Capital One CC Bites!

[poundwise]

Re: Capital One CC Bites!

I don't these are issues specific to Capital One. Nearly, if not every, credit card company is very interested in charging late fees and raising rates at every opportunity.

I had some serious financial shortfall a few years ago and, due to late payments, three cards, issued by Citi, Discover, and Capital One all ended up raising the rate on my balances to absurd levels. After I made timely payments for a while, I called each of them to see if I could get my rates reduced. Of those, Capital One did the most for me, cutting the rate by more than half to a very reasonable rate.

I'm sorry that you are having a terrible experience with them at this time. I hope it works out for you and your family.

I think it just goes to show all of us that we all have to be careful when dealing with credit card companies.

[BignRichfan]

Re: Capital One CC Bites!

Im glad you let me know just how capital one works, and glad your not working there anymore. That explains why they basically refuse to put a supervisor on the phone. Anyway I fell behind on my household (HSBC card) and Merrick bank card also. HSBC waived all late fees with no problem as long as I made 2 on time payments which I did and now im back on track with them. Merrick bank I went on a hardship program where they lowered my interest to 6% and closed my account and I am paying them back with no problems. Seems to me capital one is the ones with the problem. I made the efforts 3 times to make a repayment plan and sent them the money twice. Out of 5 accounts that we have with them( I know what was I thinking) only the 1 is behind and I have turned that one over to the attorney generals office and they are investigating them. I have since been getting numerous phone calls again from capitol one every day even though they were only supposed to contact me by mail. They did send me a bill yesterday and it says for me to call them so we can set up a payment plan if I am having a problem paying. What a joke. Been there done that. I think I will wait for the attorney general to work it out. I think these companies are getting off way to easy. They shot my interest up to 29% on that card. Even if I did try to pay with the interest and the fees I would never have anything coming off of the principal. It's useless. Im gonna sign that petition right now. Thanks.

[neatdesign]

Re: Capital One CC Bites!

If you haven't already, call Capital One and have them add your attorney to your account as an "ok to speak with". That means exactly what it sounds like: Capital One reps can speak to your attorney about your account, but that's it. Whomever you speak with (and it should be a regular customer service rep, NOT a collections rep) will put a permanent note on your account saying something like "OK to SW - Attorney Name" that reps will see when the account is pulled up on the computer.

As an OK to SW, our attorney can't request any changes (payment plans, fee waivers, etc.) for you, but at the very least Capital One reps will be able to discuss your account details with him/her. Otherwise, if your attorney calls into Capital One (s/he has to be able to pass all account verification, btw), the reps won't be able to talk to him/her.

Due to privacy laws, Capital One reps cannot to discuss account information with third parties. In fact, they cannot even acknowledge that a particular person is a Capital One customer, even if the caller is the customer's spouse (who's not on the account) or law enforcement. The OK to SW helps in that respect, without having to make your attorney your "power of attorney".

~ Jenney

[markio26]

Re: Capital One CC Bites!

thank goodness i don't have capital one... i only stay with credit card companies, who love me back with good business and fair offers.... best of luck with it.

[ski]

Re: Capital One CC Bites!

This is horrific!!! What a nightmare. I hope the AG sticks it to them!!!

[BignRichfan]

Re: Capital One CC Bites!

Thanks for the advice on the attorney, but this is the office of the attorney general and im pretty sure they have some higher powers although im not to sure what they are. I still have not heard anything yet, but I am getting like 5 phone calls from capital one everyday and now I have gotten 2 letters also. I figure they had their chance to work it out and im not playing nice anymore. Even HSBC(household bank) Tried to charge me a $30 late fee on my last bill in April because my bill was due on the 28th and I paid it on the 27th online. Well they say they take 3 days to process it which makes that may 1st right? But for a $12.95 fee they can process it right away! Well when I found out they charged me a late fee my husband called them and said look we paid ontime and I dont care if you cant process it in 1 day. He told them if you dont remove the fee I am calling the attorney general because I already have a case going against another credit card company for this and what you people are doing is illegal. Well she right away said I will waive the fee for you and it will show on your next statement. Im telling you these companies are getting away with way to much.

[boefixepa]

Re: Capital One CC Bites!

This sounds like what I went through with MBNA years ago. I feel the same way about them. CapOne has always been fine with me, but I've never given then reason not to. I pretty much believe that any CC will help you as long as you help them....basically don't ever fall behind or it bites you in the butt!

Often times easier said then done for sure! After years of dealing with interest and CC's I'm finally on the other end and I will live out of my car before I charge something I don't have the money to cover! I never what to live through it again. It makes you feel awful. You feel like the scum of the earth just because you don't have the money.

I feel for you, I've been there. It's hell. My only advice is remember this feeling when you want to charge something and ask yourself if what you want to buy is worth feeling like this if you were to fall on hard times again. Use these feeling to motivate the changes in attitude and lifestyle that will allow you to live within your means and slowly get everything paid off....again easier said than done I know...it takes time, but you will get there.

Mine wasn't even my bill!! It was a joint account I had with my sister and she had charged it all up and then not paid it for SIX MONTHS!! I didn't even find out until I went to get a car and they pulled my credit!! Needless to say...NEVER HAVE A JOINT ACCOUNT WITH ANYONE!! (Spouses...well I guess). Even though I love my sister, I will never loan her money again...ever. That 5k is still tied up in my HELOC and I guarantee you I will never see a penny from her.

[cbmeeks]

Re: Capital One CC Bites!

Yeah, I loved the day I paid off Capital One and told them I am closing my account.

You know what I said? They asked me "Well, what if we can give you a lower interest rate, would you consider keeping your account open?"

I said: "If you had any interest in keeping me, you could have given me a lower rate before. No thanks."


hahaha

How about this:

Capital One: "What's in your wallet?"

Me: "No credit cards and CASH!"

hahahahahahaha!

cbmeeks

[BignRichfan]

Re: Capital One CC Bites!

Ok here's an update........... The attorney general made capital one credit ALL late and over the limit fees back to me on both of my accounts which was like $500 up until now! They cannot do anything about the high interest at this point :O( My husband has been working a good paying steady trucking job so we should be on the road to recovery. Im glad they had to credit all of the fees back. Although my one account is 29% interest and im not happy with that, but im gonna work to get rid of them altogether. Just goes to show it does help to complain because they had no right to keep charging me like they were. Thanks to everyone here for all your advice and wisdom. You guys are great!!!

[cbmeeks]

Re: Capital One CC Bites!

man, CC companies are crooks. It feels SOOOO good when you pay one off and call to cancel.