@UncleB wrote:
@Anonymous wrote:
@UncleB wrote:Just another 'data point'... in your example everything would work out fine, since your payment combined with the statement credit would effectively PIF the account.
However, with most lenders (actually, every lender I've got) a statement credit alone can't be used to satisfy your minimum payment. For example, if your balance was $200 with a $35 minimum payment and you got a statement credit for $50, you would still have to make a payment even though the statement credit was for more than your minimum required payment amount.
If you had a statement credit that was exactly for the amount of your bill for a month (with no additional amount due to PIF) , in theory it should 'cancel out', but in this case I would still call to make sure everything had processed correctly. An ounce of prevention is worth a pound of cure...
It could be there would be no problem at all, but to me it's much easier to just check in advance if you ever find yourself in that situation (or if you're ever in doubt with a different lender).
Hmm, what if statement balance was $35 and minimum balance is $35 (not sure if this is possible?)
Would statement credit be considered as payment?
If it were me - and I had that exact situation - I would take the statement credit, then call to make sure a payment wasn't still due.
It might be that you'd be fine... but if they go by the exact wording, most of mine explicitly state that a statement credit can't be used to satisfy a minimum payment. I realize there's some 'wiggle room' there since in your hypothetical situation the credit would cover the entire balance, but I wouldn't leave my payment history up to "woulda/shoulda" scenarios. It's just too simple to make a call to be sure everything was processed correctly.
That being said, this is why I always have them send me a check... it takes a week or so, but I can use the money for anything I please, including making a minimum payment if in a pinch.
How come no DD, bud?
Also, sometimes CSRs give me wrong information....so.....best to learn from people who might already have experience. 
@Anonymous wrote:
@UncleB wrote:
@Anonymous wrote:
@UncleB wrote:Just another 'data point'... in your example everything would work out fine, since your payment combined with the statement credit would effectively PIF the account.
However, with most lenders (actually, every lender I've got) a statement credit alone can't be used to satisfy your minimum payment. For example, if your balance was $200 with a $35 minimum payment and you got a statement credit for $50, you would still have to make a payment even though the statement credit was for more than your minimum required payment amount.
If you had a statement credit that was exactly for the amount of your bill for a month (with no additional amount due to PIF) , in theory it should 'cancel out', but in this case I would still call to make sure everything had processed correctly. An ounce of prevention is worth a pound of cure...
It could be there would be no problem at all, but to me it's much easier to just check in advance if you ever find yourself in that situation (or if you're ever in doubt with a different lender).
Hmm, what if statement balance was $35 and minimum balance is $35 (not sure if this is possible?)
Would statement credit be considered as payment?
If it were me - and I had that exact situation - I would take the statement credit, then call to make sure a payment wasn't still due.
It might be that you'd be fine... but if they go by the exact wording, most of mine explicitly state that a statement credit can't be used to satisfy a minimum payment. I realize there's some 'wiggle room' there since in your hypothetical situation the credit would cover the entire balance, but I wouldn't leave my payment history up to "woulda/shoulda" scenarios. It's just too simple to make a call to be sure everything was processed correctly.
That being said, this is why I always have them send me a check... it takes a week or so, but I can use the money for anything I please, including making a minimum payment if in a pinch.
How come no DD, bud?
Also, sometimes CSRs give me wrong information....so.....best to learn from people who might already have experience.
I agree, some CSRs are right-on-the-money, while others (while giving a good effort) leave a bit to be desired. That's why whenever I'm in doubt, I call back after the 'event' to make sure everything posted correctly (and/or the first CSR I spoke with was correct).
As for Capital One rewards redemptions, DD isn't an option, at least not for me. Here's what I have available right now:
Under 'Other Options' there's currently nothing... just like the graphic shows (no drop down or anything). Also, I'm not exactly sure what the difference is between the "account credit' and 'redeem for purchases' options. For a Venture I can see why the designation would be needed (travel redemption gets a higher reward) but both of my cards are Quicksilver accounts, so this is a 'head scratcher' for me.
