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Here's the situation...I have 4 CapitalOne cards. 2 Q.S, 1 VentureOne and 1 Venture card. My 0% APR for the VentureOne card expired last month, but i didn't realize it. The statement balance was $2113.63. I did a bill pay for $2,102. without even realizing that my 0% APR is already over. Here's why i think they pulled a fast one on me. Like i said, i have 2 Q.S. One of them has the same closing date as the VentureOne card, which is 12/16/14, so you'd usually expect the statement to close at 12ish (am). Funny enough, CapitalOne's system SOMEHOW made the VentureOne close RIGHT NOW, but left the Q.S alone since i made a fully payment. Basically, the VentureOne closed today (as in an hour ago) and i only realized was Mint alerting me that i've been charged $62.04 in finance chargs from CapitalOne.
I fail to see how they "pulled a fast one". CC systems, contrary to popular belief, not always update at or during midnight. Some can update the next closing cycle on the date it happens much earlier than midnight. Even for CCs with the same bank. IME, Barclays does this and so does Chase (I'm sure others do so as well). The question really is, if you are aware you have a BT promotion, why was the question not asked from the get-go with Capital One when the exact date of the promotional BT offer would end? Most of the time, and AFAIK, customers are given this disclosure/information when BTs are initiated online or via a CSR. Understandable that you may have overlooked but it's not like they were "sneaky" and waited until you took a nap and then voila! - account cycled!
@FinStar wrote:I fail to see how they "pulled a fast one". CC systems, contrary to popular belief, not always update at or during midnight. Some can update the next closing cycle on the date it happens much earlier than midnight. Even for CCs with the same bank. IME, Barclays does this and so does Chase (I'm sure others do so as well). The question really is, if you are aware you have a BT promotion, why was the question not asked from the get-go with Capital One when the exact date of the promotional BT offer would end? Most of the time, and AFAIK, customers are given this disclosure/information when BTs are initiated online or via a CSR. Understandable that you may have overlooked but it's not like they were "sneaky" and waited until you took a nap and then voila! - account cycled!
Lol...No my point is that the VentureOne and Q.S cards but have the same closing date, which is 12/16/14 BUT the VentureOne closed before the Q.S. It just so happen that the VentureOne is the card i'm paying the interest fee on lol.
Edit: And i messed up on the amounts of statement balance and statement. Was referring to another account, but fixed it.
@Membersince2013 wrote:
@FinStar wrote:I fail to see how they "pulled a fast one". CC systems, contrary to popular belief, not always update at or during midnight. Some can update the next closing cycle on the date it happens much earlier than midnight. Even for CCs with the same bank. IME, Barclays does this and so does Chase (I'm sure others do so as well). The question really is, if you are aware you have a BT promotion, why was the question not asked from the get-go with Capital One when the exact date of the promotional BT offer would end? Most of the time, and AFAIK, customers are given this disclosure/information when BTs are initiated online or via a CSR. Understandable that you may have overlooked but it's not like they were "sneaky" and waited until you took a nap and then voila! - account cycled!
Lol...No my point is that the VentureOne and Q.S cards but have the same closing date, which is 12/16/14 BUT the VentureOne closed before the Q.S. It just so happen that the VentureOne is the card i'm paying the interest fee on lol.
Right, understood. I have both Venture and QS and noticed the same patterns on the closing cycle timing differences and reminded myself that any transactions I made needed to post and PIF way ahead of the cycle date to ensure they processed timely to avoid what you experienced (i.e. mainly for 0 balance reporting).
@FinStar wrote:
@Membersince2013 wrote:
@FinStar wrote:I fail to see how they "pulled a fast one". CC systems, contrary to popular belief, not always update at or during midnight. Some can update the next closing cycle on the date it happens much earlier than midnight. Even for CCs with the same bank. IME, Barclays does this and so does Chase (I'm sure others do so as well). The question really is, if you are aware you have a BT promotion, why was the question not asked from the get-go with Capital One when the exact date of the promotional BT offer would end? Most of the time, and AFAIK, customers are given this disclosure/information when BTs are initiated online or via a CSR. Understandable that you may have overlooked but it's not like they were "sneaky" and waited until you took a nap and then voila! - account cycled!
Lol...No my point is that the VentureOne and Q.S cards but have the same closing date, which is 12/16/14 BUT the VentureOne closed before the Q.S. It just so happen that the VentureOne is the card i'm paying the interest fee on lol.
Right, understood. I have both Venture and QS and noticed the same patterns on the closing cycle timing differences and reminded myself that any transactions I made needed to post and PIF way ahead of the cycle date to ensure they processed timely to avoid what you experienced (i.e. mainly for 0 balance reporting).
Yup! lesson learned. I won't let it happen again. I'll contact them and try to get them to waive the interest fee. I'm really upset i have to give them $62 of my money.
