VIRGINIA -- When a credit card company holds up payment to one of their accounts by the customer Then it goes without saying the company is not in business to make money, but for its health, rest and relaxation! I discovered this in talking to the corporate level employees. It is very clear they are
in business for their own SELF SERVING INTEREST and not the customer who pays the bill. It is a good thing there are other choices....
After knowing some of their polices, They do as they please, rules or no rules and that is a fact in my case.
I purchased a washer and dryer from Best Buy on the 18 months deferred interest. The offer would expire May 17, 2012. I made another purchase two months later on the same offer which the 18 months would expire July 2012. I made all of my minimum payments of $25 early every month. On May 15, 2012, two days before the offer on the first purchase expired I paid $800.00, which by my calculations based on the first terms should have more than paid off the first purchase. 12 days later I paid the remaining ballance on the May statement of 611.49. Mid August of 2012 I got a phone call from Capitol One saying I was 60 days late on my payments and I owed $652.00. I told them it was a mistake on their part and went home to find my records. I called them back and explained what I had done as described above. They said when I made the $800 payment I actually owed $872 by May 17 because when I made the second purchase it changed how each payment was applied to each balance so I had mis calculated what I owed on the first purchase, so they charged me over $600 interest plus late fees. They said I should have read my statements and checked my online statement even though I thought it was paid off ( who does that?). I paid the full amount they requested and asked if they would not report the late payment on my credit because I had paid over $1,400 in a two week period. They said they had done nothing technically wrong, it was all my fault. They did refund half of the $652 I paid but refused to remove the late payment from my credit even when I asked they keep the refund and remove the late payment. In 20 years of credit, several of those with Capitol One accounts, I have zero late payments until now. They are obviously more interested in trying to destroy a persons credit than anything probably because then they can charge more interest. I immediately canceled my account and filed complaints with BBB and everywhere else I could think of.....CAPITOL ONE IS A DECEPTIVE COMPANY.
LONG BEACH, CALIFORNIA --
The CapitalOne Credit card company advertises and frequently sends promotion checks to customers allowing them to use checks for purchases, cash, or transfers with no transaction fees. However, their system automatically put on hold customers credit account for trivial/wrong reason. Consequently, customers suffer charge back for returned checks and fee for cancelled checks even they have never spent over limit on their CapitalOne credit accounts.
On 7/17/2012 I paid $2000 for my credit line of $2000. CapitalOne accepted this payment and my balance became -$90. That meant CapitalOne owed me $90 and my balance had $2000 available. The next day, 7/18/2012 I wrote a CaptialOne promotion check #12923 of $1800 and deposited to my checking account at Bank of America. However, until 5 days later, on 7/23/2012 I knew the check was denied. Bank of America charged back $12 for returned check and subtracted $1800 from my bank account. I also suffered fees from other cancelled checks due to insufficient checking account at BOA.
On 7/24/2012 My account balance is $0, my available credit $2000, I wrote another check #12924 of $1820. Still, again my account is on hold due to other banks deposit $3000 into my account on 7/26/2012.
I contacted CapitalOne five times about this problem. They said: "An account will be put on hold if there is (1) Large amount of payment or (2) Multiple payments. It is automatically system, they cannot change it.
These are wrong reasons because Capital accepts large amount and multiple payments from customers. Why did they accept payment and then put on hold their customer account? They can put on hold the amount deposited until it is cleared. But they should not put on hold consumer credit line or their entire credit account. Put on hold credit line and put on hold the check is different matter.
CapitalOne said they want to make sure the amount received is cleared. However, the amount should be cleared before posting the transaction. They should post only after the amount is cleared and should give the accurate balance on their customer credit accounts. For example, it is very confused for customer having balance negative -90 after paying $2000, but credit is not available as if they paying late. The payment from customer in large amount to CapitalOne is not customers' fault. Customers do not spend over limit on their account. Instead, customers pay to increase the amount available on their account. It is different from late payment.
CapitalOne also failed to notify me about their decline as they stated in section “Important Information About this Offer” on the info how to use Capitalcheck promotion.
I believe hundred thousand customers have been suffered such wrong and unfair practice. FTC and STATE should investigate to protect other Citizens from this error.
