On 10/21/08 I open a 0% interest for 1 year platinum credit card with Capitol One. I paid the minimum balance on the credit card until my October 2009 statement. On October 3rd I called the Capitol One customer service center and inquired when I needed to pay in order to avoid any finance charges and spoke with Sue. I was told that as long as I paid the bill in full before my due date on 10/28/09 I would have no finance charges. I paid my bill on 10/27/09 for the full amount over $4,000.00.
When I received my November statement I had a finance charge of $31.79. I called and spoke with Madison. I explained my situation which was 1 year with 0% interest and Capitol One charging me interest prior to the year being up. She informed me that she would request a credit but I would still need to pay the bill because the credit would not be applied to my credit card until the next billing statement. I asked to speak with manager because I wanted to avoid making another payment for what I believed to be their error. I was transferred to Pinkie who proceeded to tell me that she would issue the credit but I was charged interest as of 10/1/09 even though the advertisement stated I wouldn't be charged interest for 1 year. Since I opened my account on 10/21/09 and they were charging me interest prior to that date I felt it was false advertising.
Pinkie placed me on hold and when it was picked up next I was speaking to Pauline an account manager. I was not told I was being transferred. I explained the situation again to Pauline who was extremely rude, informed me that they are not allowed to issue credits for finance charges and she didn't know what I was talking about. When I told her about the two previous individuals I spoke with, Madison and Pinkie, she told me she didn't know them but I was misinformed. When I told her about opening my account and being charged finance charges prior to my 1 year date she informed me that in order to avoid finance charges I had to pay two consecutive bills in full which I had not done therefore I was charged and there was nothing she could do for me.
I went back and read the disclosure for the 0% interest accounts and no where is it clearly stated that I must make two consecutive payments in full to avoid finance charges being charged prior to my 1 year. I believe this is shady business practices and I would discourage anyone from doing business with Capitol One.
I have closed my account. I actually asked Pauline to do so in the same conversation where she informed me she didn't know those employees who transferred me and I wouldn't be receiving a credit because I didn't do what I was informed of on the back of my disclosure notice. Hopefully I will not have any additional problems with this company.
I discourage any and every one from doing business with this company. They have very poor customer service relations and they have questionable business practices. It would seem they are notorious for unclear business practices and prey on individuals who are trying to rebuild their credit or are just starting out. There are better, more reputable companies out there. Providian and Citibank is just an example of a companies working for their customer not against them.