• Report: #230623

Complaint Review: Capital One

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Mon, January 15, 2007
  • Updated: Fri, April 13, 2007

  • Reported By:White Plains New York
Capital One
www.capitalone.com Internet U.S.A.

Capital One Capital One Payment Protection Plan Rip Off Overlimit Due Fees Internet


*Consumer Comment: They Don't Honor Their Payment Protection

*Consumer Comment: Um, no.

*Consumer Suggestion: PAY ATTENTION

*Consumer Comment: $30+ payment

*Consumer Comment: Odd

*Consumer Comment: Need to pay more

*Consumer Suggestion: I think you are misunderstanding the purpose of the Payment Protection Plan

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I haven't used my card for months since my limit if only 300 and I am paying minimum dues of 30 something dollar. Then when I went online this morning to pay my monthly due, I was surprised when I saw a transaction that I wasn't really expecting. Payment Protection plan (1-888-527-6904) of 2.73 plus 29 bucks overlimit fee. I made a payment of 32.00 (12-15-06) due on (12-19-06)originally it was 332.00 so I paid 32 minimum. Then for days later I was charged 2.73 for the payment protection I didn't plan on signing on to then the 29.00 fee. SO my recent transaction was 31.73 which was obviously bullshit fees. I rarely use this credit card.

My concern is when I try to call the Payment Protection by Capital One (18885276904) the machine prompted me to call Capital one at 18009557070, there was no option on any of my complaints so I tried speaking to a representative. She then told me to call Payment Protection which number was shown above and I called previously. They were just forwarding/passing me to one another.

I do not understand what was the Payment Protection Plan for if that would only mean I or we have to pay overlimit due, due to the fact they charge monthly service for a service that is supposed to avoid you to have overdue feeS? Can you understand what I am trying to say? What is the use of the service? I thought it was just ripping us off customers who have limited or low credit. They don't answer calls regarding the problem, they change subject and offer stuff.

It's just not fair that I am paying 31.00 later fee after paying 4 days earlier of my due date. I do not like how customer representatives put you on hold for minutes listening to ridiculous music. Capital One credit card, no hassle? that's so BS. Too much hassle for me, I want my money back.

Can you imagine how mad will you be if you paid on time of due then days later you get an overlimit fee? Which supposedly protects you for something you paid for. Okay, I am going to stop repeating, I hope you get my message. Thanks ripoff report

White Plains, New York

This report was posted on Ripoff Report on 01/15/2007 07:30 AM and is a permanent record located here: http://www.ripoffreport.com/r/Capital-One/internet/Capital-One-Capital-One-Payment-Protection-Plan-Rip-Off-Overlimit-Due-Fees-Internet-230623. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Capital One

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
0Author 8Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion


AUTHOR: Jeanne - (U.S.A.)

I don't condone what happened to you. Call the number and ask for a creidt line increase without detailing anything else. If your credit is o.k., they will usually increase it, expecially is you only have a $300 limit.

To get your money back for the Credit Protection that you said you did not ask for, wirte a letter detailing everthing, including what they owe you. They are supposed to respond withina certain time period.
Respond to this report!
What's this?

#2 Consumer Comment

They Don't Honor Their Payment Protection

AUTHOR: Elizabeth - (U.S.A.)

I actually think that the OP is saying they added the payment protection without their knowledge or approval.

I had been paying for Capital One's supposed payment protection plan for over 5 years. When I called their payment protection division to tell them I would not be able to pay due to my husband loosing his job, the said they would send out the forms before my next payment was due. That was in December of 2005.

A month later, my January payment was due and no forms had arrived. I called Capital One to ask what to do. They said they were sorry, but I needed to notify them a month before the payment was due. When I explained all that happened, the Customer Service rep hung up on me. I called back and got the "sorry, I must have been disconnected" excuse.

I called payment protection five days in a row and was on hold for over 2 hours each time. I gave up after a week of trying.

