topic Re: Capital One—Too many payments in one billing cycle? in Rebuilding Your Credit

Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 00:11:48 GMT

Fresh out of CH7, I was approved for two capital one cards. (Quicksilver and Platinum) Both with low credit of $300. I received and activated my Quicksilver card on 5/26, and made two payments of $300 before my first statement cut. I thought I would have 30 days in a billing period but my first billing cycle was only 26 days , so a balance of $296 reported. I quickly made another payment on 6/26 for 300. and then my account was frozen. After speaking to a CSR, he stated that I was making too many payments in a billing cycle. I told him that my credit limit was low and i was hoping to increase it and show good will by paying multiple times in a month. He stayed that I should make no more than two payments a month. Now I’m sad and scared to use my cards. Has anyone else had this experience or advice?

Re: Capital One—Too many payments in one billing cycle?

dt3813 — Mon, 13 Jul 2015 00:15:51 GMT

OMG....no more than 2? I make payments constantly on all my cards... My Capital One hasn't arrived yet, but 2 payments in 30 days isn't going to work for me! I'll let you know what happens with mine. Even credit one lets me make 4 in 30 days!

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 00:19:39 GMT

I know...two sounds so low. Its kinda strange because I activated the platinum card a week later and I have already made four payments before my first statement without the card being frozen.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 00:22:41 GMT

I made up to 10-15 payments in month just a few months ago - no any issues.

Re: Capital One—Too many payments in one billing cycle?

dt3813 — Mon, 13 Jul 2015 00:28:57 GMT

@Anonymous wrote:
I made up to 10-15 payments in month just a few months ago - no any issues.

That is reassuring...I charge and pay as soon as it posts on the card, so I tend to make frequent payments.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 00:30:23 GMT

Is there a benefit to multiple payments in a month?

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 00:34:19 GMT

I've made 3 or more payments per billing cycle for over a year now....

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 00:43:00 GMT

@Anonymous wrote:
Fresh out of CH7, I was approved for two capital one cards. (Quicksilver and Platinum) Both with low credit of $300. I received and activated my Quicksilver card on 5/26, and made two payments of $300 before my first statement cut. I thought I would have 30 days in a billing period but my first billing cycle was only 26 days , so a balance of $296 reported. I quickly made another payment on 6/26 for 300. and then my account was frozen. After speaking to a CSR, he stated that I was making too many payments in a billing cycle. I told him that my credit limit was low and i was hoping to increase it and show good will by paying multiple times in a month. He stayed that I should make no more than two payments a month. Now I’m sad and scared to use my cards. Has anyone else had this experience or advice?

Yeah, thats a little weird... I'd call again and talk to a different CSR, or may even a supervisor.

Re: Capital One—Too many payments in one billing cycle?

dt3813 — Mon, 13 Jul 2015 00:54:45 GMT

@Anonymous wrote:
Is there a benefit to multiple payments in a month?

I don't know if there is a benefit, I just do it because my limits are not super high and I don't want to get caught with a high balance when the statement cuts. I don't keep track of when they cut and I try to have little or no balance post.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 00:58:47 GMT

I think since the accounts are new, your behavoir is what is causing the freeze. You are running it up to the limit and paying it off multiple times in a month. This may have sent a red flag to them. You don't need to do that to get a CLI. You most likely will be in the Credit Steps program and after about 3 or 6 months of on time payments, you should get a CLI. Do not use your cards up to the limit anymore and then you will be okay.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 01:03:40 GMT

Thanks for the advice.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 03:45:33 GMT

Same thing happened to my second Capital One card. Make about a half dozen payments of $400 and every single time a 5 day hold. It became too hard to use the card with only a $500 limit and 5 day holds each time.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 04:58:09 GMT

I have three capital one cards and pay them all off in full every saturday. Never had any problems

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 05:05:52 GMT

That's concerning. I've already made about 4-5 payments on my QS1 since I got the card less than a month ago. Weird.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 06:09:10 GMT

You can pay with your debit card over the phone. If the payment is processed before 8pm the money will be available the next morning. It will not put a hold on the funds. If you decide to pay online or through the app you will have to call once the funds clear your bank and they will call your bank and release the find that way. I found the easiest was to pay was by using my debit card.

