Q:

What is Capital One's payment per month amount?

A:

Quick Answer

Capital One is a financial institution that offers multiple types of credit cards, each with varying guidelines in regard to payment, according to the company website. There is not a standard minimum payment amount each month, as the balance and interest rate may vary, and this directly affects the payment.

Continue Reading

Full Answer

Capital One applies a minimum payment to lower rate balances before higher rate balances, states the company website. The company first applies payment amounts that exceed the minimum payment to higher rate balances and then to lower rate balances. If a customer pays the entire balance, certain transactions, interest and fees can accrue before application of the payment, resulting in a balance. This occurs because interest continues to accrue on the balance between the last day of the statement and the date on which the institution receives payment.

Learn more about Credit & Lending

Related Questions

Explore