Capital One should be avoided at all costs.

I had been a customer in good standing for years with Capital One and enjoyed a low rate on my cards. 2 months ago they sent me a rate change in the mail wanting to raise my raise to over 17%. I called cancelled the cards froze the rate at my low rate and continued to pay them off. I was the victim of theft with my checking account which I made my payments so my bank put a Hold on the account. Well an automatic payment went through to my Cap 1 card but was returned because of the hold and Cap 1 raised my interest to a default rate of 23.3 %. Even though I had never missed a payment and kept the account in good standing they raised the rate. I even called and explained what happen and offered to fax copies of the banks affidavits and police report and they still refuse to do anything to assist me. They want me to wait 90 days before they will consider a rate change when I had never been late before. Scoundrels at best is how I would describe them, what’s worse is that these criminals took T.A.R.P funds from the American people then turned right around and started screwing them on their interest rates. The new consumer credit protection legislation won’t help either as it doesn’t go into effect until next year. Congress likes to pretend they did the American people a favor by passing it but the fact is they wanted to give their campaign contributors enough time to nail customers with fees and interest hikes before the legislation would take effect that’s why it doesn’t take effect for 9 months. Its practices like this that gives the free market a bad name. I am going to hold off getting another credit card until after the legislation takes effect. You can be sure it won’t be with Capital One too.

Sincerely,

Another Cap 1 victim

Comments (5)

1. Written by tired of getting ripped off!, on 21-06-2009 15:02 Capital One raised my rates on the 2 cards that I had with them without notifying me so i am just going to pay the minimun required until March of 2010 then I qualify to file bankruptcy again so that is what they will get in return from me for doing this. If they had left me alone they would have gotten their money but being they were butt heads they will not be getting their money back. In my opinion they deserve to get screwed. Report

2. Written by Connie, on 12-06-2009 22:46 Capital one Bank is the only bank I know of that does not post cash on the spot. I have another bank account with my credit union and when I deposit cash at the credit union it is available right away...and any pending charges will be covered if I make a cash deposit to cover them if I make a mistake in my account. Well not Capital one! I had 7 dollars in purchases on a Sunday and I put a deposit of 20 bucks in on monday to make sure I had enough in the account. well I check it Tuesday and I had a bal. of $ 22.17. Then Wednesday gets here and I have two NSF charges for $35 a piece because they put the pending charges totaling $4.00 in first....then the $20 cash. I was so furious. I called the bank right away and they said someone will call me the next morning. I waited till 9;30 am and I called them Thursday. The lady WAS RUDE! She said that the charges went through on Monday which was a lie....because our deposit was put in Mon. afternoon and I was still in the positive on Tuesday! The date next to the transactions was for Monday when I checked online so it made it look like my fault. I finally got her to *** two NSF fees but then the other purchase for $2.14 went through and bounched before I talked to her so she said sense I waited till thurs. she could only *** 2 of them. The way they print their stuff online is so screwy! Also they do not credit payroll checks till the next business day at midnight. i put in my payroll on a Fri. and it wasnt available till Tues. Morning. I never heard of such a thing in my life. My credit union posts payroll checks right away with no wait. I will never recommend capital one to anyone! Report

3. Written by Connie, on 12-06-2009 22:46 Capital one Bank is the only bank I know of that does not post cash on the spot. I have another bank account with my credit union and when I deposit cash at the credit union it is available right away...and any pending charges will be covered if I make a cash deposit to cover them if I make a mistake in my account. Well not Capital one! I had 7 dollars in purchases on a Sunday and I put a deposit of 20 bucks in on monday to make sure I had enough in the account. well I check it Tuesday and I had a bal. of $ 22.17. Then Wednesday gets here and I have two NSF charges for $35 a piece because they put the pending charges totaling $4.00 in first....then the $20 cash. I was so furious. I called the bank right away and they said someone will call me the next morning. I waited till 9;30 am and I called them Thursday. The lady WAS RUDE! She said that the charges went through on Monday which was a lie....because our deposit was put in Mon. afternoon and I was still in the positive on Tuesday! The date next to the transactions was for Monday when I checked online so it made it look like my fault. I finally got her to *** two NSF fees but then the other purchase for $2.14 went through and bounched before I talked to her so she said sense I waited till thurs. she could only *** 2 of them. The way they print their stuff online is so screwy! Also they do not credit payroll checks till the next business day at midnight. i put in my payroll on a Fri. and it wasnt available till Tues. Morning. I never heard of such a thing in my life. My credit union posts payroll checks right away with no wait. I will never recommend capital one to anyone! Report

4. Written by Connie, on 12-06-2009 22:46 Capital one Bank is the only bank I know of that does not post cash on the spot. I have another bank account with my credit union and when I deposit cash at the credit union it is available right away...and any pending charges will be covered if I make a cash deposit to cover them if I make a mistake in my account. Well not Capital one! I had 7 dollars in purchases on a Sunday and I put a deposit of 20 bucks in on monday to make sure I had enough in the account. well I check it Tuesday and I had a bal. of $ 22.17. Then Wednesday gets here and I have two NSF charges for $35 a piece because they put the pending charges totaling $4.00 in first....then the $20 cash. I was so furious. I called the bank right away and they said someone will call me the next morning. I waited till 9;30 am and I called them Thursday. The lady WAS RUDE! She said that the charges went through on Monday which was a lie....because our deposit was put in Mon. afternoon and I was still in the positive on Tuesday! The date next to the transactions was for Monday when I checked online so it made it look like my fault. I finally got her to *** two NSF fees but then the other purchase for $2.14 went through and bounched before I talked to her so she said sense I waited till thurs. she could only *** 2 of them. The way they print their stuff online is so screwy! Also they do not credit payroll checks till the next business day at midnight. i put in my payroll on a Fri. and it wasnt available till Tues. Morning. I never heard of such a thing in my life. My credit union posts payroll checks right away with no wait. I will never recommend capital one to anyone! Report

5. Written by Connie, on 12-06-2009 22:46 Capital one Bank is the only bank I know of that does not post cash on the spot. I have another bank account with my credit union and when I deposit cash at the credit union it is available right away...and any pending charges will be covered if I make a cash deposit to cover them if I make a mistake in my account. Well not Capital one! I had 7 dollars in purchases on a Sunday and I put a deposit of 20 bucks in on monday to make sure I had enough in the account. well I check it Tuesday and I had a bal. of $ 22.17. Then Wednesday gets here and I have two NSF charges for $35 a piece because they put the pending charges totaling $4.00 in first....then the $20 cash. I was so furious. I called the bank right away and they said someone will call me the next morning. I waited till 9;30 am and I called them Thursday. The lady WAS RUDE! She said that the charges went through on Monday which was a lie....because our deposit was put in Mon. afternoon and I was still in the positive on Tuesday! The date next to the transactions was for Monday when I checked online so it made it look like my fault. I finally got her to *** two NSF fees but then the other purchase for $2.14 went through and bounched before I talked to her so she said sense I waited till thurs. she could only *** 2 of them. The way they print their stuff online is so screwy! Also they do not credit payroll checks till the next business day at midnight. i put in my payroll on a Fri. and it wasnt available till Tues. Morning. I never heard of such a thing in my life. My credit union posts payroll checks right away with no wait. I will never recomment capital one to anyone! Report

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