I want CaptialOne pay back any charge back fee by Bank of America, other cancelled check fees, and other lost due to CapitalOne system error.
COLORADO -- This is the sorriest company I have ever dealt with. They added new charges after I closed the account and paid off their so called balance. They transferred a balance without my permission when I had merely called to ask questions about this procedure. Had all kinds of trouble getting that taken care of. I was hung up on several times. My bank tried to help. Same thing happened. She was hung up on too. Had 6 fraudulent charges that were never resolved. I paid them just to get rid of these Bimbos. Never again!!!!! Would never recommend this outfit to anyone except an enemy.
ERIE, PENNSYLVANIA -- I am very disappointed with the service I received from Capital One customer service. I have had their credit card for more than 10 years and I have never been late in making payments. In the past, I have always paid my balance in full. This past year, I was not able to pay off my balance in full but I was making my regular payments as scheduled. I was just recently able to pay the balance in full, including a purchase that would have showed up in the next billing cycle. The whole balance was paid well before my due date, which should reflect a zero balance. Well I get an email with my new statement balance and there is a fee of $51.29. I logged on to my account to view my previous statement to make sure I paid off the correct amount before I called Capital One to inquire about the fees I was being charged. I did make the correct payment, so I called customer service only to be told that the fees were correct even though I paid my account in full by the due date. I was told it was accrued interest. When I asked if there was anything I could do to have the fees removed, the customer service representative said "no". I told him that I was very disappointed with the company and that they obviously don't appreciate their customers when they do not work with them on such minimal amounts. I would not recommend getting a credit card by Capital One if this is how they treat their loyal customers. There are a lot more other credit card companies that are willing to work with their customers, especially when the customer has never been late with their payments and they have had their credit card for over 10 years. This is one long time customer Capital One has lost.
BROOKLYN NY -- I just finished completing the assessment for Capital One Job Application for an Open position, for part-time bank teller. Took me 2 hours to complete, what I do not understand is after I finished the assessment that I just took, that I took my time and completed all the questions, comes back telling me that due to carful review of the assessment that I took, I am no longer an candidate for the job!
Excuse me I took two hours to fill out a Part-Time job, that is just basic counting and customer service, and you have the nerve to tell me that I am not qualified?! OK what did I do wrong? I tried to get the results of the assessment the Capital one site locked me out! How in the world do the Capital one HR are going to find people to fill positions, if the assessment comes back talking about after careful review, what do you mean careful review I just submitted the assessment less than 4 minutes ago.
Than the Capital One want to send me some more job offers for what may I ask? Forget Capital one!!!! If I guessed failed the assessment but won't tell me the score what I am going to apply for positions for?!
Save yourself the trouble walk into places of employment and ask for an application! Enough of thee online assessments and applications!!!
TEXAS -- In November of 09 I received a blank check from Capital One Auto Financing. I wanted to have the financing done before going to the dealership. They advertise for the blank check program as cutting the red tape and hassle dealing with car dealers by having your financing up front. After completing the paper work needed to leave the lot and signing the Capital One check for the new car I drove home.
I find out later they applied for a bank loan on my behalf for $20,000 with Wachovia. No application, never mentioned the word Wachovia and when my attorney asked the dealer what happened to the check he say I can't talk with you now.. Later the manager said to my attorney I came on their car lot needing financing. They receive a commission from the bank for making that bank loan, not the case with a Capital One Blank Check. Much higher interest rate for the Wachovia loan.
The point is very careful using this kind of financing. The dealer will just destroy the check and apply for a loan on your behalf not telling you. They have enough information on you after filling out license and registration and warranty and disclosure on your trade in that the bank thinks it's you on the computer. Why the bank gives dealer the right to apply for a loan on your behalf is crazy. I don't trust any car dealer or finance manager.
This occurred a week before Wachovia was taken over by Well's Fargo so I don't know how lax they were at the bank handing out car loans but it must have been easy not to know who I am. Now I try to get a loan today and not a chance. This dealer and finance manager have ruined my credit. As for Capital One, they are self destructing. Stay away from dealership and their employees.
Most Banks & Credit Unions have well established processes to address possible fraud being perpetuated against their customers -- especially phishing by con artists who target the institution's customers. Apparently, Capital One does not & does not care.
