To hell with you, Capital One! I have escaped from your clutches!

The BBQ Pit
1

About three years ago, due to a little bump in our credit road, the only credit card I could qualify for was a Capital One Kmart card. (Yes, I know, pathetic.) It had a small limit, $500, of which $400 could be used anywhere and $500 could be used at Kmart.

I was careful with it, always paying more than the minimum payment and even frequently paying the entire balance. Every six months or so I would call and get my limit increased by $100 so late last year I had a $800/700 limit.

Then, every time I called to increase it again, and I was always denied. I finally got curious and punched the buttons to talk to a live person, and come to find out that due to Kmart’s financial difficulties, they were no longer increasing limits. Okay, sez I, can I switch to a regular Capital One card? Write us a letter, I was told.

I duly wrote Capital One a letter, sure that with my good credit history with this card I would have no problem switching the card over. Alas, I got a letter in January that they had stopped doing this on August 31, and I would have to apply all over again.

Hmmm. Well, I have a good history with my bank, so let me give them a try first. I applied on line, had to supply them with some additional information, and I was told I was approved.

So last night, I get both my new credit card from my bank (lower interest rate, higher limit :D) and a letter from Capital One.

Due to increasing costs, Capital One will now be charging me a membership fee, which can be conveniently charged at $4 a month, or I can ask for an annual charge.

$48 to use a flipping credit card? After my good payment history? Aha, that’s it! They weren’t making money off me with the interest!

So, I immediately cut up my Capital One card, closed the account, and made sure I sent off the “I refuse to accept these additional charges” note at the bottom of the letter.

How stupid and desperate do they think I am?

Never fear…I shall have my Capital One balance paid off in full before I break in my new card. With the lower interest rate and higher credit limit. :smiley:

2

But…but…it’s a CapitalOne No Hassle card! They don’t hassle you. Doesn’t that make it worth it?

3

Just don’t let Cinderella or those damn mermaids steal it. I hear they’ll run around charging up a fortune.

Although I can’t figure out why mermaids need shoes…
:wink:

4

I just paid my cap 1 card off and closed the acct a few months back. For the next few months they kept sending statements (look at that nice credit available since I don’t owe any money on it), and didn’t close the acct until I literally harrassed them.

5

I had to get the BBB involved before they finally fixed their screw-up with me. It took months of haggling with them, their supervisors and (and here’s a magic word) theor managers. I found that if you want to get something done, bypass the supervisor and go straight to the mananger! It was a happy day when I cut up that card!

6

What’s not in YOUR wallet?

7

Those damn Vikings and their catapults, for one thing.

8

After years of faithful Capitol One patronage, they decided to bite the hand that fed them. You see they do not like folks that do not carry a balance. This despite the fact that they take a little off the top of every transaction from the merchant. For the past year or so we would pay off the balance ON TIME. But they came up with creative ways of delaying the processing of our ONLINE payment. Despite the fact that their computers recieved our transaction, they would say it wasn’t processed until after the deadline. Every month Mrs. Zep would get on the phone and convince them of their error (which they obviously denied, but would remove the finance charge out of good will). Finally, Mrs. Zep and I decided to try a little experiment. A full week (or 5 biz days) before payment was due, we transferred the funds electronically. Our bank showed that the money had been transferred and GET THIS, when we called for our credit card balance, it showed that the account had been credited. This all occurred before the due date. Then the Mrs. called a live agent, and she informed my wife that we would be charged a late fee because they hadn’t recieved payment. When confronted with the facts, including asking the agent to call the automated number to confirm that they had indeed recieved the payment, the agent was, well, dumbfounded. She conferred with the demi-god of customer service, the Supervisor. They had no explaination. We would not get the finanace charge…again.

Grrr…

We now have a new credit card through our alumni association :rolleyes: (wife’s idea).

Pb

9

According to the letter, it says any transactions received after 2/24 will be considered an acceptance of the terms.

I’m waiting to see if payments received after 2/24 are considered “transactions.” I better note on the calendar that I cancelled their sorry ass on 2/9.

10

Document, document, document. So many of these companies get money by relying upon thier customer’s laziness or greed, don’t let yourself be another one. (Not that I think you are going to allow yourself to be victimized, just emmphasizing here.)

Another good source for sane credit cards is a local credit union.

