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

[torebuild2014]

---

@HeavenOhio wrote:

@torebuild2014, call Capital One and get the closing dates for the next three or four months. Play with the date calculator after that. Once you've done all that, you'll get a good feel for what's happening. You'll find that 30-day months will have one date, and statements will close a day later in 31-day months. That leaves February, which closes a couple of days earlier.

Capital One refers to this new system as "flex cycle." What's bizarre is that this applies to some cards while not applying to others. Only one of my three cards is on this new flex cycle. The other two still close five days after the due date.

---

Thanks I will call. I thought I had it figured out with the "five days from due date" until yesterday when the statement closed in 3 days on two cards. The due date is fixed but the statement date does not follow a set amount of days. 

One other side question... I also just notice for the first time since I've had my accounts is that my payment that I submitted today is already showing "Pending" in my bank account. This is the first time that I have noticed this and don't know if this is something new with them. None of my other card payments (and previously Cap 1) have done this. It wasn't an issue for me, but just thought I would mention it in case.

[HeavenOhio]

I haven't noticed Capital One payments appearing in my bank account more quickly. But then again, I haven't looked all that closely either. One recent change is that available credit is restored practically immediately vs. at some point after the end of the business day. Maybe these changes go hand in hand.

By law, due dates must remain the same from month to month. The closest I've seen to deviating from that is Apple Card, whose due date is the last day of the month. I suppose that still satisfies the requirement to have a consistent due date.

[refereeguy1390]

My statement usually closes on the 14th.  Now with the 14th being Sunday and Monday being a bank holiday, I went to pay down my balance before the statement cut.  But, to my surprise, it dropped yesterday the 11th.  It's going to suck having a 50% utilization on the card for the month, but whatever.  Can anyone help me out as to why the statement cut on Thursday the 11th instead of Friday the 12th for a card that usually ends on the 14th?

[Face_Value]

CapitalOne did me something similiar in December of last year. My statement had always cut on the 23rd and as of December it now cuts on the 26th. I had to suffer a lower score that whole month. I've heard others with the same complaints recently with this lender. Perhaps someone could let us both know why they are doing this.

[Mr_Mojo_Risin]

Capital One changed their statement date policy back in Oct/Nov timeframe. They have floating statement dates every month now.

They want you to count back 25 days from your due date to determine your statement date.

It should've been stated towards the bottom of your statement a few months back.

[refereeguy1390]

Yep.  I was just coming here to post that I figured it out.  My due date is always the same (the 8th) and it's 25 days (previously 28 days) back from that.  Since I've only had the card a couple of months and those two statements dropped on 31 day months, I incorrectly assumed it was the statement date that was fixed.  February being shorter means March 8 minus 25 days equals February 11.  Lesson learned.

[Mr_Mojo_Risin]

---

@refereeguy1390 wrote:

Yep.  I was just coming here to post that I figured it out.  My due date is always the same (the 8th) and it's 25 days (previously 28 days) back from that.  Since I've only had the card a couple of months and those two statements dropped on 31 day months, I incorrectly assumed it was the statement date that was fixed.  February being shorter means March 8 minus 25 days equals February 11.  Lesson learned.

---

Yep mine just cut overnight as well.

It's definitely a little annoying but I've gotten use to it over the last couple of months.

Just remember to count those days back next month.  Enjoy your weekend!

[Iusedtolurk]

---

@refereeguy1390 wrote:

My statement usually closes on the 14th.  Now with the 14th being Sunday and Monday being a bank holiday, I went to pay down my balance before the statement cut.  But, to my surprise, it dropped yesterday the 11th.  It's going to suck having a 50% utilization on the card for the month, but whatever.  Can anyone help me out as to why the statement cut on Thursday the 11th instead of Friday the 12th for a card that usually ends on the 14th?

---

As it has been stated Cap1 changed the way they do statement cut dates a couple months back. After I realized this from talking to a CSR I found out he could give me my dates for the year.

Mines had usually cut on the 9th every month since I had it and now with the floating dates it cuts on the 12th day of 31 day months, 11th day of 30 day months and Feb this year was the 9th.

[refereeguy1390]

---

@refereeguy1390 wrote:

It's going to suck having a 50% utilization on the card for the month, but whatever.

---

EDIT: My thread got merged into this one.  My post starts about six up from this one.

So an update for those who like FICO data points.  Between a second revolving bankcard getting added (a big positive) and an 80% utilization getting added on my Cap1 card (a big negative, but probably less with a dirty scorecard) my EX FICO only dropped 5 points.  Looking forward to next month to see how it responds to the lower util.

[Toastmaster]

Okay, I have a big problem here and I humbly ask for your advice.

My Statement Close Date for my Capital One card has been on the 16th of the month for over 3 years since I've had this account.  I noticed that in November 2020 Capital One changed it to the 18th.  Then in December 2020 and January 2021 it was the 19th.  I called into Capital One because I was worried about what was going on and I spoke with the agent who told me that Capital One made some internal changes and that my new statement close date will be the 19th of every month going forward.

Fast forward to today, I get a notification that my statement close date was the 16th of this month... The reason this is an issue is because the eporting to the credit bureaus now looks like my balance is WAY HIGHER than it actually is!!!

This makes my utilization look SUPER HIGH when in fact I have the money to pay it right now, I just thought I had time because my statement cut date was a few days away.

The problem is that after learning this, I immediately I call in to Capital One customer service and ask for a supervisor.  I get someone named Oscar who supposedly was a senior account representative supervisor... Who long story short, did not help me... Did not care... And basically told me to go f myself.  He would not escalate the matter to his manager, he will not give me a mailing address to corporate, he wouldn't even give me his last initial.  In fact he threatened to hang up on me if he's suspected I was "recording the call".

I need to get to someone in management, upper management, the Consumer Financial Protection Bureau, the Better Business Bureau... Somebody, to fix this reporting mess...because THEIR OWN employee told me the wrong statement cut date and now it makes ME look bad!  All my scores are over 700 but I am expecting a big ding after this mess, and it's all Crapital One's fault!

Has anyone ever been through this?  How do you go about fixing this?  Thank you for any help!