• Report: #970051

Complaint Review: Capitol One

  • Submitted: Fri, November 16, 2012
  • Updated: Fri, November 16, 2012

  • Reported By: Rob — Portland Maine United States of America
Capitol One
, Texas United States of America

Capitol One BEWARE OF CAPITOL ONE AND THEIR "AUTO BALNK CHECK PROGRAM! ITS A SCAM! Texas

*Consumer Comment: Purpose?

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My experience with Capitol One was unacceptable. When the email was received soliciting the Auto Blank Check program, I became interested. I responded by completing the initial application. The following email stated that it had been approved. The email further stated that I needed to forward two items. The first, a copy of identification, and the other proof of salary. I faxed this information to Capitol One that same day. I followed up with a call to Capitol One to confirm they had received everything. They did validate all items were received. On October 31, 2012 the Blank Check had been sent with a limit of $13,200.00. On November 2, 2012, I received the Blank Check in the mail. The packet contained the loan contract and a credit report Snapshot. Based on the path of emails, telephone conversations and the receipt of the actual check, I was lead to believe I would be able to shop for a new vehicle. TWO WEEKS later, I get a call from Capitol One stating they need additional information I returned the call just to be told that they were not able to verify my salary. I asked what method they used. I said that they had received three months of payroll confirming my yearly salary. They said they had called my employer and were off by 230.00 per week. I went to my HR department and verified through phone logs that no call had been made from Capitol One. They had willingly lied to me. I asked them to please tell me who they verified it with or the number they called, and this could not be provided. I was than told that my debt to income ratio was too high. How could they make that determination if they could not verify salary? This is a bait and switch practice where you are lured in by a deceptive promise. Why would they feel the need to send a Blank Check that you could use (up to a defined limit of course) just to be told 2 weeks later that they have found reasons to no longer keep the offer they had originally made. Because of this, I feel it necessary to file complaints with my states banking department as well as consider additional options to warn the consumer about this scam. I will never do business with Capitol One and I will always make sure I do my best to prevent anyone else from making the same mistake.

This report was posted on Ripoff Report on 11/16/2012 06:53 AM and is a permanent record located here: http://www.ripoffreport.com/r/Capitol-One/-Texas-/Capitol-One-BEWARE-OF-CAPITOL-ONE-AND-THEIR-AUTO-BALNK-CHECK-PROGRAM-ITS-A-SCAM-Texas-970051. 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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#1 Consumer Comment

Purpose?

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

The purpose of a scam is for the person doing the scamming to take some unfair advantage of the person being scammed.  So just how is Capital One taking advantage of you, and what are they gaining by doing this?

Unless you have left out quite a bit of information, it appears that the only thing that this has "cost" you is a bit of time.  Because the only way that Capital One makes any money off of you is if you were actually approved and get a car.  At worst you may have gone to a dealer and bought the car with the check, only later finding out that you had a problem.  But again if the loan is declined Capital One gets nothing out of this.

By the way $230/week is just shy of $12,000/year.  That is a huge discrepancy, but how can you prove that they didn't call?  Are you really saying that your HR department went through their call logs and looked at EVERY single number coming into the company and verified that it did not come from Capital One?   Sounds like your HR department may have too much time on their hands.

Or do you still really think that no one at Capital One has anything better to do is to get a good laugh and send out fake approvals and then tell them that they weren't approved.
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