This post contains references to products from our advertisers.We may receive compensation when you click on links to those products. Not only are you charged interest on your credit card balance because you did not pay it off within the grace period, but you also have to pay a hefty penalty on top of it.Obviously the easiest way to avoid a late fee is to pay your Capital One credit card on time (you can use our new Android app for debt payment reminders).Capital One considers a late payment to be anything received after p.m. If you think you might mess up the time zone because you are in a different one, then simply schedule your payment one day before the due date. Note: Thanks to The Credit Card Act of 2009, if you mail your payment and the due date is a day when the lender doesn’t accept/receive payments, the payment is considered timely if received the next business day (prior to the cut-off time–in this case, p.m. If you are more than 60 days late on your payment, then Capital One can increase your interest rate. Also, the new interest rate only applies to new charges, not your old charges.Have you been a good, conscientious credit card owner?Here’s a quick Capital One Secured credit card review: So is the Capital One Secured Master Card right for you? It’s a great tool for rebuilding credit and learning to responsibly spend with a credit card.However, the Capital One Secured Master Card might not be your best option if you: As a secured credit card, the Capital One Secured Master Card is accessible to borrowers who have bad credit or no credit.
Despite this, I always paid off the high balances, and because I've been so responsible since, and because I make a decent income, I have a good credit score, much better than the American average. I only have a couple thousand to pay off, but still, the APR makes a difference to me. I was informed that "There isn't another interest rate that we can apply to your card" as though 1 and 7 were the only numbers on her keypad, and bygummit, they could only be entered in that exact order. , says US PIRG consumer program director Ed Mierzwinski.Despite this, I still pay roughly 17% APR on one of my credit cards. And besides, I'd never missed a payment, never been late, and long ago stopped adding to my credit debt. I asked to speak to a manager, and an equally unmovable person got on the line to inform me that there was no way in which my rate could be lowered. ", I shrieked, experiencing a keen sense of deja vu. Sadly, it seems like I'm not alone in my rejection. "They are being much more difficult because they're trying even harder to squeeze the last dollar out of your pocket," he says.So last Friday, when I heard NPR's Morning Edition giving totally unoriginal advice about how to lower your credit card costs, I thought, Lots of people seem to think that you can get out of debt with mere words. "But if you're a good customer you should understand they don't want to lose you because the cost of acquiring new customers is very high." I did apply for a new credit card, and was accepted, but then I read this: But be wary of balance transfer fees, which lately have also been on the rise....I've actually tried this method before, and they called my bluff. ", I shrieked to the customer service rep 2 years ago. Mind you, I wasn't making much money at the time, but still, maybe the bank has a little note on my file that says "Ignore requests for lower interest rate - she can't get one. While most fees used to be 3% of the transferred balance, up to a cap of to , many card issuers have eliminated the cap.So on a ,000 transfer, you'd be hit with a 0 charge. is that most consumers probably won't realize there's no maximum fee because it's completely absent in the fine print.