Chovy's Blog

Hi,

I am a lawyer in San Francisco with an extensive consumer practice and I am interested in speaking with you about your experiences with Capital One. As you know, their practices are deplorable. I would be most appreciative if you would call me, collect, at 415.288.4545. Thanks very much.

Jacqui Mottek

I just got my latest Capital One Visa statement and noticed a $2.61 finance charge. I checked the previous statement and noticed they had added a $5.80 finance charge to that bill. I just hadn’t noticed before because the font is so friggin’ small. Like you, I pay off every bill in full every month, so there should be no finance charges. Upon reading the fine print on the back of the statement carefully, I found that they have started adding a finance charge to EVERY transaction that is not subject to a 25-day grace period. They don’t describe what is or is not subject to the grace period, but it seems to be that almost everything I charge is NOT subject to the grace period because the finance charge is calculated from a total that is almost the value of the total bill. They have lost a very good customer in me, and I’m spreading the word.

I had same experience that Michele had. Today I got my C1 statement and found out that I too got $2.73 finance charge.

After spending almost 1 hr talking with the C1 customer service, I realized that C1 does not seem to have any grace period for you bill payment. Even if you in full pay before the due date, you are still charged the finance charge.

This is freaking unbelievable.

First time I am realizing this thing. I think I will cancel my CC with C1. They suck.

All I have to say is this: I was so mad with capital one I researched the name capitalonesucks.com. Guess who owns it? Capital One Inc. Nuff Said.

Why do you not get sued?

I mean, how is what you are doing different from, say, buying the capitalonesucks.com domain and posting your experiences there?

JES

I also had credit cards with Capital One and the same thing happened to me. One card had 11.9% fixed interest rate and the other had a 10.9% fixed interest rate and both had an annual fee. My credit scores have been on the uprise at about 750. I was carrying about a $300 balance on the card with 10.9% interest rate and no balance on the other. I had been paying both on time as well as on my 2 other credit cards with balances and paying well above the minimum. I called Capital One last week to see if I could get them to waive the annual fees on both of these cards as I have been a long-time customer since 2000 and 2001 respectively. While I was on the phone with the representative, I found out that they had raised the interest rate on the 10.9% interest card to 19.9%! She said it had just been raised the day before and that my notice would come in the mail shortly. I was in shock. I asked her to repeat herself and to tell me for what reason my interest rate was raised since I have very good credit scores and had been paying on time. She said it was through no fault of my own, but that the company had decided to raise rates on some accounts. Because she could tell I was highly upset, she offered to combine the credit limits on my 2 Capital One accounts so that I could keep the older card with the 11.9% fixed rate and cancel the other. I decided to go with that because the older card is the credit card I’ve had the longest compared to any of my other cards, and I did want to keep my good payment history. I’m also getting the annual fee waived on that card. However, I’m still not pleased because it really irks me that they would raise my interest rate on the other card like that in spite of the fact that that I have great credit and I’ve been a good customer to them these past years. Perhaps they will decide tomorrow to raise the interest rate on the other card as well. The whole thing leaves a bad taste in my mouth. I consider Capital One to be rip-off artists and no better than common thieves. My plan in the future is to use the remaining card I have with them as little as possibe. If I ever charge something to it, I’ll pay it off right away so that they’ll never make any money from my pockets ever again.

I have four Capital One credit cards with all balances paid off. Two of them, I received the same ol 2+ dollar charge. I paid them both with $5 to make sure no more finance charges showed up. Two of them now show 0 balance and the other two show a credit (overpaid). Let me recommend that when you close credit card accounts, do it by CERTIFIED mail with return receipt. Put the certified mail number at the top of your letter. Copy your lawyer if you have one and show the CC at the bottom of your letter. Also state in your letter that this serves to close the account, and is their notice to cease and desist. You do not wish to receive any more bills or correspondence from them and any false information reported to the credit reporting agencies will be turned over to your attorney and prosecuted in accordance with Public Law 95-109, Section 805-C, The Fair Debt Collection Practices Act. This has always worked for me. Be prepared to carry through with your threat if you have to but I’ve found it always ends there.

horrible! charged me finance for 16%!!! on a 1.99% balance transfer offer for over 3 months with no resolution. I am still waiting for a resolution. Their online system sucks but I just noticed they put a new one up, so hopefully it is better. Man, am i disappointed.

As a customer service rep for capital one, you were probably asked to write in to get your card reactivated. If you had written to the Salt Lake City address they would have sent you a new card. Don’t think I defend C1 much, even I know their policies sound confusing.

As a representative for Capital One that hears all the complaints about everything everyone has mentioned I defenitely can understand all the frustration. I think what’s most important for all of you to unerstand is that Capital Ones policies are no different from any other credit card company. Trust me, im not saying that because I work for them but bc I try to keep myself abreast on what’s going on in the industry by reading various news publications. it really boils down to customers just have to read very carefully their terms and disclosures even if its in small writing because that’s not a good excuse. Read your statement even if you know you haven’t charged anything because important messages are there sometimes. Read all mail sent to you, its the only way the company communicates with customers. its your money and credit so you should try to educate yourself as much as possible. No situation on here doesn’t seem like it couldve been fixed, for the most part it just seems like most of you all got someone who just wasn’t knowledgeable enough. Its sad to say but some dumb people answer the phones at Capital One and in my position we have to clean up after them. Every company in the world has a dissatisfied customer and Capital One is no different. There are also disgruntled employees!

