My payments are due on the 25th. I made a pmt. January 22nd, well within the time frame. But because of the elevated threat level and my work schedule, I have been so slammed I forgot to make my pmt. due on Feb. 25th. I just made it tonight. I called Cap1 and they said no problem, this is not reported as 30 days late to the CRA's, even though they hit me for a late fee. IS THIS TRUE? I'm just not confident she knew what she was talking about. ((
That is true. Most lenders/creditors do not report to credit bureau unless you are at least 30 days late. I wouldn't worry about it.
One day late "CAN" be reported as 30 DAYS LATE... It all depends on the BANK... Some banks even have a "CUT OFF" of 1pm or 11am, then it is LATE!!!
They don't report until the full 30 days have elapsed...so if you're one or two (or even fifteen) days late, it still won't show as a 30d delinquency.
Okay...I know this is not in response to Butch's question and I apologize to Butch if I appear to be hijacking his thread, but this does pertain directly to Cap One and I thought it better to mention it here rather than starting a new one.. I was reading online about Capital One on a different site that I will have to find the link for...anyway what it said was that Cap One has had a lot of complaints from consumers because Cap One refuses to list the Credit Limit on credit reports. Consumers complain that this is incomplete reporting. When pressured by the consumer to provide the credit limit information they have many times responded by deleting. So those of you with a Cap One TL...is there a reported Credit Limit on your reports? There isn't one on mine.
Butch, When I did have a Capital One in the past and I was paying on it before it ever got delinquent and got charged off, I sometimes was late as much as 15-20days and it was never reported late. I don't think you anything to worry about. Tac
It will reset your account for the 6-8 month review period. If I were you, I'd call and get a supervisor. Be polite and explain that the elevated threat level affects you (are you military? if so, you could use the Sailors and Solder's Relief act)... anyway, be nice and tell them you're extremely concerned about your relationship with Cap1 and that you are hoping they can remove the fee b/c the notation of that payment being late will reset your clock for line increases and apr reductions... they can remove the fee but you have to ask nicely..."as a gesture of goodwill" a "one time removal" of the fee and late notation
Re: Re: Cap 1 Question! They don't report limits, and they'll delete (at least TU does) if you contest.
It maybe true that you can be a few days late and not get a 30 day late but they will charge you with their $39 late fee (ouch!)
My OC reported 1 day late as 30 days late It's NOT Cap-One though. I'm not revealing the name of the bank -- lakpr
I have paid Cap 1 a day or two late before and it never impacted my credit report...only my wallet when I got hit with the late fee. Have you looked into the online payment option with Cap 1? Payments are debited from your checking account and generally post to your Cap 1 account within 24-48 hours. Its a great way to go unless you need the time between the time a payment is mailed and when it hits your account.
Thanks gang, They recredited the fee. But as far as restarting the 6-9 month waiting period there's no way to waive that. I start all over. Just so ya know.
I called and asked (acted naive) Cap 1 to report our actual CL, as opposed to the high balance. The rep was very nice and filled out a form and everything, but it isn't being reported yet. It hasn't been quite a month, so I'll have to wait a little longer to see if they will honor their word. You can just run up the balance close to the limit and then pay it on the next cycle. That will make your CL appear higher. They should be seriously fined for this practice.
Especially if you dispute, it will likely end up deleted, effectively screwing you over. Maybe I should play dumb and say that I thought that they were reporting the wrong CL to TU ($0) but the whole thing accidentally got deleted.
I agree with everyone regarding the CL issue. I know this has been debated here before, and wouldn't this constitute incomplete/inaccurate reporting??? Or, don't they have an obligation to report the CL? I'm not sure on that one. It's just that my two oldest tradelines (and ironically enough, the ones with the highest CL's) are from Cap1. So, my ratios are consistently screwed up which I'm SURE impacts my scores.
