Capital One Credit Card Complaint

Capital One Credit card department,

Late fee Florida

Regarding - payment processing, CapitalOne has a business practice, which I believe is unethical and should be illegal. I have a PDF file ( attached ) with date/time stamp from my CapitalOne on-line account records to substantiate my complaint. Specifically, when I log into the CapitalOne website to pay my credit card 's monthly bill, their website states that I must make the payment before -. in order for the payment to be posted on the same day ( It used to be - - EST a few years ago ). Currently, this payment cut-off deadline, at - - is four hours before - on the due-date. If a card holder ( like me ) makes a payment ON THE DUE DATE, but between - and -, CapitalOne sets the posting date for the following day and counts the payment as a late payment, charges a late fee, and then use this event as - of - allowable late payment events per year to justify raising the APR rate - significantly. This happens even when payments are made on the due date before midnight within the same timezone as the billing address ( EST in my case ). I suspect that Capital One and other card issuers are using this tactic to collect fees they do not earn and to justify raising APR rates. This practice should be illegal and must be stopped. The correct processing is that all on-line payments scheduled by - - of the due date, should be posted as paid on the due date and accepted as an on-time payment.