Capital One Bank
Internet
United States of America
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Capital One Bank Underhanded Tactics Internet
1Author
0Consumer
0Employee/Owner
I had a credit card from Capital One Bank for several years. It was a low limit of up to 500. One day I got a letter from them informing me that they upped my limit to 5500. . Within a few days , they started calling me and asking me to transfer balances. When I didnt make any transfers, then they started attaching transfer checks in correspondance that they were sending to me. Finally, I called to inquire about transfering a high interest ballance over to them. The balance I wanted to transfer was 2100. w/an apr of 19% and a min payment of 39.00. I made sure to inquire if there were any fees for doing the transfer, if the interest rate they offer will be lower, if they will write up the transfer as same as cash advance. I was told there will be no fees, the interest rate would be 12 or 13% and it will not be written up as a cash advance. I also asked if this was a promotion that if I didnt pay it off in a certain time the rates would go up and I was told no. They did transfer the balance and when I got my bill for the 1st 3 months, the interst rate was low and the min payment was very low. Then suddenly when I get my bill again, the min payment went up to 185., the interest rate went up to 25%. Knowing I was not in default with anyone, I called to ask what was going on. Based upon the replies to my inquiries, it was clear that Capital One deliberately baited me....Upon inquiry, the customer service rep told me I was in a promotion which expired (even tho initially I was told that it wasnt a promotion), that they (cap 1) sent me a notice of change a year prior as well....But they didnt make a change when they sent the notice, instead they bided their time, sent me a limit increase, then hounded me to transfer balances, then lied claiming no promotion, then raised the apr and min payments alleging that they sent me notice of change a year ago . So essentially they put me into even worse situation than what I was in before I transfered a balance to them.
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