I had no idea that so many other people are reporting they have experienced assessment late fees because Capitol One held their payments. I only started looking around at this stuff after being ripped off and treated terribly by a different credit card company. I have had a Capitol One card for a long time. Several times I have been hit with a late fee by them, with the payment posted the same day or one day after that. I thought maybe I wasn't getting it in the mail soon enough.
I read at least one former employee's suggestion to contact the company about the fee and they will remove it. I can say that this DID work the several times in my situation. Really without too much hassle except making the call, and except my blood pressure upon seeing the statement. The time the late fee and payment posted on the same day, I went through the roof. They explained that it was the timing of the payment (for example, received by noon...) which I don't buy into that is ridiculous. They did credit it without argument or elevating it to someone else. The one time I didn't call about 6 months ago payment was about 3 days late and I assumed it because I didn't get it in the mail until about 4 days before the due date.
Another thing that has worked for me for this situation is to do on-line bill payment through on-line banking source where you choose when and how much to pay (not the credit card company themselves). Although the bank/payment source do not take responsibility if you schedule a late payment or don't have funds available, this gives you proof of when your payment was mailed and arrived or when the electronic payment was done. This Capitol One is universal enough they can take electronic payments - they can't mess with your bank account, and they can't argue with your bank that the electronic payment wasn't sent... It gives you a third party bigger than you are in the mix. I haven't had any problems with any late payment fees since I went to this.
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