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FAQs About Statements, Payments and Interest

Get the answers to our customers' most common queries

How can I make a payment?

You can choose from a variety of different ways to make your monthly payments.

By Direct Debit

You need to complete the online Direct Debit mandate, which we'll use to instruct your bank to make regular Direct Debit payments. You can set this up simply and quickly today by signing into your Online Account and going to the "Pay Bill" option, then selecting "Setup / Amend Direct Debit" and following the on screen instructions.

You will be able to set your Direct Debit to make payments in one of the following ways:

  • Pay the minimum payment, or
  • Pay the full statement balance
  • Pay a regular monthly amount


Online with a debit card

To make a payment to your Capital One account, you need to sign in to your Online Account and select the option Pay Bill. You need to quote your debit card number, expiry date, the three digit security code on the reverse of your debit card (often called a CVV number) and the amount that you wish to pay. Your debit card details can be stored so that you can set up regular payments or simply save time next time you make a payment. Please make sure you update your debit card details when your current one expires, so that you don't miss any payments as you could incur a late payment charge.

 

By post

Fill in the payment slip, write your account number and postcode on the back of your cheque or postal order and return it to Capital One in the envelope enclosed with your statement and send to our payment address.

 

At a bank

Take your full statement, including the payment slip and your payment, to any UK bank and pay over the counter. Any bank other than your own may charge for this service.

 

Internet banking, telephone banking and standing order

You can make payments to your Capital One Credit Card account using your bank's telephone or internet service, or by Standing Order. You will need to provide them with Capital One's bank details - account number: 81077082 and sort code: 40-02-50. Please use your 16 digit Capital One Credit Card account number (with no spaces or dashes) as a reference so that we can apply your payment to your account straight away.
Most banks offer a 'Faster Payments' service when you pay by internet banking, telephone banking or Standing Order. Faster Payments received by Capital One before 5.30pm will reach your credit card account the same day. Payments made after 5.30pm will reach your account the next day.

When do I have to pay?

The date your payment is due is printed on your monthly statement and on the left side of your online account screen. Please allow 5 working days for us to receive and process your payment. If we don't receive the minimum payment by the due date you could be charged a late payment fee.

What do I do if I think I have received an incorrect charge?

If you think you have been unnecessarily charged a fee contact us so we can review your account.

I have a duplicated transaction on my statement, what should I do?

If you've made a transaction and it appears on your statement twice or more, you'll need to contact the supplier concerned. It can then take up to 30 days for the refund to be credited to your account.

If you've already done this without success, please contact us with as many details as possible about your transaction, including the date you spoke to the supplier and their response so we can investigate.

There's a transaction on my statement I don't recognise

See if you can recognise the transaction amount and the date of transaction. If you have an extra cardholder on your account you may wish to ask them if they've made the transaction in question or can identify it.

You can find out more about the transaction on the Review Transactions page on your Online Account. You can click on each line to find out more details about each transaction.

If you still don't recognise it, you should try to contact the supplier first. It's important to know that suppliers may not appear on your statement using the same name as they trade under.

If you are still having issues please contact us so we can take a look.

Can I download my statements?

You can save your statement as PDFs on your computer from your Online Account (please ensure you password protect these for your security). You can also choose to download your statement to MS Money or Quicken.

My statement shows an Estimated Interest figure, what is this?

The Estimated Interest figure shown on your statement is an indication of the interest you may be charged on your next statement if you pay the minimum amount due and this reaches us on the due date. Please note: the interest charged will differ from the figure shown if a change is made to either your interest rate, your statement date or if you make any new transactions on your account before your next statement.

When will I receive my statement?

You'll receive your statement once a month (as long as you have a balance) and if you have signed up for your Online Account you will receive an email to let you know when it's ready to view online. We'll send you at least one statement a year, for your records.

Sign up now for access to your Online Account and to go paperfree.

Why haven't I received a statement this month?

We will only send you your monthly statement if you have a balance on your credit card. If you expect to receive an online statement and a paper statement, please check that your contact details are up to date.

Sign in to your Online Account and check your email address and statement preferences. You can also switch off your paper statements here.

The 'Account balance' and 'Available to spend' don't add up to my 'Credit limit'?

When you make a transaction, it's debited from your 'Available to spend' amount, but won't show on your 'Account balance' until the transaction has been fully processed. This can be anything up to 10 days after the transaction was made.

How much will I have to repay each month?

Each month you get a statement from us which tells you your full outstanding balance (everything you have spent plus any interest and charges) and the amount of your minimum payment. You can pay any amount between this minimum payment and your full outstanding balance.

Will my Direct Debit start straight away?

No. Please keep making payments in the normal way until a message on your statement confirms that your payments will be taken automatically by Direct Debit.

Can I make more than one payment a month?

Yes, but you must pay the minimum amount required by the due date shown on your statement.

How long does it take for my payment to reach my account?

How quickly your payment reaches your Capital One account depends on how you pay. For full details of timeframes, please log onto your online account servicing, or check the back of your statement.

