue your purchases -- it's basically a snapshot at that point in time.

As mentioned in other recent threads, you can always set up BillPay using your local Bank or CU and "PUSH" payments to Capital One because their online payment doesn't allow you to pay since you owe nothing at the moment -- that's the workaround.

Re: CC payment?

Anonymous — Mon, 18 Apr 2011 08:32:28 GMT

Ooooohhhhhh! Ok I get it now alright just pay before the statement and don't use till after the statement and watever I charge after the statement pay it before the due date! (so I don't have to pay the interest) GOT IT!

Re: CC payment?

DI — Mon, 18 Apr 2011 15:28:45 GMT

@Anonymous wrote:
Ooooohhhhhh! Ok I get it now alright just pay before the statement and don't use till after the statement and watever I charge after the statement pay it before the due date! (so I don't have to pay the interest) GOT IT!

Yup!

Re: CC payment?

Anonymous — Mon, 18 Apr 2011 17:06:43 GMT

This suks I just logged in my cap1 online account and it says my account is RESTRICTED?!?!? That's bull! Im talking to a CRS and they are doing this WHOLE background check on me...ON MY CARD!!! Because I think I made to many payments in a short period of time and it's my first month with them too ...idk? This is crazy.

Re: CC payment?

Anonymous — Thu, 21 Apr 2011 01:08:41 GMT

That's weird, never heard/read about them doing such a thing.

Are you sure that's what the reason is?

Re: CC payment?

trumpet-205 — Thu, 21 Apr 2011 01:14:19 GMT

@Anonymous wrote:
This suks I just logged in my cap1 online account and it says my account is RESTRICTED?!?!? That's bull! Im talking to a CRS and they are doing this WHOLE background check on me...ON MY CARD!!! Because I think I made to many payments in a short period of time and it's my first month with them too ...idk? This is crazy.

It is not crazy.

Identity thieves often use other's identity to app a credit card. Push about 10% of CL as payment from another victim's bank account, then max out the card. Frequent payment WILL be a red flag for most lenders (espeically when the account is new).

Re: CC payment?

Anonymous — Thu, 21 Apr 2011 04:20:37 GMT

Yea man ...no lie BIG OL' RED LETTERS on my account status...took like 30 mins in between questions and being on hold! But got it unlocked.

Re: CC payment?

payingoffdebt001 — Thu, 21 Apr 2011 13:45:51 GMT

I have 2 new CC accounts and wil remmember not to post too many payments within a statement period. I'll keep it at 1 payment before statement closing date and then the required posted statement payment after statement date.

Re: CC payment?

Anonymous — Thu, 21 Apr 2011 17:31:47 GMT

Yea well I mean I think. After they see that that's how you manage your card they wouldn't lock your card again.