Capital One Visa F.S.B. Capital One Withholds Posting Receipt of Payments Until After Due Date ripoff City Of Industry California

I have been using Capital one credit cards since 2001.

My problem pertains to mailing out my payments which I do one to two weeks prior to the due payment dates. In these years I have had over 10 overdue payments, which have partially ruined my credit. I was reluctant to complain in the hopes of giving this company the benefit of the doubt. However, I have been driven beyond forbearance to complain about this company.

What I have noticed is that Capital One deliberately posts receipt of payments after the date due has past. For instance, I sent in my payment to a credit card that whose bill I was totally paying off two weeks prior to the due date. The payment due was $92.87. I sent in a payment of $93 which effectively would have paid off that bill. I kept calling their number to follow up and see whether they had posted my payments via their automated reply system.

For the past two weeks I kept receiving the message, that my $92.87 was due on January 25, 2007. Now it is January 26, 2007 date and now I have learnt after phoning in that I have been slapped with paying twice the minimum amount plus the late fees. This has happened to me over 10 times.

Whenever I write to them, most of the time, they reply that due to a "technical error," they failed to post my payment on time. I keep wondering why they do not fix that "technical problem."

I also noticed that they deliberately set up my phone so that whenever I call their cusotmer representatives, I cannot get through them. Oftentimes, whenever I have gotten to their cutomer representatives and expressed concern as to why my payment (that I sent in way ahead i.e. one, two and at times three weeks in advance) hasn't been received, the following day when I phone in, I find that my payment has been credited.

I think that is why they do not want me bugging them over the phone. They want to sit on my payment and deliberately post it after the due date so that they can rake in late fees as well as raise interest rates on me, which they have successfully done.

Some of their customer representatives have advised me to use their online payment system. while that may be a good idea, I am afraid of my transactions being hacked since oftentimes my computer is infected with a couple of viruses, phishers, spoofers, spyware and adware. So, given such problems, online payment would not be a cool idea.

Let me hope the current congressional hearings, which incidentally involve Capital One, rein in such crookish companies as this one.

Stephen
Flagstaff, Arizona
U.S.A.