Capital One is the worse credit card company in the world.

I had two cards with them a few years back. I closed one and had paid it off. Then last year they sent me a bill for a $29 annual fee and said I have available credit and the card is open stupidly I paid it then called them cause I all of the sudden had no available credit and the card was closed again. Some awful “Customer Service Rep” told me that I just shouldnt have paid it and they would not give me my money back. This year once again I got a bill for an annual fee on the card that has been closed for three years. I did what they said last year and didnt pay it then I get a letter with another bill which is now 58.50 saying I have to pay it and the late fee. I called customer service and they tell me the account is not closed and I have to pay the fee. I had to go back in forth with some guy who would put me on hold forever and told him I refuse to pay it they better take the charges off and it is a closed account. He finally after half an hour says oh yeah it is closed and the charges have been takin off. I am sure he knew the card has been closed for years the whole time and they are looking for the stupid sap that I was last year who is going to pay their annual fee on a closed card.

I HATE THAT COMPANY THEY SHOULD BE SUED FOR TAKING PEOPLES MONEY AND SCAMMING EVERYONE.

CALL JEAN T.
@ 866-536-7392

& BITCH HER OUT

I had a Capital One Visa account for years. In recent months there was fraudulent activity which they resolved promptly and issued another card. Two months later there was fraud on the new card. I finally just closed the account after having to go through the bullshit of fraud reporting AGAIN. There must be someone at Capital One selling card holder info. I can see this happening once, but not twice. It has never happened with my Mastercard with company or my Amex. The truly shitty thing about Capital One is that I wanted to donate my remaining Rewards points. Apparently, they don’t transfer them to other institutions, not even for charity.

John Auto dealer Florida

I sold a car to a customer that used a capitalone blank check as payment. I transfered the title in good faith and Cap 1 refused payment. They attempted
to get from my customer additional information after I submitted this “blank check” sticking my small business in the middle of their dispute leaving me without a dime for payment. So now I am out $28,000.00 + while I attempt to collect from my customer. CAPITALONE DOES BAD BUSINESS PERIOD

My caomplaint is a bit different. Their representatives actually LIE. I have been trying to get my account summary for 2007 for two months. Within the last 10 days I have been told by 5 representatives, supervisors, managers that it was being faxed to me. One told me it was actually in his hands. It is April 15th, my accountant has files for my extension and I still do not have my 2007 payments. It must be some training they get. When in doubt LIE.

Capital One seriously (and intentionally) has the poorest “customer service” in the business. They are set up to put the burden on the customer to do anything. They embody the mentality that if they make things too difficult for us, that we will give up and put up with their everything. Well, I encourage all of you to not give up… after 4 phone calls tonight and a couple of hours on hold and patiently requesting over and over again to cancel my account… My people I tell you that I will try again tomorrow and I will prevail =)

I got my Capital One card about a year ago. I was lured in by the 0% interest on purchases for 9 months. Everything was going good. I made one late payment, by 2 days, about 4 months ago. OK, I get it, I was late, I was alright with that. 39.00$ lesson learned. Well, I charged some items today on my card, thinking about the rewards I incur with purchases. Then, I went online to make the payments, and I noticed they charged me another late fee for lasts months payment. It clearly says on the statement that they received the payment on the day it was due, but they posted the payment 2 days later. Ok, fine. I called them, and since I know to always hit 0, you can get a representative on the phone, seeing as how their system is set up to not let you talk to anyone on the phone. I asked about the late fee, and the rep said that the payment was late, and that it says on the statement, that you need to allow at least 7 days for payments. I then told her that it was an online payment, there should be NO human interaction involved. Then, I asked her the time the transaction went through on the due date, and she said 4:10 pm. I asked her then what the cut off time is. She said 3:00 pm. So, for being 1 hour, 10 minutes late, I get dinged 39$. Even though it doesnt say ANYWHERE you need to have it payed before 3pm.

So, if they want the payment earlier than requested on the due date, why not change the due date? Also, their system for online payments is crap. I cannot set up automatic payments like every other institution out there. I have to make the payments online every time.

I will be canceling this card, and opening a new credit card with my credit union. I should have read all these sites before I accepted Capital One’s card. How can you not beat the 0 interest for 9 months??? I was a sucker.

Last week a Capital One rep offered me “an enhanced upgrade for being such a valued customer”. I left on vacation that next day, and upon my return found that my Platinum Card was “upgraded” to a Business Card.

What does that mean? It means that if I had had an accident in my rental car, i would have been liable because the Business Card does NOT cover personal use rentals!! When I called Capital One, the service sucked! Just a week ago they recorded me accepting a enhanced points product change in conjunction with the representative stating that “existing terms will be the same”. I’ll call again tomorrow, if they are still rude and uncooperative the following call will be to the Washington State Attorney Generals office.

