Cap One not reporting negative bal?

[Anonymous]

I had a negative bal of $6.87 with Cap 1 at statement closing. Didn't intend this but, I have autopay setup where cap 1 pulls their minimum payment from my bank, and I also have my bank "push out" payments to Cap 1. Well, Cap 1 pulled their min payment as well as receiving a payment from my bank, putting me at $ -687. With their now "erratic" billing cycle, a subscription I have for about $7 didn't post till after the acct billed (according to Cap1, cuz I still don't have a statement for Feb).  It's been a week since my acct "billed"  but I've noticed they haven't reported  to any bureau. Is this normal behavior for  them? I had a negative $1.12 with Citi once and they reported a zero bal. It really doesn't bother me, just want to know if this is the norm for them.

[SouthJamaica]

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@Anonymous wrote:

I had a negative bal of $6.87 with Cap 1 at statement closing. Didn't intend this but, I have autopay setup where cap 1 pulls their minimum payment from my bank, and I also have my bank "push out" payments to Cap 1. Well, Cap 1 pulled their min payment as well as receiving a payment from my bank, putting me at $ -687. With their now "erratic" billing cycle, a subscription I have for about $7 didn't post till after the acct billed (according to Cap1, cuz I still don't have a statement for Feb).  It's been a week since my acct "billed"  but I've noticed they haven't reported  to any bureau. Is this normal behavior for  them? I had a negative $1.12 with Citi once and they reported a zero bal. It really doesn't bother me, just want to know if this is the norm for them.

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The norm for all creditors with which I have dealt is to report a credit balance as a zero balance.

[MoneyBurns]

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@SouthJamaica wrote:

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@Anonymous wrote:

I had a negative bal of $6.87 with Cap 1 at statement closing. Didn't intend this but, I have autopay setup where cap 1 pulls their minimum payment from my bank, and I also have my bank "push out" payments to Cap 1. Well, Cap 1 pulled their min payment as well as receiving a payment from my bank, putting me at $ -687. With their now "erratic" billing cycle, a subscription I have for about $7 didn't post till after the acct billed (according to Cap1, cuz I still don't have a statement for Feb).  It's been a week since my acct "billed"  but I've noticed they haven't reported  to any bureau. Is this normal behavior for  them? I had a negative $1.12 with Citi once and they reported a zero bal. It really doesn't bother me, just want to know if this is the norm for them.

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The norm for all creditors with which I have dealt is to report a credit balance as a zero balance.

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This 100% ^^^^^^^^

[Anonymous]

Thanks for the response @SouthJamaica SouthJamaica and  @MoneyBurns 

That has been my experience with Citi, reporting negative balance as zero. Not sure what Cap 1 is doing but, ah well!

[Anonymous]

Capital One has also been known in the past to send you a check if you have a negative statement balance, so look for one possibly showing up in your mailbox.

[FlaDude]

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@Anonymous wrote:

Capital One has also been known in the past to send you a check if you have a negative statement balance, so look for one possibly showing up in your mailbox.

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I've had the same for Lowes, and I think Citi too.

[RobertEG]

Official CRA policy, stated in their common credit reporting manual, the Credit Reporting Resource Guide, is that furnishers should report $0 balance if the current balance is negative.

[Anonymous]

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@Anonymous wrote:

I had a negative bal of $6.87 with Cap 1 at statement closing. Didn't intend this but, I have autopay setup where cap 1 pulls their minimum payment from my bank, and I also have my bank "push out" payments to Cap 1. Well, Cap 1 pulled their min payment as well as receiving a payment from my bank, putting me at $ -687. With their now "erratic" billing cycle, a subscription I have for about $7 didn't post till after the acct billed (according to Cap1, cuz I still don't have a statement for Feb).  It's been a week since my acct "billed"  but I've noticed they haven't reported  to any bureau. Is this normal behavior for  them? I had a negative $1.12 with Citi once and they reported a zero bal. It really doesn't bother me, just want to know if this is the norm for them.

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I had Cap1 hit me with a second interest fee one month which prevented my regular large recurring charge to come through, so I tend towards a slight overpayment to avoid this faux pas happening ever again. What @Anonymous  said, look for a check in the mail, yes? You received the return of funds via check in the mail, right? 🙏🏻

[Horseshoez]

Hopefully CapitalOne refunds an overpayment faster than they did my security deposit after paying off and closing my secured CapOne card last year.  I closed the card the first week of June and didn't get my deposit refunded via a check in the mail until September.

[Duke_Nukem]

If I understand the question correctly, CapOne didn't report anything to the CRA's... not even a $0 balance?

I'm seeing something similar in my DW's account.  She had the statement cut last week with a $4.24 balance, but it has yet to report to the CRA's.  Also peculiar, no minimum payment is listed due on her due date.

Not sure if CapOne is just running behind on reporting to the CRA's, or if balances less than $5 just don't get reported to the CRA's.  I'm thinking CapOne is just late in reporting, but who knows???