Confusion about Cap1 grace period/billing cycle/ interest. Please help!?

Question

I called cap 1 yesterday. I just opened my new card on July16th. I wanted to know why i didnt recieve an invoice yet. She said I don't have to pay until september 16th. BUT when i asked her when interest would start accruing on my charges (my first purchase was on july 20th) she said 25 days from july 20th. Please explain to me if i need to plan on paying in full each month i would need to monitor each and every purchase to make sure i paid them each off within 25 days to avoid interest charges. I'm so confused! please help

Yes, I am establishing new credit.
cap1 is the only card i know that does not report limits they only report your highest usage. other cards report limits so it should be good for your score. keep usage under 30% and pay every montha and you will increase your score.

my problem is still not answered. please help.

Answer 1

Are you trying to establish credit? Most people get thier first card from Capital One, and they have such cute cards to chose from.

I had capital one for 3 years and only incurred interest 1 time. When I went to get a car loan my score had not moved 10 points from 3 years prior. They showed me my credit report it said available credit $500 balance 0. I knew I had at least $300 on it at that time. A few years later someone explained by paying your card in full each month, the credit companies never see you have been a responsible credit user. It looks more to them like you have the card and dont use it. So if you are trying to build your credit, you have to let balances carry over and pay the interest on them. Even if you have $100 you dont pay off, the interest will only be a few bucks. I know I hated paying a penny in interest, but I had a Household card with $5000 limit I didnt use for almost 3 years. Household sent a letter saying negative info reported on me has resulted in a decrease from $5000 to $350. My ficos are hovering from 720-750 and negative info about me is just not possible.

Answer 2

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Answer 3

I have capital 1 and I keep track of my account online, and can make payments right there. You should get a statement every month, sounds like they skipped August?? Thats strange.