Capital One No Hassles Mastercard Complaint - Misrepresentation of Credit Limit
When I applied for this card, Capital One put a credit limit of $2,000 on the account. I told them that this was not high enough and the card would not suit my needs because when I travel, a hotel bill could total well in excess of $2,000. The representative told me that as long as the balance was paid in full by the end of the month, there would be no problem. He further explained that the credit limit meant that I was not allowed to carry a balance over $2,000 into the next billing cycle.
That information was incorrect. Luckily, I was in the U.S. when I found this out and I did have other credit cards to fall back on. Capital One declined all chargaes as soon as the current balance reached $2,000.
I applied for and received this card because I was intersted in the fact that there were no bank fees (money transfer fees to another currency) when travelling abroad. This card requires Excellent credit.
I kept the card until I learned that they misinformed me; I cancelled immediately.
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