Update by user Aug 19
In my opinion, Capital One Credit Cards is the equivalent of a sub-prime mortgage.No one gets rejected, they boast. That means people who pay on time are paying for those who do not pay at all.
Even worse, in my opinion, I question if a client pays the charges immediately NOT ALLOWING INTEREST TO BE ASSESSED then Capital One finds another way to make money since the annual fee is not enough to satisfy their greed. One way that is possible, in my opinion, is that Capital One might allow a fraudulent charge to be re-billed to an account and then take a KICK-BACK.
DO NOT DEAL WITH CAPITAL ONE. IT IS, IN MY OPINION, BASED ON MY EXPERIENCE WITH CAPITAL ONE, IT IS A SINISTER CORRUPT ENTITY AND PROBABLY HOOKED UP WITH A SIMILAR "GROUP" WHICH COULD BE ANY COMPANY WITH THE WORDS IN THEIR NAME THAT INCLUDES "CAPITAL GROUP".
Update by user Aug 19
Yes, Capital One ignores the logic of my comments and refuses to do an honest investigation. They must be on a feedback loop with the ctriminl merchant about whom I complained
Update by user Aug 18
After allowing the fraudulent charges to be removed from my credit card Capital One re-billed without giving me any notice or opportunity to prevent the charges. Once that happens they never reverse themselves because they have you in the trap they initially set up for you.
They advertise "we have your back". Indeed they do. They stab you in the back. After 6 months of disputing the charges they finally just kept referring me to another one of their ombudsmans.
Even though Capital One is an online only company they do not allow you submit things by email or online. Everything has to be done by land mail and printed hard copy. Very contradictory for an online only company. But that's why they make such a huge killing in their profits.
Very low overhead, revolving door low paid staff and then they never even answer your phone calls. Fraud is the name of their game and unethical huge profit is the goal.
Original review posted by user Aug 18
Capital One boasts it never rejects any applicant. That was the same bait used by subprime mortgages that resulted in the disastrous housing bubble that destroyed so many lives.
Capital One is a horrible, hideous scam that lures people into credit bubbles they cannot escape from and then they are hounded for payment.
The biggest scam that Capital One engages in is to allow fraudulent charges by merchants with whom they have an arrangement. Capital One is an online only "company" which is absurd. But that explains why it's hard to confirm if they belong to Pamoja Capital Group which is itself a criminal group of entities who help each other steal from trusting clients.
Fraud by merchants is removed from your card until the merchant fabricates fake documents and then Capital One will re-bill your card even after you've cancelled the card with zero balance. Then to avoid hassles you end up paying whatever their gangster buddies tell them they want and claim the documents they make up are real.
Capital One operates out of the U.S. but Canadians also get stuck with the online scam operation. Likely Capital One operates in other countries too.
Do not trust Capital One even if it uses the MasterCard brand.
Capital One is NOT PART OF THE LEGITIMATE MASTERCARD OPERATION.
They waste your time even more by telling you to appeal fraudulent charges to the Executive Response Committtee, then they tell you to complain to an Ombudsman who within 24 hrs rubber stamps the charges as legitimate and then they tell you to complain to another level of Ombudsman.
DO NOT TRUST CAPITAL ONE TO BE HONORABLE, TRUSTWORTHY OR SAFE WITH YOUR MONEY AND YOUR REPUTATION.
I lost $2-thousand dollars with these *** bags that I paid just so I could close out the account at zero balance.
I always kept my monthly balance at zero to make sure I never paid them any interest even though I was at 14.9% while the standard is 19.9%. On reflection, I realized their game was to tantalize a customer into overspending and then being stuck with unpaid bills.
DO NOT FALL INTO THE SAME TRAP AS THOSE WHO LOST EVERYTHING IN THE SUB-PRIME HOUSING BUBBLE.
Capital One uses the same *** tactics.
Product or Service Mentioned: Capital One Account.
Reason of review: Intentional Deceit.
Monetary Loss: $2000.
Preferred solution: Full refund.
Capital One Cons: Untrained staff all offshore.