Capitol One Credit Card - Deceptive Business Practices
Best Buy Credit Card handled by Capitol One - Complaint
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 discribed 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.