11

Oh my god! My husband thought I was insane when I said capital one was trying to fuck us over. I recently paid off my rather huge capital one balance and I thought “ahhhhhh,I’m free and clear” and yet, we get another statement that said there was a late fee. I knew this could not be, because I sent the check early because I was excited about paying it off! So they agreed to cancle the $35 fee, but then tacked on another $35 fee for something. So I agreed to pay that in full…and they said it was late again!
In the entire time I had that goddamned card, I never, ever sent a payment in late. But now two in a row? So I pay the fee thinking “Oh well, it’ll be over after this…”

And then we get hit with another fee! So I paid that because I’m stupid, and the next statement we get says 35 as been credited to our account.

sigh

After reading all these stories, I think I will cancel the card completely. And I’m happy that I’m vindicated (obviusly an idiot for paying 3 times, but vindicated.)

12

My Capital One saga.

They’re a pain in the ass even if you DON’T do business with them.

(Can you believe they’re still sending me these things? I just got another one the other day.)

13

I think most of those Capital One commercials are bad, but I actually really like this one. Something about a Viking sticking the end of a catapult under your chair as you sit having lunch just seems, well, Monty Pythonesque to me.

14

Capitol One was charging me a monthly fee for the privelege of owning their slab of plastic. When I paid my balance I called in by phone to say I was canceling my card. They said that would be fine.

Next month I got another bill, with another monthly charge. I called Capitol One and I was told that I hadn’t canceled. “We ask for that information in writing.” Fine, I’ll write a letter.

I sent the letter, and the following month I was sent another bill with another monthly charge. I called again. “We always confirm written cancellations by phone, sir,” they told me. I explained through gritted teeth that I called first and was asked to follow up with a letter and I’d be damned if I was going to run this merry-go-round any longer, my card was canceled, I’ve jumped your hurdles, goodbye.

I won’t do business with them again, that’s certain.

15

I was like you…after my divorce, a fee-based capital 1 with a $500 limit was all I could get.

I used it carefully, paid off my bills, and now my credit score is in much better shape. However, I was constantly struggling with having late fees or over-limit fees show up on my bill. Even though I’d send the payment in early, they wouldn’t process it in time, and I’d get slapped with a late fee, and then an over-limit fee because sometimes the late fee would take me over my credit limit. I was glad that Capital 1 offered me a chance to rebuild my credit, but did not like the way they were constantly trying to screw me over on the fees.

After a while, I was able to apply with other credit cards and receive much better offers. Lower aprs, higher limits, no fees.

So I paid off the capital 1 card and tried to cancel. My God. I had to speak to three managers who each tried to talk me out of cancelling. I’ve never had so much trouble shutting down an account in all my life.

16

Heh cap one are pikers compaqred to a clip joint called"first premier bank" itsa credit cardfor the lowest common denominator

17

You guys are scaring me.

18

I, too, got the constant Capitol One offers in the mail. I finally relented shortly before a trip to Ireland (just in case…) Sure enough, I got stuck in Ireland for four extra days when the country’s major airline went on strike. I used the card. Paid it off. And I haven’t heard from them since.

However, there was one strange thing that happened. The month after I had made the final payment, I got one more statement with something like $3.50 from Blockbuster. I realized that this was from a late fee from movies rented by my stupid friend at the Blockbuster across town I don’t use. I just paid it and it was done.

But after reading all this, I am suspicious. Can they do this? I didn’t authorize the transaction… I didn’t sign anything… Was this a final attempt by Capitol One in cahoots with Blockbuster to keep me in the red?

I must also express my disdain for their practice of targeting young college students with little income and many wants, like myself. I get an average of one offer a week. I once got three different offers in one day.

19

All your horror stories make me proud that I have not owned a credit card in almost ten years. Yes, it is possible to live in 21[sup]st[/sup] century America without one.

20

Rules to remember when it comes to credit cards:

  • If they advertise on television, they’re paying for those ads with the interest and fees paid by their customer.
  • If they leave advertisements or worse, applications, out in random public places, they’re appealing to a lowest common denominator of potential customers, and their service and interest rates will reflect that.
  • If the card is branded “Whatsamatta University Alumni Visa, by Bob’s Bank” you’re likely to find that a regular Bob’s Bank card has more preferential rates and fees
  • Gold and platinum don’t always mean much
  • Document, document, document.

A better rule (not mine):

  • If you can’t afford it, don’t buy it. Credit card debt is a swirling black hole that saps your ability to accumulate wealth.