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LaToya Irby

Capital One Charges Fee on 45-Minute Late Payment

By August 21, 2010

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Earlier this month, About.com Reader Tami says Capital One is her worst credit card because they charged a late fee on her Capital One credit card payment even though it was paid on the due date before 5 p.m. Capital One's excuse: the payment was made after 5 p.m. Eastern time. Tami lives in the Pacific time zone.

The Credit CARD Act does allow credit card issuers to specify a 5 p.m. cutoff time for accepting credit card payments, but the law doesn't say the cutoff time applies to a specific time zone. Still, I believe any cardholder would assume 5 p.m. cutoff applies to their time zone. How is anyone supposed to know the time zone of the credit card issuer's payment processing center?

Watch out. Capital One may not be the only credit card issuer to pull a stunt like this. If you're making a payment the day it's due, you'll be better off sending payment in the morning to avoid any time zone issues. Making your payment well in advance of the due date will eliminate the due time issue.

September 29, 2010 at 3:39 am
(1) Federico says:

Capital One does not have an easy Automatic payments procedure.
Considering that it is easy to forget one payment, even having money, it is clear that the Crooks are happy to apply the late payment fee.

June 7, 2012 at 10:19 pm
(2) Nathaniel says:

You can easily call the customer service and kindly request it be taken off. Capital one is very flexible for the customers good in many different ways. Never before have I heard of such kindness towards customers come from a card company than I have personally witness by capital one. Not only that, if you are due or overdue capital one Will let you know and tries to help you catch up if you are delinquent.

March 7, 2013 at 11:38 pm
(3) Richard says:

Capital One has a long history of illegal practices. Reposting payments so they are late, and charging a late fee, claiming that payments mailed were never received (received but thrown in their dumpsters)and on and on.

They so deserved the 25 million dollar fine the federal government levied against them (they got off easy actually).

If you are trying to rehabilitate your credit, or even if you just need credit, do not do business with these thieves.

December 7, 2013 at 8:40 pm
(4) Annette says:

I have been dealing with Capital One for a couple of years now and it amazes me to hear such negative feed back. The customer service is outstanding, and contrary to any advise to hold back on business, I advise that anyone re establish credit through them. Thank you CAPITAL ONE!

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