Capital One.. New Statement

[Jamielei24]

So I have been patiently waiting my statement to cut  and be report to boost my score. It was one that was PIF with BT. Full payment posted the day before the due date and has been $0 for several days now.

Today I check Manilla and my Capital One shows a $16.43 balance. Log in and sure enough my new statement has cut and I now have this balance for "interest charges". I guess I feel I need a little education from my wise fellow myficoers in why I have interest charges on the PIF account? :/

I posted payment right away but I'm afraid now they will report the $16.43 to the bureaus and not a $0 that I have been longing for...grr!

[BigBS]

I may be wrong, but I think BTs incur interest from the day the transfer is made not at the end of the grace period (25/30 days after transaction posts).  I would call Cap1 and see if there is a way to waive it, but I think it may be too late for this report cycle since the statement has cut.

[mnavas]

Even if you PIF or did a BT Cap 1 or Any CC company will still calculate the interest for the time you had  a balance that is subject to interest  

[eagle2013]

Exactly - no grace period on interest for BTs. Even if they have a promo interest (0%) most will still levy a BT fee of 3-5% which is reflected once the BT posts

[Jamielei24]

Thanks! That was my thought process but was thinking about everyone on here talking about PIF before statements cut to avoid IC.  Lesson learned. 

[RCFL]

Not sure if this help but it happened to me before. Say I paid off my balance on the 2nd and CapOne charged me interest on the 3rd - I chat with the representative online and was able to waive the interest charge.

[Jamielei24]

Thanks I will try that!! Actually I will be calling in for a PC change offer and be discussing this however...I think the damage is done for my $0 reporting

[Chris679]

They are not going to waive your interest charges because there is no grace period for BT. The other poster should not have been charged interest and that's why they were able to get it removed. The only way for you to avoid the interest reporting would have been to pay $20 over the balance and have a small credit report instead.

[Jamielei24]

I thought  I read on here somewhere that a credit or neg balance can be harmful to your credit score? 

[Chris679]

In my experience it will report as zero. I can't see any way it could be seen as negative.