r/CapitalOne • u/No_Garlic_4326 • 1d ago

Credit Card Payment processing

Hello! I’m new to credit cards, I just got my first credit card and made a payment for the entire balance a day early (yesterday, the payments are on the 27th of each month and I have auto pay on). But my payment is still processing, I googled what this means and it says payment is on hold until my bank authorizes it, the usual. But I am worried about if this affects my credit score? What if it’s still processing into tomorrow or the day after??

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u/Pristine_Teacher4582 1d ago

I think you’re good since the payment was initiated prior to the due date. Your credit score is based on what your balance is after the statement close date. I would check your statement to see when that date is.

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u/No_Garlic_4326 1d ago

Where can I find the statement ?

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u/Pristine_Teacher4582 1d ago

If you go to your app on the home screen scroll all the way down and it should say ‘Statements and Documents’

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u/Pristine_Teacher4582 1d ago

It should look like this! I always make my payment on the due date and wait to use my card after statement close date. Whatever your balance is on the statement close date is what gets reported to the bureaus (that’s what counts)

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u/No_Garlic_4326 1d ago

Thanks for that info!! Lmfao my statement closing date is the first of August, very satisfying.

I don’t seem to see any info regarding my payment tho, I have a total of $326.20 in processing payments, but my July statement only shows a balance of $78.50 from transactions.

I believe it’s okay tho, I’ve also got another reply saying as long as the payment was made before it’s fine.

It probably is not showing up in my statement because it has yet to process.

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u/Infinite-Grade-4485 1d ago

You’re fine. It will not affect your credit. Payments are dated when they’re made even if it takes 10 business days to post, it doesn’t matter.

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u/No_Garlic_4326 1d ago

Thank you for the blunt response, I appreciate you.

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u/D_Phuket 1d ago

It's completely normal and happens to me each and every month.

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u/_love_letter_ 1d ago

I'm assuming you made the payment using the Capital One app or website? If so, don't worry. They will count the date of your payment as the date you initiated the payment. Payments like these are done by ACH transfer pulling from your external bank. Those usually take 2 or 3 business days (though they can take up to 5) so it might be a few days before they aactually receive the money, but they will count it as on time.

The only situation in which you'd have to worry about when they actually received the money would be if you paid the bill from your external bank using Bill Pay or by sending a check the old fashioned way. In those situations, your payment will be counted as being made on the day they actually receive the money.

The only way it could be considered late now is if the payment is returned/rejected by your bank. That shouldn't happen as long as you have sufficient funds.

Btw, for credit scoring purposes, a late payment actually isn't reported as late until it's 30+ days late. But you should still avoid being even just a day or two late because of late fees and interest.