What should I do if my payment hasn't appeared on my account?

Make sure you've allowed 5 working days from the date you made the payment (plus 4 additional working days if you posted us a cheque).
If a Direct Debit payment is not showing, please check with your bank before contacting us.

If you paid by cheque at a bank, take your receipt back to the bank where you made the payment, and ask them to trace your payment. Ask your bank if the cheque has been cashed. If it hasn't been cashed, ask your bank to stop the cheque, and then send us a replacement. If it has been cashed, ask your bank to give you a photocopy of the front and back of the cheque. Then send this to us so that we can trace your payment. Please note your bank may charge you for this service.

I've made a payment and my account still says there is a 'Minimum payment due'?

The 'Minimum payment due' information will always be stated on the account service screen, even if the payment has been made. It is only updated on a monthly basis when you receive your new statement. For online payments, sign in to your Online Account to check the online payment history.

Why isn't my recent payment showing?

When you make a payment you should allow 5 working days for it to be credited to your account. Your payment will show under your 'recent transactions' and on your monthly statement.

For online payments, sign in to your Online Account and check your online payment history.

If 5 working days have already passed please contact us and we'll investigate this for you.

How are my payments allocated?

When your monthly statement arrives it requests a minimum payment, but you can choose to pay the balance off in full each month, or pay any amount between the minimum and full balance. You may have different rates of interest, for example for purchases, balance transfers and cash transactions, so you may want to know how your balances get paid off.

Please refer to the back of your statement or the back of the letter that you received with your card for information on how we allocate your payments if you do not pay your outstanding balance in full each month

Why are you unable to process my online payment?

There could be 3 reasons for this:

Incorrect Card Details: The card number is invalid, the card has expired or the expiry date has been entered incorrectly. Please check and re-try if necessary.

Insufficient Funds: There may not be enough cleared funds available to withdraw from your bank account. Your bank will be able to tell you the exact actual amount currently available, and when they can authorise the withdrawal.

Referral: Your bank's authorisation process may not allow large payments to be authorised unless the card is present. To prevent fraud, banks sometimes need your confirmation for online transactions. Your bank may also require certain manual security checks.

It is also possible there maybe a system issue that is preventing the payment being taken.

What happens if I become ill or unemployed? How can I repay my credit card bill then?

If you have Payment Protection Insurance you should refer to your Payment Protection Insurance policy document to see if your payment can be covered through the insurance. Otherwise please contact us so we can discuss how we can help. Remember, the sooner you do this the easier it is to maintain your financial health.

What happens to my Payment Protection Insurance cover if I miss payments on my credit card account?

If you do not make a payment on your account for 3 months, your Payment Protection Insurance will automatically be cancelled.

Can I pay more than the Minimum Payment?

Yes, you can pay as much of your balance as you like at any time. You must pay at least the minimum required, as shown on your statement, or we may charge you for late payment.

What happens if a payment is late, missed or returned?

You will incur charges for any of these situations, these charges are explained in your credit card agreement.

More information on what to do if you have missed a credit card payment

What should I do if I ever get into financial difficulties?

Contact us immediately and tell us the problems you are having as we may be able to help.

Free Independant advice

If you are in severe financial difficulties, there are a number of organisations that can give free, independent advice:

There are other organisations that you can contact for help but they may charge a fee and this can result in your paying more back over a longer period.

How do I know what interest rate I'm paying?

To find out your interest rates you can look at your Terms and Conditions or contact us and we will check your account. If you have balances on your account the interest rate will be shown on your statement.

How does the interest free period work?

You can get up to 56 days interest free on purchases, if you pay off your balance in full each month.

Why have I been charged cash interest when I haven't withdrawn any cash this month?

Because we charge interest on cash transactions at a daily rate, it means that you can't avoid interest charges on withdrawing cash. We'll still charge cash interest on a cash transaction from a previous month if your payments have not been enough to cover the amount of cash that you withdrew plus the interest and fee apportioned to it.

You'll also need to take into account any other transactions you have made (i.e. purchases or balance transfers) and the order in which your payments are allocated to these. There may also be interest due for the time between your last statement being produced and the date we received your payment. Buying foreign currency, travellers' cheques or other type of currency (such as money orders and using online gambling sites) also count as a cash transaction. Please see your credit card agreement for more details.

Will I have to pay interest every month?

We will always charge interest on balance transfers and cash withdrawal transactions, unless you have an introductory standard interest rate or a promotional rate. Credit card cheques can be charged at purchase, balance transfer or cash withdrawal rate. For more information about cash withdrawal transactions please see your credit card agreement or contact us.

How do I cancel regular transactions?

We can't prevent these payments being made because it's an agreement that you've made with the supplier. Contact the supplier directly and request to cancel the payment. Keep a note of the date you made the request and if it was verbal or written. If payments continue to be taken after you have requested them to be cancelled then contact us so we can investigate. You will need to give us the date you requested the payments to be cancelled and any response the supplier gave.