• Report: #470002

Complaint Review: Capitol One Credit Cards

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  • Submitted: Wednesday, July 15, 2009
  • Last Posting: Wednesday, July 15, 2009
  • Reported By: — janesville Wisconsin
Capitol One Credit Cards
Po Box 6492 Carol Stream Illinois 60197 U.S.A.

Capitol One Credit Cards I will NEVER, EVER do business with them again. Carol Stream Illinois


1Author 2Consumer 0Employee/Owner

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I got my first business credit card with Capital One 15 years ago. They haven't lost a dime on me as I have faithfully paid all my bills.

After a little while unfortunately, I started carrying a balance so they have been making pretty good money on me. I inadvertently missed a payment last year and my interest jumped up to 26% so I decided it was time to find someone else to spend my money on.

In May I paid the entire balance off. But I forgot about a small automatic payment so I got hit with a late fee and they bumped the interest up to 29.4%. Before I realized it (since I hadn't charged anything), I got a second late fee and they froze the account for a grand total of $48.71. So then my phone provider suspended my account for nonpayment.

When I called them, it was "too bad, so sad..." Unwilling to drop even the late fees after 15 years and thousands of dollars of interest and fees -- I got the distinct feeling that they wanted to milk this cow dry so they could move on to the next sucker.

So I closed the account. I will never do business with them again. AND I am working diligently to cut back, pay off every card and never put myself in bondage to a credit card again.

Ted
janesville, Wisconsin
U.S.A.

This report was posted on Ripoff Report on 7/15/2009 12:17:58 PM and is a permanent record located here: http://www.ripoffreport.com/credit-debt-services/capitol-one-credit-c/capitol-one-credit-cards-i-wil-266a6.htm.

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1Author 2Consumer 0Employee/Owner
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#1 Consumer Comment

So

AUTHOR: Ashley - Springfield (U.S.A.)

SUBMITTED: Wednesday, July 15, 2009

"But I forgot about a small automatic payment so I got hit with a late fee and they bumped the interest up to 29.4%"

So you messed up, and its their fault?
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#2 Consumer Comment

So let's see here..

AUTHOR: Robert - Irvine (U.S.A.)

SUBMITTED: Wednesday, July 15, 2009

You miss a payment and they bump up your interest rate to 26%. But of course it is their fault that you missed it right?

You then paid it off but forgot about an automatic payment. They then charged you a late fee and increased your intrest rate. But it is their fault again that you forgot about the automatic payment?

They then suspend your card, and this causes your phone to get cut off for non-payment. So again this is their fault?

I do find it interesting how you said it was "time to find someone else to spend you money on" when they raised your interest rate the first time. But when you try and get them drop the late fee at a later time, you are upset that they won't do anything for you. Why would they? You already stopped using their card, and I am almost positive that you would have made sure that the one automatic debit was changed.

"...AND I am working diligently to cut back, pay off every card and never put myself in bondage to a credit card again..."
- This is the one thing I agree with you on and the best thing you can do for yourself. But not just for this company but ANY credit card company.
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