CAPITAL ONE Bought Out HSBC, which used to be the company that financed BEST BUY's Credit Card. I had an Agreement with HSBC, I had bought over $9000.00 worth of kitchen appliances 3 years ago, I had a ZERO percent interest rate if I paid it off in 36 months or less, I paid it off in 12 months.
I just spent $1200.00 on the HSBC BEST BUY credit card in May of 2012, I returned a few things which were applied against the balance owed and counted as a payment, more like 3 payments (the amount applied towards the card, and minimum amount due).
CAPITAL ONE Bought out HSBC in late May or Early June of 2012, I had made the returns after this and nothing was said at BEST BUY, by the Customer Service Rep about this change in financing. I had moved from the address that was on my card when I bought the appliances, but since I took out a few different warranties with this charge in May I updated my address with BEST BUY, even had I NOT updated my account at the store, the corporation of BEST BUY KNEW MY NEW ADDRESS b/c I have received mail sent by them with MY NAME on it over the last year.
We get a tremendous amount of junk mail, so much so that we have to rent out the LARGEST P.O. Box the Post Office has just to accommodate the volume of mail, meaning magazines, and statements, mailings for new offers for everything and anything, free offers for junk, reminders, etc, etc… but oddly enough we ALSO Received a Credit Card Offer with a Zero Percent Interest Rate (it was printed on the front of the envelope) from CAPITAL ONE. Out of the clear blue we receive this offer, since the economy went to *** we have not received a ZERO PERCENT INTEREST RATE OFFER from any one, and we used to get several a week, for the last 10 years.
BUT This OFFER was from CAPITAL ONE, a company we have not done business with in years, and the offer comes Right on the Heels of them buying out HSBC, they must have gotten our mailing address from HSBC, or BEST BUY - either way, the got it b/c we have/had a card with them both.
Now, I do not receive a statement from BEST BUY/HSBC since I made the return in June - which counted as at least ONE PAYMENT. I ask at the Customer Help desk why this is so, they say it should have been sent, and we check my mailing address, it is the correct address. They tell me to go through my mail it may have been stuck inside a mailing or magazine by accident, but tell me nothing is owed as long as I pay the amount owed off by May 2013. No interest charged if paid in full by May 2013.
Then at the end of September we receive a call from Capital Ones' collection agency telling me we owe almost $6000.00 now, b/c we have not paid our bill. I am GOBSMACKED. Why would they be calling me, HSBC owns the card and I have never shrugged off a payment and always pay them early. I also tell him that the agreement with the card was ZERO interest if paid off in full by May 2013. He says Not True, read your agreement letter, like I carry that around - that is why I spoke with customer service at the time and they told me what I have written here, if it is paid off by May 2012 etc.... This guy plays deaf to everything I say or ask, and just keeps repeating his hateful Mantra, you did not pay your bill, it doesn't matter what the Cust. Svc. people at BEST BUY told you, you did not pay within 30 days so your new interest rate is 37%, not ZERO. WTF? I tell him I have not received one statement from HSBC, or CAPITAL ONE - EXCEPT for the Credit Card Offers they keep sending, ADDRESSED to me.
At this point the evil talking head on the phone tells me that all of my statements have been sent, and that is no excuse for not paying. I tell him again about the paying off within 1 year of purchase, etc…. At which paint I ask again, HOW is it that every single statement (he never told me how many were actually sent, though I asked) has never reached me.
He just repeats the same few monotone statements back at me. I ask him one last time, HOW could they all disappear, then ask him "WHERE WERE THEY SENT?"
At which he tells me, they were sent to Your HOUSE in Connecticut (we live in south central Virginia). I almost pass out with anger and frustration now. I tell him we had changed our address officially and legally more than 18 months ago. We have been living here for 18 months and ALL of our utilities, bank statements, credit cards, insurance, EVERYTHING with OUR Names on it Would Show THIS ADDRESS in VA. as Our CURRENT ADDRESS. Which is why You, Mr. Incredibly Rude and Intentionally Obtuse Voice for CAPITAL ONE, Corp. were able to send ME Offers For ZERO Rate Credit Cards in the Mail ADDRESSED DIRECTLY TO ME. Yet YOU/CAPITAL ONE Could Not Send My BEST BUY Statements To My Legal, and Official Address of Residence - the Same Address that is ON FILE with Everyone, to Include the Federal Government b/c we paid taxes to this state and mailed our Tax Return From Here as well.
It does not matter what I say to this Automaton, he does not budge and his Mantra does not falter. He then starts to threaten me, and becomes ever more abusive and threatening. I am beyond outraged.
He tells me that this is ALL My OWN Doing. He tells ME, I'M Responsible for the Statements' Going to MY Old Address. How is THAT even possible?!
This whole time, Capital One HAS MY CURRENT ADDRESS, BUT sends them INTENTIONALLY to my OLD Address so that they can change the TERMS of MY agreement with HSBC, BUT without Sending my a Statement With the NEW Changes, I CANNOT POSSIBLY KNOW WHAT THEY ARE. Yet, This TOOL is telling ME it is my own doing that the Interest Rate in Now 37% and $1000 to $1200.00 in total charges has turned into $6000.00 in just under 2-1/2 months and if I do not pay it in full at that exact moment it would double by November.
I just received my first statement in October, just a few weeks ago. I am so f'ing infuriated I do not want to open it, had I know it was in the huge stack of mail I picked up I would have sent it right back to them. I am going to call the BBB and every other watchdog organization out there about Capital Ones' illegal business practices and the thugs they employ to call unsuspecting consumers to threaten and intimidate into paying ridiculous sums of money, absurd amounts of money from outrageous interest rates that are illegally manipulated and inflated to make themselves fast money, money they hope to get through draconian methods of terrifying and bullying people, before the consumers can or do get legal assistance to bring these savage Big Banks back to reality.
Never, Ever get a store credit card. I knew that rule once, but how could I have known they would be bought out by a big bank like Capital One - who would in turn change the rules and regs of HSBC?
Monetary Loss: $12000.