Consumer complaint received 2025-04-29 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA

Complaint narrative:
I have a Capital One Quick Silver credit card. They payment is due on the third of each month. I made my payment on the due date but received a late payment fee on the same day as my payment due date ( picture from company app attached ). XXXX dropped Capital One as a credit card provider due to customer service deficiencies including without limitation to Capital One violating the agreement by being slow to process transactions, failing to process payments within one day of receipt, and being slow to replace lost or damaged cards. Even though I made my payment on the due date I am still being charged a late fee. I called and asked to have the fee waived and Capital One declined. Capital One is attempting to merge with XXXX XXXX XXXX. XXXX does not charge a late fee the first time you pay late or miss a payment. XXXX also gives customers until midnight on the payment due date to make their payment before assessing late fees. If Capital One merges or acquires XXXX will it continue giving customers until midnight on the payment due date to make their payment or will Capital One change the cut off time to XXXX? The XXXX cut off time is so that Capital One receives the funds the same day as the payment and does not take into consideration the payment due date or day after the payment due date being on a holiday. This fee is not to ensure on time payments and deter late payments it all about when Capital One receives the funds. Even though payment was made on the due date and Capital One incurred no cost it is still charging a late fee just because they can and as additional profit. Capital One uses an automated system to The CFPB is trying to implement a new rule that would cap late fees at {$8.00}. 

CapitalOne 's like 's to quote or refer to the Customer Agreement which does not specify or specifically state that online payments have to be made before XXXX pm which is should a copy of the Customer agreement is attached for your review. CapitalOne should have to explain why the payment cutoff time is not specified in the Customer Agreement. It is my opinion that CapitalOne does not specify a payment cutoff time in the Customer Agreement is so that they can change it whenever they want and then claim it was printed on you billing statement ( not prominently or conspicuously and in very small type ). Additionally, the billing statement does not prominently or conspicuously advise customers that they have to make online or phone payments by XXXX. What happens if I mail my payment in plenty of time for CapitalOne to receive it before the due date and CapitalOne does not process it until after the due date? 

CapitalOne will not do as the customer ask and credit the late fee back to the account for a payment that was made on the payment due date it was just made after XXXX and CapitaOne did not receive the funds from the bank until XX/XX/year> instead of XX/XX/year>. In other words I am being penalized because CapitalOne did not receive the funds from my bank the very next day XX/XX/year> and had to wait an additional day to receive the funds from my bank even though I made my payment on time and on the payment due date. The only response from CapitalOne is we are respectfully declining your request for a credit and sign up/enroll in auto pay. This is what CapitalOne considers the highest level of quality service to its customers? If the payment due date was XX/XX/XXXX and even if I made my payment before the XXXX cutoff time, CapitalOne would still have to wait until the next business day for my bank to process the transaction and send CapitalOne the funds. CapitalOne did not suffer any damages for me paying my bill on time and this fee is not to incentivize on time payments it is bolster the credit card company 's bottom line even for on time payments. Please refer to the study conducted by the CFPB about late fees. 

Even after admitting not complying with the contract its " contractual obligations with XXXX, CapitalOne still refuses to waive this fee.

Company response to consumer: Closed with explanation