Capital One Secured Card - Suspended Service - Capital One Master Card

Secured Capital One Master Card - Complaint
Review by wijsone on 2012-04-20
Rating: StarEmpty StarEmpty StarEmpty StarEmpty Star
MISSISSIPPI -- I obtained a secured Master credit card from Capital One in the amount of $800.00 limit. Two weeks prior to the payment due date I was receiving email notices to make a payment, which I declined to do. Payment was due on April 6, 2012 and I paid the entire balance of $731.80 on April 3, 2012.

The next time I tried to use the card it was rejected. After a couple of online chats with bank personnel and a couple more phone calls I was informed that my card had a ten day temporary hold placed on it. Since I had to discover this the hard way, I closed the account.

I was informed a week later that none of my security deposit would be allowed for any outstanding balances and my deposit would be held for sixty days from the date of a $0 balance.

Beware of this bank's terms because not all is disclosed before card activation.
Comments:3 Replies - Latest reply on 2012-04-21
Posted by trmn8r on 2012-04-20:
I am going to go out on a limb and suggest that they didn't like the fact your balance was so near to your credit line.
Posted by madconsumer on 2012-04-21:
sounds like they are making interest off of your deposit. you paid off the balance, and they are playing games.

very helpful review.
Posted by wijsone on 2012-04-21:
Capital One lost my savings account which was significantly more than the secured credit line is worth. They will also lose my checking acct and debit card transactions in May. I have reverted back to using cash for the time being. I'm finished with the banks; I'm now with a local credit union.

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