Until they cancelled my card due to non-payment, they were still charging monthly for a payment protection they refuse to honor.
Respond to this report!
What's this?

#3 Consumer Comment

Um, no.

AUTHOR: Mark - (U.S.A.)

"Payment protection is to help protect you in case your card number or card is stolen..."

This is not true. You might want to look at the payment protection policy again. You'll find that credit card fraud is NOT covered.
Respond to this report!
What's this?

#4 Consumer Suggestion


AUTHOR: Shauntenell - (U.S.A.)

I have a capital one card and I love my payment protection. Payment protection does not keep you from getting late fees if you don't pay your bill on time. Payment protection is to help protect you in case your card number or card is stolen or if you loose your job or are experiencing hardships. I lost my job and all I had to do was report to payment protection the date I lost my job, my ex-employer had to fill out some information on the same form as I stating why, and a little contact information was required. Once I regained employment I still had late fees that had racked up from the time that I was umemployed but when the paperwork went through, they paid my minimum amount due for the months that I was unemployed and paid the late fees for the months that were past due so it brought my account into good standing. Payment protection does not keep you from incurring late fees you need to review your agreemenet.
Respond to this report!
What's this?

#5 Consumer Comment

$30+ payment

AUTHOR: Mark - (U.S.A.)

The "30 something dollars" the OP was referring to is probably the overlimit fee that she got, plus any accrued finance charges and payment protection charges. The good thing is that she can cancel the payment protection, but not the finance charges. Those will continue to accrue as long as she carries a balance from month to month, putting her at further risk for going over her limit time and again.

That's why I said that the payment protection charges shouldn't be her only concern. She can make a payment to bring her balance to down to her $300 limit, but as soon as her billing date comes, those finance charges will be tacked on and take her back over $300 again. Paying just to her limit will do her no good. She needs to give herself a bigger buffer between her balance and her credit limit -- pay the balance down to $250 or even $275. Otherwise she might as well just ask for monthly overlimit fees.
Respond to this report!
What's this?

#6 Consumer Comment


AUTHOR: Cory - (U.S.A.)

Your figures don't seem to add up. Usually the monthly payment due on a credit card is around 4%. 2% going to principal and 2% going to interest unless you have a very high intrest rate. If you're paying 4%, your monthly payment would be appox. $12. Now you state your monthly payment is "30 something dollars". You further state you haven't used your card for months because it's maxed out at $300 and you're only paying the minumum payment of "30 something dollars". If a $2.79 payment protection plan is sending you "overlimit", I'd cancel the protection plan AND cut up the card. Lord, if your balance is ONLY $300 and you're paying "30 something dollars" a month, you ought to be able to pay it off in a couple of months, just by skipping a couple of fast food lunches a week, bring your lunch to work and tightening your budget a bit.
Respond to this report!
What's this?

#7 Consumer Comment

Need to pay more

AUTHOR: Mark - (U.S.A.)

The payment protection isn't your only problem. Your problem is that you maxed out your credit card and went over your limit. Next time try paying down BELOW your credit limit and then you don't have to worry so much about getting overlimit fees.

As for payment protection, just call the company and cancel it if it's not something that you want. Otherwise it will be charged automatically to your account every month, even if that means it will put you over your credit limit.
Respond to this report!
What's this?

#8 Consumer Suggestion

I think you are misunderstanding the purpose of the Payment Protection Plan

AUTHOR: Karen - (U.S.A.)

Following is the description of the plan, found in the FAQ section of Capital One's website.

9. Is payment protection available on my Loan or Line of Credit?

Yes, payment protection may be available for your loan, depending on the amount borrowed and term of the loan. Payment Protection is a credit insurance plan that includes credit life and credit disability (accident and health). Credit life is a term insurance plan purchased in conjunction with a consumer credit transaction (loan or line of credit). The cost is regulated and set by the State.

Just a suggestion, but if you don't like the service(which is nothing similar to what you are describing it as) I believe you can cancel it at any time. Have you tried to cancel it?
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.