RECOMMENDATION: If you're a Capital One customer, or thinking of becoming one, use their information and call as if you've got a fraud issue--and see how you're treated, or would be if you did. You can state right up front you're sampling their process & be totally honest about your situation -- but save that for when you actually get to the right person. Compare them with other banks. You'll experience a big difference. Guaranteed.
I got two suspicious calls asking for personal info right up front and the reason why was unclear. So I hung up.
After the second call my wife called me at work with a similar experience...so I called Capital One based on the "Bank" phone number provided at its website.
I explained the situation and was passed off a couple of time until I ended up right where I started. I called again, with similar results. I called the two convenient branches I frequent, again to no avail; the people there had no idea. One, however, informed me that the calls were "probably" associated with activating the new ATM card they claimed they sent me, but I never received, to replace the card with "Chevy Chase" on it. As a security precaution they canceled ALL my ATM cards!!
But since that didn't explain all the calls--if it did, why Capital One didn't say right up front they were calling to activate a new ATM card indicates very poor communication skills.
Then, out of rising curiosity I called the following numbers and was referred as follows:
1-888-810-4013 (banking customer service number on Cap One's website);
the person there referred me to "Security" which they assured me where there "24 hours"; based on the experience thus far I asked for the number in case the call got disconnected (blaming my phone for the likely problem). I was told I was being referred to: (301) 939-6600. That was never answered (and the call was not disconnected; the forwarding worked, such as it did).
I tried 703-720-2500 -- which reaches Capital One's CORPORATE TELEPHONE OPERATOR -- and that person transferred me to the Fraud Department at 1-866-344-8899 -- and the person answering there claimed they did NOT even service (at the time I called, March 4, 2011) Capital One!!!
Maybe that Capital One Corporate Telephone Operator was trying to tell me something.
BOTTOM LINE: I was NEVER able to contact anybody at Capital One that could, or would, address the apparent problem -- that someone seemed to be targeting Capital One customers via a focused, and persistent, phishing attack.
BENCHMARKS: I contacted my long-standing Credit Union, Insurer, and a couple of other local banks (one of who is my new bank post-Capital One...), all based on their webste info, and asked them the same question I tried to ask Capital One. EVERY one of them was able to explain their process...and it took exactly one phone call on my part to get to someone every time.
Why would anyone want to do business with with a bank that lets its customers fend for themselves?
Maybe that's why they're saturation marketing with TV commercials using lunkheaded barbarians (at least in the Northern Virginia area) -- they're targeting the market of dopes they can dupe??
I read somewhere that Capital One is (early 2011) providing credit card accounts for higher risk customers than its competition ( i.e. its providing credit cards to those rejected by credit card providers) -- so, one would naturally expect more problems...and it is in Capital One's selfish self-interest to provide lousy service given a clientele that would be having above-average problems ... or put another way ... they may provide the same level of service, which would be diluted by increasing use by sub-tier customers.
MARYLAND -- I don't know where they found the people who work for this bank, but they are without a doubt the most ignorant people I have ever encountered in such a setting. I never had any problems with Chevy Chase Bank, but as soon as Capital One took over, everything started to go wrong. The two most frustrating things are: 1. You have to have at least two and a half hours to kill if you need to go to a branch and speak to a person (who has that kind of time?). 2. In this modern age, they have no way to provide you with a statement except by mail.
I had the day off yesterday, so I went to a branch and waited.. and waited.. to see someone. I asked why I can't get access to my account through their online banking system. I had some little ghetto ass punks make fun of me and tell each other I must be stupid if I can't get it to work. One little kid just stood there playing with his crotch the whole time and looking at the guy next to him. The other one gave me all kinds of attitude, but couldn't answer a single question.
I then waited again to speak with a "specialist" who was no better. I also asked why my "incredible interest" account is not earning any interest despite meeting the necessary balance requirements. The "specialist" was able to view both my balance and the account minimums. However, she was completely incapable of comparing the two and determining which one was greater. She got so confused, she decided to just close the account and start a new one??? When she told me her intent, I said "NO!" I will be back later to close my account and will not be opening any new ones with you". I then asked for my ID back and she refused to give it to me. For 10 minutes I demanded she return my license and she only did so after I indicated I would call the police.
