My carelessness is making me pay CapitalOne $62 in interest!!! They pulled a fast one on me

[Membersince2013]

The rep not only waived the interest charge, but he also reset the grace period and told me that i won't be charged any interest on my next statement regardless of if i pay the statement balance or not!

I LOVE YOU CAPITALONE!

[Anonymous]

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@Membersince2013 wrote:

The rep not only waived the interest charge, but he also reset the grace period and told me that i won't be charged any interest on my next statement regardless of if i pay the statement balance or not!

I LOVE YOU CAPITALONE!

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Good deal!

[Kellan]

As a computer guy who does write software I can say it has been so secret that banks have tuned they software to charge fees. How many banks process debits before deposits. I think that was outlawed but was a common practice of many banks. The of the revenue that it creates. Most customers will just live with it. Only a few will call. The ones that call it is nothing to credit them back the intrest, because so many others wont bother to call.

Expecially with banks like CapOne. Being a sub prime lender many people are grateful to have a card from them.

[Anonymous]

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@Membersince2013 wrote:

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.

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The lesson is: if you have 12, 15 or 18 months of zero interest, why wait for the last possible hour to send a payment? And how can someone "forget" about an APR of xx.xx% coming up on borrowed money? Glad C1 helped you out even though it was your own ignorance causing the problem in the first place.

[FinStar]

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@Membersince2013 wrote:

The rep not only waived the interest charge, but he also reset the grace period and told me that i won't be charged any interest on my next statement regardless of if i pay the statement balance or not!

I LOVE YOU CAPITALONE!

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Glad to hear they were flexible and waive the f/c and thensome.  I had a feeling they would come through

[Anonymous]

I really like Capital One too. They gave me a chance to build my credit twice now in a short period and their mobile app is easy and convenient.

[FinStar]

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@Anonymous wrote:

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@Membersince2013 wrote:

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.

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The lesson is: if you have 12, 15 or 18 months of zero interest, why wait for the last possible hour to send a payment? And how can someone "forget" about an APR of xx.xx% coming up on borrowed money? Knock on wood that C1 will help you out even though it was your own ignorance causing the problem in the first place.

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Sound a little sour?  Companies are flexible enough to understand situations like these can and will happen.  The OP already mentioned his ordeal - he wasn't demanding Capital One to do it or else!  He simply conveyed his experience since it will help others in the end to be aware of those BT terms and what can happen if one overlooks/forgets.  As far as the OP, he wasn't looking for a handout, merely Capital One's understanding.  At the end of the day, those CSRs are human too and in the interest of customer service they waived the f/c.  Capital One keeps a happy customer.  This wasn't the case where the OP was doing it repeatedly.

I'm sure you don't forget "anything". 

[FinStar]

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@Anonymous wrote:
I really like Capital One too. They gave me a chance to build my credit twice now in a short period and their mobile app is easy and convenient.

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Agree, not many people are fond of Capital One and it's understandable to a certain extent.  While my experience did not originate from a rebuilding mode perspective, my relationship with them started way back in the late 90's when they absorbed Singet Bank.  I've never had any major issues with them.