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Capital One - Careful When You Close Your Account

Credit Card - Complaint
Review by courtneyarmen on 2012-09-01
Rating: StarStarEmpty StarEmpty StarEmpty Star
Be very careful when you cancel your credit card because they will allow transactions beyond your "pending" payments to go through after you cancel. I had a regular payment coming out of that account that I didn't realize and they allowed two more payments come through before I caught it. It's ridiculous. When someone cancels a card they are not going to go a check that account regularly, but with Capital One you should.

They also continued charging me a Payment Protection fee...for an account I had closed! Apparently, you have to call separately to cancel that too! Why can't they just cancel everything with one call? Why on earth would they continue accepting transactions when you CLOSED the account? Kind of a scam in my opinion! I will NEVER use Capital One again.
Comments:
Posted by trmn8r on 2012-09-01:
This is common with auto payments that are set up. Many banks do it. And if you close an account, and an electronic deposit occurs, it will reopen the account. Maybe banking regulations are involved.

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Overall Rating:StarHalf starEmpty starEmpty star