So far, I've always simply requested a check, which works best for me. 
@UncleB wrote:
@Anonymous wrote:
@UncleB wrote:
@Anonymous wrote:
@UncleB wrote:Just another 'data point'... in your example everything would work out fine, since your payment combined with the statement credit would effectively PIF the account.
However, with most lenders (actually, every lender I've got) a statement credit alone can't be used to satisfy your minimum payment. For example, if your balance was $200 with a $35 minimum payment and you got a statement credit for $50, you would still have to make a payment even though the statement credit was for more than your minimum required payment amount.
If you had a statement credit that was exactly for the amount of your bill for a month (with no additional amount due to PIF) , in theory it should 'cancel out', but in this case I would still call to make sure everything had processed correctly. An ounce of prevention is worth a pound of cure...
It could be there would be no problem at all, but to me it's much easier to just check in advance if you ever find yourself in that situation (or if you're ever in doubt with a different lender).
Hmm, what if statement balance was $35 and minimum balance is $35 (not sure if this is possible?)
Would statement credit be considered as payment?
If it were me - and I had that exact situation - I would take the statement credit, then call to make sure a payment wasn't still due.
It might be that you'd be fine... but if they go by the exact wording, most of mine explicitly state that a statement credit can't be used to satisfy a minimum payment. I realize there's some 'wiggle room' there since in your hypothetical situation the credit would cover the entire balance, but I wouldn't leave my payment history up to "woulda/shoulda" scenarios. It's just too simple to make a call to be sure everything was processed correctly.
That being said, this is why I always have them send me a check... it takes a week or so, but I can use the money for anything I please, including making a minimum payment if in a pinch.
How come no DD, bud?
Also, sometimes CSRs give me wrong information....so.....best to learn from people who might already have experience.
I agree, some CSRs are right-on-the-money, while others (while giving a good effort) leave a bit to be desired. That's why whenever I'm in doubt, I call back after the 'event' to make sure everything posted correctly (and/or the first CSR I spoke with was correct).
As for Capital One rewards redemptions, DD isn't an option, at least not for me. Here's what I have available right now:
Under 'Other Options' there's currently nothing... just like the graphic shows (no drop down or anything). Also, I'm not exactly sure what the difference is between the "account credit' and 'redeem for purchases' options. For a Venture I can see why the designation would be needed (travel redemption gets a higher reward) but both of my cards are Quicksilver accounts, so this is a 'head scratcher' for me.
So far, I've always simply requested a check, which works best for me.
Dude........
I just realized there's no DD option for Cap one. 
LOLOLOL...... wow that sucks, my bad.
I shall use receive by check from now on!
Btw, how long does it take to receive?
@Anonymous wrote:
@Anonymous wrote:This is hypothetical, right? Your current qs is under 0% promo I would assume?
Well the numbers aren't, but I'm in a similar situation. I PIF nonetheless. Just wondering how it would play out.
PC'd Journey to QS within 1 month. No 0% offer. (Sadly
)
Pffffft. who cares! Carrying a balance more than a month or two will circumvent any rewards you've earned. Besides, by PC'ing the Journey you avoided a triple pull from capital one. Job well done.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:This is hypothetical, right? Your current qs is under 0% promo I would assume?
Well the numbers aren't, but I'm in a similar situation. I PIF nonetheless. Just wondering how it would play out.
PC'd Journey to QS within 1 month. No 0% offer. (Sadly
Pffffft. who cares! Carrying a balance more than a month or two will circumvent any rewards you've earned. Besides, by PC'ing the Journey you avoided a triple pull from capital one. Job well done.
Thank you! And thats true lol, I will never carry interest on my CCs.
I am salty about not getting it as a Visa siggy though.
@Anonymous wrote:Dude........
I just realized there's no DD option for Cap one.
I shall use receive by check from now on!
