I'm so angry I could cuss!!!

[Anonymous]

Your CC statement reflects that Capital One believed your payment would clear.  So Capital One's system clears the payment BEFORE they actually got your money.

Since the payment was reversed, the statement doesn't mean anything.

How did you lose 86 points?  Capital One won't list you as late unless you are 30 days past due -- was the payment already late when you attempted to make it?

If it's a utilization issue, once you pay it off, your score will jump back up.  If you were already 30 days late and your payment was reversed, then you will have a 30D late derogatory that you just need to age off.

If it was late, I would suggest making the minimum payment the day the statement is released so you are never late.  Then make any additional payments as you can.

[Anonymous]

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@Anonymous wrote:

First. Thanks for responding!  What I try to do is the moment I get paid, I hit the computer and pay everything on-line.  Which I did.  I always pay CO thru my bank account not debit card.  Once I made the payment, I checked Cap one and the transaction showed up as a payment.  on the same day.  Then on the 26th, the payment was reversed by the bank for non sufficent funds.  I have proof it was made on the 21st.  How should I handle it.  Oh, I might still file the comoplaint and mail them a copy because they need to see that some of us take this kind of thing very seriously!

Thanks for your imput...

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Woodforest, aka the bank at Walmart, is 3 days behind. Unless you can get Woodforest to show you the timeline of every debit and credit, they'll charge you fees. CapOne will also charge you a fee unless you can show them that your bank erred, which is almost impossible. Lastly, this will show up as a returned payment on your credit report unless you can prove to everyone that the payment was made on-time and the fact that it was returned is the banks' fault and not an oversight on your part.

Getting mad and firing off letters to politicians will help you none. 

Having said all of this, if the payment is 1 cent short, you'll run into this problem and there will not be a single, solitary thing you'll be able to do about it. 

[Anonymous]

This was your fault. If you pay someone, make sure the money is in your account to cover it. 

[Anonymous]

Thanks for that info! That makes sense.  Its sucks but I see now.  Thank you....

[RockinRay]

Maybe you should keep a spreadsheet or try a budget program such as YNAB?

By doing this and maintaining it, you will always know where you stand and things like this will not come up.

Just my thoughts here.

I use YNAB (You Need a Budget), and I track everything with it. At any time, I know right where I stand. 

[Anonymous]

Oh I forgot, My account was never overdrawn! Ever since I've been studying credit, I've been super careful with everything.  I will post the final outcome soon.

[trant3]

This makes no sense

[Anonymous]

Nope. Wasn't late. I make mid month payments as well as monthly payments.  I'm so serious about this credit thing.  It's the first time it's ever been reported to CRA.  I think it was the uitilization.  I will pay it again this week.  Hopefully wIll get my points back.  Credit Sesame said that I lost 86 points due to utilization not for missed payment.

[Anonymous]

Thanks for your response...I will keep this information close!

[sarge12]

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@Anonymous wrote:

Yes.  I understand. But my CC Statement say it was paid on the 21s and it clearly says PAID.  Oh well 86 points down the drain I guess.   Thank you all for your quick and helpful responses!

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Not really...Utilization is a point in time metric and once the utilization goes back down you will recover all 86 points. Also the CC issuer credits the payment on the day you authorize the EFT, as a courtesy to you, but if the funds are not available by the time it is to be sent and your bank rejects the EFT, naturally the CC issuer will reverse it. EFT process takes a few days. Sounds like you need to better manage accounts because the "Pay and Pray" method for keeping up with balances does not work.