- Report: #952339
Report - Rebuttal - Arbitrate
Complaint Review: Capital One
Capital OnePO Box 30285 Salt Lake City, Utah United States of America
Capital One Although account is closed still charging interest Salt Lake City, Utah
*Consumer Comment: Again...
*Author of original report: I've been making payments for years
*Consumer Comment: Not how it works..
They replied that they will not close the account until the balance is zero and that the (compounded) interest would continue to accrue. Thus, they are effectively saying that I will be indebted to them for years because the interest on the principle, interest and late fees will continue until I can afford to pay them off in lump sums.
I have paid them well over $4000 so far for a $2000 credit line! By the time I can afford to pay them off I will have paid well over $10,000 for the privilege of being in debt.
This report was posted on Ripoff Report on 10/08/2012 10:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/Capital-One/Salt-Lake-City-Utah-84130-0285/Capital-One-Although-account-is-closed-still-charging-interest-Salt-Lake-City-Utah-952339. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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