@Membersince2013 wrote:
@FinStar wrote:
@Membersince2013 wrote:
@FinStar wrote:I fail to see how they "pulled a fast one". CC systems, contrary to popular belief, not always update at or during midnight. Some can update the next closing cycle on the date it happens much earlier than midnight. Even for CCs with the same bank. IME, Barclays does this and so does Chase (I'm sure others do so as well). The question really is, if you are aware you have a BT promotion, why was the question not asked from the get-go with Capital One when the exact date of the promotional BT offer would end? Most of the time, and AFAIK, customers are given this disclosure/information when BTs are initiated online or via a CSR. Understandable that you may have overlooked but it's not like they were "sneaky" and waited until you took a nap and then voila! - account cycled!
Lol...No my point is that the VentureOne and Q.S cards but have the same closing date, which is 12/16/14 BUT the VentureOne closed before the Q.S. It just so happen that the VentureOne is the card i'm paying the interest fee on lol.
Right, understood. I have both Venture and QS and noticed the same patterns on the closing cycle timing differences and reminded myself that any transactions I made needed to post and PIF way ahead of the cycle date to ensure they processed timely to avoid what you experienced (i.e. mainly for 0 balance reporting).
Yup! lesson learned. I won't let it happen again. I'll contact them and try to get them to waive the interest fee. I'm really upset i have to give them $62 of my money.
They might be generous and waive it so I suppose it doesn't hurt to ask.
@FinStar wrote:
@Membersince2013 wrote:
@FinStar wrote:
@Membersince2013 wrote:
@FinStar wrote:I fail to see how they "pulled a fast one". CC systems, contrary to popular belief, not always update at or during midnight. Some can update the next closing cycle on the date it happens much earlier than midnight. Even for CCs with the same bank. IME, Barclays does this and so does Chase (I'm sure others do so as well). The question really is, if you are aware you have a BT promotion, why was the question not asked from the get-go with Capital One when the exact date of the promotional BT offer would end? Most of the time, and AFAIK, customers are given this disclosure/information when BTs are initiated online or via a CSR. Understandable that you may have overlooked but it's not like they were "sneaky" and waited until you took a nap and then voila! - account cycled!
Lol...No my point is that the VentureOne and Q.S cards but have the same closing date, which is 12/16/14 BUT the VentureOne closed before the Q.S. It just so happen that the VentureOne is the card i'm paying the interest fee on lol.
Right, understood. I have both Venture and QS and noticed the same patterns on the closing cycle timing differences and reminded myself that any transactions I made needed to post and PIF way ahead of the cycle date to ensure they processed timely to avoid what you experienced (i.e. mainly for 0 balance reporting).
Yup! lesson learned. I won't let it happen again. I'll contact them and try to get them to waive the interest fee. I'm really upset i have to give them $62 of my money.
They might be generous and waive it so I suppose it doesn't hurt to ask.
i hope so! Fingers crossed. $62 bucks is not a deal breaker. I just hate the fact that i'm giving it to CapitalOne and not Yard House.
@Membersince2013 wrote:
@FinStar wrote:
@Membersince2013 wrote:
@FinStar wrote:
@Membersince2013 wrote:
@FinStar wrote:I fail to see how they "pulled a fast one". CC systems, contrary to popular belief, not always update at or during midnight. Some can update the next closing cycle on the date it happens much earlier than midnight. Even for CCs with the same bank. IME, Barclays does this and so does Chase (I'm sure others do so as well). The question really is, if you are aware you have a BT promotion, why was the question not asked from the get-go with Capital One when the exact date of the promotional BT offer would end? Most of the time, and AFAIK, customers are given this disclosure/information when BTs are initiated online or via a CSR. Understandable that you may have overlooked but it's not like they were "sneaky" and waited until you took a nap and then voila! - account cycled!
Lol...No my point is that the VentureOne and Q.S cards but have the same closing date, which is 12/16/14 BUT the VentureOne closed before the Q.S. It just so happen that the VentureOne is the card i'm paying the interest fee on lol.
Right, understood. I have both Venture and QS and noticed the same patterns on the closing cycle timing differences and reminded myself that any transactions I made needed to post and PIF way ahead of the cycle date to ensure they processed timely to avoid what you experienced (i.e. mainly for 0 balance reporting).
Yup! lesson learned. I won't let it happen again. I'll contact them and try to get them to waive the interest fee. I'm really upset i have to give them $62 of my money.
They might be generous and waive it so I suppose it doesn't hurt to ask.
i hope so! Fingers crossed. $62 bucks is not a deal breaker. I just hate the fact that i'm giving it to CapitalOne and not Yard House.
It was an honest mistake and you can definitely explain the situation. Honestly, it's likely they will waive it for you considering your overall Capital One relationship.
I wound up having to give Chase a few bucks of interest last month because I forgot my CSP didn't come with an intro APR. Really sucks to pay interest but it was my own fault. I will definately pay more attention moving forward. Lesson learned!!