Re: Capital One—Too many payments in one billing cycle?

truckerwife — Mon, 13 Jul 2015 12:29:38 GMT

I make a payment on my card constantly. If I use it, I go home and make a payment. I agree with the other posters, just don't charge it up to the limit.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 17:11:24 GMT

btw. I mentioned I made upto 10-15 patments a month, but I never used CC more then 40% (usually 20-30%, 2-3 times 35-38% especially when Quicksilver was $300) - I paid balance right after it is posted.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 17:46:35 GMT

I've worked at a financial institution for many years. Banks will put a freeze on a credit card only for a few reasons. The obvious being if they suspect fraud or if a product/service is not being used for its intended purpose. As far as I know, banks will not freeze a card for making "too many" payments. What they can freeze it for is if there is a point where you are paying over your $300 credit line which in turn allows you to go over your credit limit. I had customers who had $500 secured cards but would make an overpayment of $200 thinking their avaiable credit line was now $700 (even if temporary). Banks do not like to see this when it happens. Each financial institution is a little different but I would highly doubt if they did something like this. Remember (and speaking from experience), not every associate/rep is going to be 100% knowledgeable. Guidelines are constantly changing in the banking industry and not everyone is allowed the time to keep up with training. If in doubt, always escalate to supervisor/manager. If you don't want to be rude, just hang up and call back to speak to someone else. Your best course of action is to not run your credit limit up so high and wait for the increase. If you don't want to wait then speak to a supervisor and ask that they increase the limit because you checked with other banks and they do not freeze your account for making too many payments (be polite of course). Again, make sure you are ONLY using your $300 credit limit and not going over it -- in other words, when you make a payment does it appear like you have a larger credit limit of $300? Hope this helps!

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 18:24:47 GMT

@Anonymous wrote:
You can pay with your debit card over the phone. If the payment is processed before8pm the money will be available the next morning. It will not put a hold on the funds. If you decide to payonline or through the app you will have to call once the funds clear your bank and they will call your bank and release the find that way. I found the easiest was to pay was by using my debit card.

Good Advice. I normally pay online through my checking account. I will try this next week.

Re: Capital One—Too many payments in one billing cycle?

Anonymous — Mon, 13 Jul 2015 18:34:44 GMT

@Anonymous wrote:
I've worked at a financial institution for many years. Banks will put a freeze on a credit card only for a few reasons. The obvious being if they suspect fraud or if a product/service is not being used for its intended purpose. As far as I know, banks will not freeze a card for making "too many" payments. What they can freeze it for is if there is a point where you are paying over your $300 credit line which in turn allows you to go over your credit limit. I had customers who had $500 secured cards but would make an overpayment of $200 thinking their avaiable credit line was now $700 (even if temporary). Banks do not like to see this when it happens. Each financial institution is a little different but I would highly doubt if they did something like this. Remember (and speaking from experience), not every associate/rep is going to be 100% knowledgeable. Guidelines are constantly changing in the banking industry and not everyone is allowed the time to keep up with training. If in doubt, always escalate to supervisor/manager. If you don't want to be rude, just hang up and call back to speak to someone else. Your best course of action is to not run your credit limit up so high and wait for the increase. If you don't want to wait then speak to a supervisor and ask that they increase the limit because you checked with other banks and they do not freeze your account for making too many payments (be polite of course). Again, make sure you are ONLY using your $300 credit limit and not going over it -- in other words, when you make a payment does it appear like you have a larger credit limit of $300? Hope this helps!

As soon as the CSR, stated that I was making too many payments, I knew he didn't know what he was talking about. Numerous of other people run their card up and pay many times within a month. I tend to run both cards to the max and then pay them both off in full before the statement. Capital one wont allow you to pay more than 10% excess of your current balance, and this problem only happened with my Quicksilver card. I treat the platinum card the same way and it has never been frozen. I think the advice given earlier about paying with a debit card instead of my checking account my help this situation.