After reading the above posings, I am thinking the 42,000 points I’ve earned will cost me more to use than if I just went online and purchased a discounted ticket the next time I travel.

Just cancelled my capital one card. I had no problem for the first 9 months. I always check my online balances every few days I am very careful about payments, charges, etc…I had been over 50 cents twice and immediately upon finding it made a payment to take me back down below my limit. No problem. 3 months ago I made a payment and the next day used the card at lunch. I looked a few days later and notice I was charge $29.00 for over the limit fees. I called customer service and worked my way through their broken english to find out that the py didn’t post until 2:00 pm and I had used the card at 1:00 pm and was over the limit by $1.50 for an hour!!!

Then last month I made my py plus and looked and was .49 cents over my limit with finance charges and py plan and charged $39.00!! So, this month I was laid off took advantage of my py plan they made min. py and I paid down to what I KNEW would keep me under my limit NOPE after py plan and finance charges I was .83 cents over my limit and another $39.00 which I DON’T have because I am laid off played the customer service broken english game again and cussed them out because they refuse to take the over limit fee off even though I was on the phone trying to rectify this last month w/ being laid off and maintain my good credit.

And I disagree with the customer service Rep who posted capital one is like every other credit card NONE of my other credit cards or banks do this to me ever. I am DONE with Capital One….I actually went Chase because I have my car py with them now bank, and credit card.

Capital ONe NEVER again EVER.

HERE’S THE EMAIL I SENT TO THE CHAIRMAN OF THE BOARD / CEO AT CAPITAL ONE THIS MORNING…I HATE THEM!!! AND I’M JUST STARTING MY CAMPAIGN TO EXPOSE THEM!

Mr. Fairbanks:

I am extremely upset with Capital One right now. In fact, to the point that I cannot with any lack of emotion discuss why I am so upset.

Suffice it to say that over the last eight years I have been an excellent customer of Capital One…or so your “sign up for more outrageous debt” letter has said.

My husband and I are currently having a very difficult time because of the increase in gasoline coupled with the loss of my job as an Account Executive with a subprime mortgage lender.

We are not late on our Capital One accounts and have not been past due in over seven years. Your system has allowed our cards to go over their limit.

Your phone centers located in India, Bangladesh, Phillipines and everywhere but where they should be located are harassing me. I am demanding that you stop them from calling me immediately. Don’t you even care how embarrassing and demeaning it is to an AMERICAN CITIZEN to receive “collections” calls from a Foreign national who has no real understanding of the American public? Or are you so greedy and bottom line hungry that you would “spit” in the very face of the people you are feeding on by demeaning them with people who change their names to English given names while at work, and speak in heavy accents with broken English just to make a few more dollars an hour for yourself?

I am protected by the Fair Trade Act / Fair Credit Reporting as administrated by the Federal Trade Commission.

Believe me when I tell you I have had enough…I am on the verge of contacting the Federal Trade Commission, an attorney, obtaining a website to expose Capital One, send letters to newspapers like the Wall Street Journal, call my state’s Banking and Finance, and anything else I can think of.

Please ask you call centers to stop calling one of your “excellent or so you say” customers.

You will be hearing from me again.

Capital One Platinum Premier

To Whom It May Concern;

When I applied for this PLATINUM PREMIUM MC last Fall, THE ONLY reason I did so was because you offered a ZERO% ‘O%’BALANCE TRANSFER with a one time transfer fee. Any purchases made subsequent to the balance transfer would be 7.90% for the life of the card. I was told that it is very hard to qualify for this card and it was one of the best balance transfer cards as reccomended by Consumer Reports.

YOU ARE CHARGING ME 7.90% INTEREST ON THE AMOUNT OF MY INITIAL BALANCE TRANSFER WHICH IS IN CONFLICT WITH THE AGREMENT THAT YOU OFFERED. ACCORDING TO YOUR OFFER, I SHOULD BE PAYING ZERO% ON THIS AMOUNT AS I HAVE NOT MADE ANY PURCHASES!!!

Furthermore, after applying for the card, and the subsequent approval, my FICO score lowered over 50 points from my cherished 782 because Capital One only gave me a $15,500 limit – the amount of the balance transfer was just over $12,000, thus automatically pushing me over 50% of an allowable credit line, in turn ruining my FICO score.

Hey, shame on me for taking a chance with a credit card and NOT knowing what the limit would be, but I will be damned if I am going to pay any interest on the amounts that were initially transferred when I applied for this card!! No way! Especially now that Capital One was part of the reason my FICO is now barely mediocre!

Please reverse the 7.90% finance charge circled on the attached copy of my current statement dated 1/27/09, refrain from any further finance charges based on the original balance transfer, and live up to the deal that we agreed to in the first place!

Highly frustrated but still respectful,

Not happy with Capitao One. My wife closed an account with 167,000 miles and they did not disclose this to her. When we called to get the account reinstated we got bounced from one department to another and were told tonight that it will take 14 days for them to make a decision to reinstate the account and another 10 days to receive a letter with their decision. If they do not do the right thing we will pursue it until they do. Hopefully they will do the riht thing.

Check out my new blog for the latest scam by Capital One.