Capital One Credit Card Complaint

Capital One Credit card department,

Late fee California

This complaint refers to a specific recurring issue regarding the manner in which Capital One processes payments. My due date to pay my credit card bill is on the - of the month with no grace period. However, payments actually made on the due date incur a significant late fee because Capital One says payments made that day are processed '' and then posted the next day. They claim a cut off of - eastern time in terms of processing payments made that day. My contention, and I was told by the customer service person that this is a common complaint, is that if I make a payment on that date, whether it is early in the day or - minute prior to -, should be accounted for that day. Their policy, somehow written into the credit card agreement and no doubt buried somewhere in the mountain of fine print typical of cc agreements, is an absurd and egregious money grab. I asked that my credit card account and all billing issues be frozen until this matter was resolved and was refused. Also, credit card companies should be held accountable for these kinds of anti consumer practices. Some of us are smart enough to know that they have armies of lobbyists who allow them to get away with sticking it to us with crazy fees and penalties for the smallest mistake, but this is no mistake. If my due date is the - and I pay on the -, I should not be penalized regardless of their internal policy, accounting or cut off time. In fact, the cut off time should be moved to the - to allow time for processing payments that were made on the -.