Capital One is Changing my Billing Cycle End Date, Ramifications for AZEO

[Anonymous]

Man I wish I had read this thread or the last page of my statement last month. My statement cut has always been the 9th. Made a purchase on the 9th expecting it to cut over to the next statement and have $0 balance for November. No dice, statement cut on the 11th!  Just got off the phone with Capital One as I was confused as to why. And now I know! Asked about the possibility of a mid-cycle report and the CSR said no dice after putting me on hold. Ah well! 

[Iusedtolurk]

---

@Anonymous wrote:

Man I wish I had read this thread or the last page of my statement last month. My statement cut has always been the 9th. Made a purchase on the 9th expecting it to cut over to the next statement and have $0 balance for November. No dice, statement cut on the 11th!  Just got off the phone with Capital One as I was confused as to why. And now I know! Asked about the possibility of a mid-cycle report and the CSR said no dice after putting me on hold. Ah well! 

---

LOL Not LOL That's exactly what I did and thought of when I made a charge and saw statement had not cut yet on the 9th ( as it had done since the beginning) and charge went on current cycle which cut on the 11h instead.

[NoHardLimits]

My November statement is now available.  As expected, the statement date changed to 25 days before my ordinary due date.  I looked all over the statement and my online account and did not see any indication of my December statement date.  Not very helpful Capital One!  To avoid having to mentally count backward 25 days, I requested a change to my due date to match one of my other accounts that uses the same 25 day statement date process.  In my case, this is an Amex account which supplies my next statement date information online.

[cr101]

Finally got my statements a few days ago and after my complaining about the loss of the stable closing dates, I realized that (at least for me) this works in my favor because my billing cycle will be a few days longer. So, if I do want to carry a balance, I have a few extra days LOL. I'll take whatever I can get.

Another positive is that I figured out an easy way to figure out my statement cut date for all of my cards. For me, I just take the payment due date, subtract one month, and then add five days. So, if the payment's due 12/10, my statement will cut on 11/15. I imagine that there will be variances if Cap1 doesn't cut statements on certain days, but this is helpful for me for now. 

[HeavenOhio]

Go to any date calculator on the web, enter your upcoming due dates, and add 25 days. Or as mentioned, call the reps for a list of upcoming closing dates.

While you're talking to the rep, request that a suggestion be submitted to include the next month's statement date in the online account interface, on the statement itself, or in both spots. My other cards all have the next statement date in one spot or the other.

[Anonymous]

Hi thanks for posting this.  I checked my October statement and saw the same message.  Getting ready to refinance our mortgage and trying like heck to close each CC with a zero balance this month -- AZ.  Was really getting frustrated checking my CapOne mobile app every day! Pending charges keep processing, necessitating daily payments until the darn thing closes.  Argh, driving me nuts!  Now at least I understand what is happening and why I'm now five days past my payment due date, and still no bill cutoff. Used to close three days after the payment date so I was really confused, started to wonder if Cap One was doing this just to annoy me!  I should just stop using the card, but it's the holidays and I want the cash back, darn it!  Why'd they have to make this change just in time for holiday spending?  Seems punitive and mean esp. in 2020.  Maybe they are scheming to add more charges to the balance each month to make more in interest from those who carry a balance.  

[HeavenOhio]

Welcome @Anonymous.

Definitely call in and ask for your upcoming statement dates. Once you're armed with that information, your charging and payment behavior won't have to change by much.

[Anonymous]

@Anonymous If your payment is due on the 13th of every month, to figure out your closing date for this month, look on a calendar for the 13th of the following month, then count backward 25 days.  So for a January 13th due date, the bill should have closed on December 19th.  Check my math and let me know if that is when your December bill closed!  If so, then your January bill should close on January 19th (counting back 25 days from February 13th), and your February bill should close on February 16th (counting back 25 days from March 13th).

[Anonymous]

@Anonymous 

If your bill closes with more than a small balance, you are doing it wrong!

Try this simple plan.

Step 1:  Pay off your card in full.

Step 2:  Figure out what 10% of your credit limit is.  Going forward, never allow more than 9.9% of your limit to remain on your balance when the bill closes. Let's say your CL is $5,000.  That means you should never close your bill with more than $499 in balance.  If you use the card a lot for rewards or cash back, perhaps $1000-$2000 per month, simply make a payment right before the bill closes (same day online works) to reduce your balance to less than $499. I think it's even better to reduce it to just $5 or $10 because that way, it shows the bureaus you are using your credit, but not by much, and this will boost your scores.  Then you can pay the remainder with the following month's charges and never accrue interest on the account.

I call this the "2-step debit card method" because basically you use your card for all your normal expenses, get your rewards or cash back, but never more than you can afford to pay out of your normal bank account at the time of purchase.  You can pay the card once a month, on the due date, and pay your current balance, not just the prior statement charges remaining.  Or, you can become OCD like me, and make multiple payments each month.  I tend to make one payment on/before the due date, and then at least one more just before the bill closes, to stay in control of what actually reports to the credit bureau which is how the UR is calculated.

Hope that helps!

[Kforce]

---

@HeavenOhio wrote:

I have two cards with other banks whose closing dates move around a bit.

But each makes it clear when the next statement closing date will be.

AMEX puts it near the top of the webpage when I log into my account.

Citi puts it near the top of the current statement.

I'm not seeing that information anywhere from Capital One at this point.

---

+ 100

I believe C1 is just changing to how most CC issuers both CU and Banks have been doing business.

I believe most of mine have statement dates that float by length of month and different number of days in statement cycle.

C1 just needs to put that date out front on the web & app page.