As of April 26 the balance purchases on account was $1,682.62. Payment was due April 27th, Capital One received payment for $1,682.62 at 9AM April 27th and credited as of that date.
They however charged interest from March 27th thru April 27th for a total of $27.33 (19.80%on the full amount of $1,682.62
This in direct conflict with their first paragraph on the back of the monthly statements under their terms and conditions.
Capital One wording as follows:
""Grace Period. You will have a minimun grace period of 25 days without finance charge on new purchases, newbalance transfers, new special purchases and new other charges if you pay your total "new Balance" in accordance with the Important Notice for payments below, and in time for it to be credited by your next statement closing date. There is no grace period on cash advances and special transfers.in addition, there is no grace period on any transaction if you do not pay the total "New Balance"
Additionally the $27.33 is the balance now on the account, except that it is not $27.33 but more than $27.33 (they could not tell me) since they are adding interest to the interest...
After speaking with two agents got nowhere. Capital One is obvously using predatory financial practices and needs to be stopped NOW!
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