MARYLAND -- I have two accounts with Capital One -- for clarity I will refer to them as Account A & Account B. About two weeks ago I used Online Bill Pay to set up some payments because I was traveling out of the country for an extended period. I inadvertently arranged for the funds to be withdrawn from Account A instead of Account B. There were insufficient funds in Account A to cover the payments but more than sufficient funds in Account B. My first indication of the error was when I received an email saying that the payments were not being honored. I immediately logged into the account, saw the problem and corrected future payments to be taken from Account B. The problem was that in the meanwhile, Capital One had assessed $175.00 in fees against Account A. They paid one of the bills and returned the other 4. When I called Capital One, I explained my error and asked them to help me by waiving some of the fees. They agreed to waive $105.00 in fees. I was also told that the payments that had been rejected were going to be resubmitted into Account A and that I should ensure there were sufficient funds in that account to take care of those payments. I immediately transferred from Account B into Account A WITHIN THE SAME BANK funds sufficient to take care of the overdraft (including the amount expected to be refunded) AND the payments that had been rejected. This conversation and transaction occurred between 11:30 and 12 noon on Thursday (8/26). So far so good.
However, now being careful to monitor the situation, on Friday morning I logged into the accounts. To my surprise, an additional $140.00 in fees had been withdrawn from Account A (into which I had transferred funds the previous day)! The fees were posted to the same date as the fees that had been visible during my call(8/25) and none of the payments had been made. When I again called Capital One, I was told that the fees had been already assessed but as I had had a negative balance they were not shown; once funds were deposited they were assessed against my account (A). The ledger (of which I have a copy) clearly showed where the negative balance changed to a positive balance on 8/25, but the actual posting of the transfer is correctly shown as 8/26.
I have the following issues with the lack of service provided by Capital One:
A bank interested in providing service would, or should, have noted that there were sufficient funds in one account and not the other and acted accordingly. Whether that was to debit the correct account, to contact me about the discrepancy, or both, an assessment of fees under those circumstances would have been well-earned. As it is the assessment of fees totaling $210.00 ($315.00 minus the $105.00 refunded) for an error on my part amounts to highway robbery.
There is something fundamentally dishonest about hiding some of the fees that were being assessed against my account because of the error, but then immediately posting AND withdrawing them once funds became available. I realize that much is automated these days, but the reason for my transfer of funds was to take care of the overdraft AND to cover the payments that had been submitted. Automation means that the so-called "customer service representative" was able to know that the payments had already been submitted a second time, that there were additional fees being assessed as a result, and that payments into the account would be gobbled up by those fees. Her failure to disclose this information to me appears to have been reflective of bank policy and was dishonest.
This is why I feel that I have been lied to and ripped off by Capital One! Acquisition of Chevy Chase, with which my husband has banked for so many years, has changed what used to be an excellent bank into nothing but another uncaring and dishonest institution!
I'VE ADDED A CLARIFICATION TO ADDRESS THE FOLLOWING COMMENTS POSTED:
1) The commenter said it is not the position of any financial institution of which he/she is aware to have in some way accommodated my error. My point is that it should be. In fact, I have another account at a regional bank and I know for a fact that they would have withdrawn funds from one account to cover the overdraft -- for a fee but I don't mind paying for real service.
2) The commenter questions whether the customer service associate was doing anything "fundamentally wrong" in not making sure that I knew of the extent to which these fees had accumulated, and further that there is no reason to believe the associate didn't already believe that I knew the full amount of the fees being discussed. My response is that, in light of the conversation that I had with the representative, which extended for about 30 minutes, the representative knew or should have known this information AND acted, perhaps according to bank policy but dishonestly from one individual to another. In fact, I believe I listed to her the fees that were posted at the time of our conversation. Furthermore, we also discussed how much I needed to transfer into the account to cover the overdraft fees AND the outstanding payments. That would have been the opportune moment to tell me that there were other fees that were not visible to me on the account. The only possible explanation that lets her, but not the bank off the hook, is that these fees were not visible to her either. To which I ask - why not?
3) The commenter concluded that I should compliment, rather than complain about the bank's actions in having dropped $105.00 in fees. I acknowledge the bank's token actions, and had the matter stopped there I would have had no complaint at all about its conduct.