Capital One Bank
http://www.capitalone.com
Richmond Virginia 23285
U.S.A.
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- Phone: 804-9671120
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- Category: Banks
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Capital One Bank HUGE BANK SCAM RIGHT UNDER YOUR NOSES:CAPITAL ONE AND OTHERS consumer fraud ripoff Richmond Virginia
1Author
1Consumer
1Employee/Owner
HUGE BANK SCAM RIGHT UNDER YOUR NOSES CAPITAL ONE AND OTHERS
The fraud I'm talking about is banks such as Capital One Bank, that mass mail tens of thousands of pre approved credit card offers and aggressively try to get consumers to accept and use the cards by making them think that they're "we take the risk" unsecured loans in which the consumers are led to believe they can't get into legal trouble.
These banks never warn of legal liability in the pre approved credit card contracts, bank statements, advertising or over the phone. Then after many consumers default, due to ill health, loss of job etc. these banks select consumers to pursue with ruthless lawyers involving confiscations of their property, bank savings etc. This is clearly consumer fraud and is practiced by many major banks in the U.S.
One example is Capital One Bank, headquartered in Richmond, Virginia, which has sent me over 100 pre approved credit card packets in the last 5 years. Not a single one of these packets warns a consumer that they might get sued. Rather, the contract, bank statement and advertising try to make it sound like the worst that can happen is getting a "bad credit rating" and yet Capital One Bank will hire ruthless and often dishonest lawyers if I or any other consumer defaults on our Capital One Bank credit card.
Right Now, I’m being sued by their law Firm; Javitch, Block, Eisen and Rathbone (513-744-9600) and even though I’ve made them a reasonable settlement offer, they insist on dragging me through the court system. The particular lawyer assigned to my case has already lied to the Judge about two important issues. This is after they committed fraud on me and rejected my debt consolidation/settlement company.
This is basically identical to the tobacco companies which very aggressively tried to “hook” teenagers, Blacks, the elderly and others on tobacco products while with holding the warning that tobacco causes cancer. Getting sued causes emotional and mental distress and can lead to physical ailments and other problems yet Capital One Bank and other banks refuse to warn consumers when they mail these pre approved credit card packets that they will get sued in order to “hook’ as many consumers as possible.
John
Cincinnati, Ohio
U.S.A.
Click Here to read other Ripoff Reports on Capital One Bank
REBUTTALS & REPLIES:
1Author
1Consumer
1Employee/Owner
Updates & Rebuttals
#1 Consumer Comment
AUTHOR: Jim - Hoemtown (U.S.A.)
SUBMITTED: Sunday, December 15, 2002
POSTED: Monday, December 16, 2002
You act as if you don't know that once you borrow money, which is exactly what a credit card is, you have to pay it back!
Of course you will be sued if you do not repay what you borrowed. It does not take a rocket scientist to realize this. The company is not hiding anything - it is a known fact that a company will do what it takes to recoup their money. You signed on the dotted line. Yes, they did market to you, but you ACCEPTED their offer and agreed to the terms and conditions of that offer. If you did not read the agreement, that is your fault.
Sorry, but the company is doing only what it needs to when a consumer like you takes out a loan and has no intention of paying it back.
#2 Employee
AUTHOR: Ed - Houston (U.S.A.)
SUBMITTED: Monday, December 16, 2002
POSTED: Tuesday, December 17, 2002
Actually, John, you have no idea whether he actually incurred the charges in contention. In most instances, in my opinion, 90% of the contested balances are late fees and overlimit fees assessed by Cap One. Of course, Cap One does not send the details of how they assess these two fees until, if ever, after the cardholder signs his or her agreement.
In my experience, Cap One adds charges for items never order (e.g., "Privacy Guard"), and assesses fees in violation of its own Customer Agreement. If the cardholder questions the fee, Cap One insists on its own self-serving interpretation of the Customer Agreement - that the cardholder sees, if ever, only after entering the contract.