Btw, how long does it take to receive?
The times I've requested a check, it took a little over a week. Not quite as quick as a statement credit, but prompt.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:This is hypothetical, right? Your current qs is under 0% promo I would assume?
Well the numbers aren't, but I'm in a similar situation. I PIF nonetheless. Just wondering how it would play out.
PC'd Journey to QS within 1 month. No 0% offer. (Sadly
Pffffft. who cares! Carrying a balance more than a month or two will circumvent any rewards you've earned. Besides, by PC'ing the Journey you avoided a triple pull from capital one. Job well done.
+1
@UncleB wrote:
@Anonymous wrote:Dude........
I just realized there's no DD option for Cap one.
I shall use receive by check from now on!
Btw, how long does it take to receive?
The times I've requested a check, it took a little over a week. Not quite as quick as a statement credit, but prompt.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:This is hypothetical, right? Your current qs is under 0% promo I would assume?
Well the numbers aren't, but I'm in a similar situation. I PIF nonetheless. Just wondering how it would play out.
PC'd Journey to QS within 1 month. No 0% offer. (Sadly
Pffffft. who cares! Carrying a balance more than a month or two will circumvent any rewards you've earned. Besides, by PC'ing the Journey you avoided a triple pull from capital one. Job well done.
+1
Statement cred is about 3 days, I believe?
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:This is hypothetical, right? Your current qs is under 0% promo I would assume?
Well the numbers aren't, but I'm in a similar situation. I PIF nonetheless. Just wondering how it would play out.
PC'd Journey to QS within 1 month. No 0% offer. (Sadly
Pffffft. who cares! Carrying a balance more than a month or two will circumvent any rewards you've earned. Besides, by PC'ing the Journey you avoided a triple pull from capital one. Job well done.
Thank you! And thats true lol, I will never carry interest on my CCs.
I am salty about not getting it as a Visa siggy though.
I would be too. But now that you've got the FNBO 2%'er...... and surely the APR on the QS is higher anyway.... unless you want to grow your limit with capital one, I dont know why you would...I would just use it a few times a year. Cap1 is only good for a few things. Giving you credit when others wont, which you obviously dont have this problem. Honoring your limits when others wont in times of financial crises. Also making it difficult to get APR reductions, or sometimes even CLI's. I am asking for my 6 month CLI the middle of this month. If its not approved I am probably closing the card. We have outgrown them. Besides, if our 2% cards were dc'ed for whatever reason, taking a triple hit from cap1 would give better interest rates and limits anyway. BAH
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:This is hypothetical, right? Your current qs is under 0% promo I would assume?
Well the numbers aren't, but I'm in a similar situation. I PIF nonetheless. Just wondering how it would play out.
PC'd Journey to QS within 1 month. No 0% offer. (Sadly
Pffffft. who cares! Carrying a balance more than a month or two will circumvent any rewards you've earned. Besides, by PC'ing the Journey you avoided a triple pull from capital one. Job well done.
Thank you! And thats true lol, I will never carry interest on my CCs.
I am salty about not getting it as a Visa siggy though.
I would be too. But now that you've got the FNBO 2%'er...... and surely the APR on the QS is higher anyway.... unless you want to grow your limit with capital one, I dont know why you would...I would just use it a few times a year. Cap1 is only good for a few things. Giving you credit when others wont, which you obviously dont have this problem. Honoring your limits when others wont in times of financial crises. Also making it difficult to get APR reductions, or sometimes even CLI's. I am asking for my 6 month CLI the middle of this month. If its not approved I am probably closing the card. We have outgrown them. Besides, if our 2% cards were dc'ed for whatever reason, taking a triple hit from cap1 would give better interest rates and limits anyway. BAH
Good points there, definitely agree! Only going to use cap one when necessary. Everything else is going on my fnbo. Why don't you just SD?
Lol, my apr for fnbo for both cash advances and purchases is only 11%.