For more on my saga of building a credit history, check out my credit history / credit score page.
Last time I mentioned my new credit card and plans for using it, I had used it the first time to pay my cell bill and was waiting for the billing cycle to end. I decided to wait until everything for the cycle was finished until I wrote about it.
Capital One was quite decent, they sent me an e-mail the same day the billing cycle ended and I was able to easily login and pay from my linked account. A couple days later I backed Capital One and my bank account to see that the payment had gone through. Everything was smooth.
As you can sort-of see from the screenshot, the last payment posted on July 4th, the day after I paid it. The billing cycle is 25 days, so it wasn’t due until July 28th.
The paper statement arrived about a week later with still almost 20 days left to get it mailed in on time. It was pretty easy to understand and even had something inside explaining the length of the billing cycle, when things start earning interest (the whole “grace period”) and information about the minimum payment.
Since I took the screen shot today, it shows that I’ve already paid my next month’s cell phone bill. But I’m going to wait until the actual billing cycle to pay it so that it’ll have an effect on my credit history.
Everything with that went smoothly.
Less smooth was the other letter I got from Capital One the other day with “convenience checks.” They’re already trying to get me to take cash advances from my account. So many reasons not to do that, including that they start charging interest right away. No grace period on any form of cash advance.
So I shredded those. Now I’m waiting to see if that’s a one-time (or rare) issue or something they’ll keep doing. I’m not entirely sure the company will be willing to stop sending me those, so I’m going to base how loudly I complain over whether it’s a one-time thing or a real problem.
If it were just that I had to shred them, then I might still be annoyed about the hassle and environmental issues. But if the checks end up in someone else’s hands, it’d be a chance for someone else to commit fraud. I’d report it, of course, but it’s something I don’t want to deal with. I don’t leave my credit card just lying around, and in the same way I’d like to know if there’s access to my money drifting through the postal system.