Capital One
Payment Holiday Denied Despite Paying Far Above Minimum

Having been a long standing customer of Capital One, I was very disappointed to see that I was not given a payment holiday for the month of October. I skipped September and paid $1200 today after receiving a notice that I was delinquent. I have consistently paid far in excess of my minimum payment and should have been given the courtesy of missing more than one payment. My September, and October statements clearly state that if I pay more than the minimum payment am eligible for up to "3 months payment holiday". My payment in August was $1500. My minimum payment was $267 or more than 5 times the minimum payment. Today I paid more than double the minimum payment.

I do not financially need a payment holiday, but with the busy day to day goings on, I might miss a payment and don't want to have to worry about Capital One jacking up my interest rate or reporting me as delinquent. That's why, when I make a payment, I put several times the amount stated as my minimum for that month and that I want to pay the card off faster.

Capital One, in all my statements, makes it clear that a payment holiday is possible when paying more than the minimum payment. They should honour it.

Company: Capital One
Country: USA
Site: capitalone.ca

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