How much is the Capital One Journey minimum payment?

The Capital One grace period lasts at least 25 days. It is the time between the close of a billing cycle and when your bill is due. You won’t be charged interest during the grace period if you pay your balance in full by the due date every month. Grace periods aren’t permanent, though. You will lose your Capital One grace period if you don’t pay your bill in full one month. As a result, purchases will begin to accrue interest right away. Plus, you’ll have to pay in full two months in a row to get the grace period back.… read full answer

Those are the basics of the grace period, but there are a few more relevant details to be aware of.

Here’s what you should know about the Capital One grace period:

• The grace period for Capital One cards is at least 25 days. It allows you to avoid interest on your monthly balance between the end of your billing period and your due date.
• If you lose your grace period, you can get it back by paying your full balance on time for two consecutive months.
• The grace period doesn’t apply to cash advances or balance transfers. Interest starts accruing as soon as you get a cash advance. It starts accruing right away on balance transfers too, unless you have a 0% APR introductory period.

The Capital One grace period is a useful perk that saves you money on interest. So, it’s yet another reason to always pay your bill in full and on time. And setting up automatic monthly payments from a bank account is a great way to make sure that happens.

You can make a Capital One credit card payment online, by phone, through the Capital One mobile app, by mail or at a branch. To pay a Capital One credit card bill online, log in to your online account and click on "Make a Payment." Then, choose how much to pay, when to pay it, and where the payment is coming from. Capital One does allow cardholders to set up automatic payments, too.… read full answer

Ways to Make a Capital One Credit Card Payment

• By phone: Call the number on the back of your card and enter your card information when prompted.
• Online: Log in to your online account and click on "Make a Payment."
• Through the mobile app: Log in to your account and select your card, then tap "Make a payment."
• By mail: Send a check or money order (but not cash) to Capital One / Attn: Payment Processing / PO Box 71083 / Charlotte, NC 28272-1083. Make sure to send it early enough that it will arrive by the due date. Write your credit card number on the check, too.
• At a branch: You can make a payment at any Capital One branch during normal business hours.

The Capital One credit card minimum payment is your balance if it is less than $25. For balances higher than $25, the minimum payment is 1% of the balance, plus any accumulated interest. Capital One will also add any past due amount and late payment fees to your minimum payment.

A minimum payment is the least amount you can pay by the due date and still be in good standing on your account. There is no standard formula or guidelines for calculating minimum payments, but issuers generally require a percentage of the balance, including fees and interest.

Making only the minimum payment each month may seem like you’re saving money, because you’re taking such a small amount from your budget while still meeting your monthly obligations. But if you carry a balance, you’ll notice that the balance doesn’t appear to be getting any smaller each month. That’s because a chunk of your minimum payment is applied to interest, and very little, if any, is paying down the actual balance.

By law, Capital One and all other issuers are required to publish an informational chart on your credit card that illustrates how long it will take you to pay off the balance if you make only the minimum payment, and how much you will end up paying in interest. It also shows you how much you should pay in order to pay off the balance, assuming you make no additional purchases on your card.

Not making at least the minimum payment due comes with another set of issues. You will be charged a late payment fee of up to $40 if Capital One doesn’t receive the required minimum payment by the due date. The late fee will be tacked on to your next month’s statement, along with additional interest on top of the unpaid balance.

When making just the Capital One minimum payment, less will end up being more in the long run. If you’re unable to pay off your entire balance, put down as much as you can without sacrificing your other monthly debts. Any payment above the minimum will be applied to your balance with the highest interest rate.

If you plan on financing a purchase, consider a Capital One card with a 0% introductory APR. Capital One Quicksilver Cash Rewards Credit Card, for instance, offers an introductory purchase APR of 0% for 15 months (15.24% - 25.24% (V), based on the specifics of your credit, thereafter). If you’d like to repay your existing debt with a new credit card, take a look at the best balance transfer credit cards.