Public Service Announcement: on Capital One

[carlton]

I thought this may be useful information for other forum members as most of us use credit cards for our domain-related business activities.

Capital One, with whom I have had a MasterCard for years, suddenly reneged on their 4.99% permanent, fixed-rate account (doubling the rate). This appears to have been initiated April, 2007 and to have affected a number of cardholders (so you may want to check your statement closely).

I've written the BBB and the NC Attorney General with formal complaints. The Capital One rep, incapable (and unwilling) to say anything except a scripted bottom line, was of no use and alluded to a term that allows Capital One to raise a permanent, fixed-rate. Permanent = existing perpetually, everlasting, without significant change. Fixed = to settle definitely. I saw a 60 Minutes piece on this about 6 months ago and hope that there may be some Federal level investigation occurring on credit card misrepresentations and exploitive practices.

 

[JuniperPark]

Capital One (and most others in the business) are scum.

A few years back, I got a "your are already approved", "guaranteed acceptance" card offer. Filled out the application -- DENIED. Had a long, frustrating discussion with an uneducated moron there about the meaning of the word "guaranteed" and "already approved". She basicly disclaimed knowledge of the term "false advertising" or any other English term.

Fast forward years later -- got a credit card from a bank later aquired by Capital One. Although I had the card, they sent me junk mail DAILY with credit card offers and preprinted checks - since my apt mailbox was unsecured (anyone could steal my mail) this made me an huge identity theft risk.

I called and insisted they take me OFF their their junk mail list and the reply was "sure, but we'll still have to send you special offers, notices, blah blah blah..." so in other words, NO, they wioll NOT stop sending junk mail, and they still do till this day.

 

[Seraphim]

Capital One sucks, they out sourced their whole customer service center to India, aside from the fact that thousands of Americans lost jobs, I can't understand anything their staff says. Chase just followed suit as well.

 

[Focus]

the assholes gave me a $300 credit card (lol) when I was 18, and because their customer service sucked so bad and they were so rude and unhelpful and decided to change my rate to a state max over one late payment (I had plenty of money and just was'nt paying attention) I basically told them to suck it and eventually it got charged off, well for 7 years I had a...get this...
$1700 charge-off from them for a $300 credit card and got threat after threat and lawyer phone calls and the whole 9 yards and I started answering the phone and speaking swahilli to them...(which really confuses people) so to make a long story short...it eventually fell off my credit after 7 years and to this day I refuse to do business with them...and probably have made ten times that amount of money from various typos of their multiple websites.

 

[carlton]

From the Capital One homepage ...

For people with excellent credit who want a great long-term rate they can count on ...

APRs will not increase for any reason for at least 3 years

This of course is their primary selling point. The so-called permanent, fixed rate was not permanent. So "3 years" is likely not 3 years using their logic.

I might add too that their customer service is set-up for limited, difficult access. Very much the huge corporate mentality. The customer service representative would not provide a direct line number for follow up on my issue. In essence allowing them to hide behind barriers that prevent accountability and effective communication. They also have no email (for account problems) or log-in trouble ticket system which would create a written record. Take note of that too.

 

[Focus]

yeah but their typos get good traffic so you have to factor that in... k:

 

[carlton]

yeah but their typos get good traffic so you have to factor that in... k:

LOL - In this case Focus, you are indeed the Robin Hood. Creative solution to a perplexing problem, .

A little more blasphemy from Capital One. I couldn't believe the hypocrisy in their promotional spill ...

Low APR credit card offers with 0% APR introductory rates are attractive to many people, but those attractive rates are only available for a limited time. After the cardholder has the plastic for an introductory period (often six to 12 months), the APR then jumps to a higher level. Those consumers who are tired of attractive intro APRs that vanish before they are finished paying off their credit card debt will appreciate the Capital One Platinum Prestige credit card.