Capital One Customers: BewareRecently, when I was considering refinancing my auto loan, I used LowerMyBills.com and received offers from various companies, including Capital One. I hadn't had the best experience with Capital One through my credit cards, but they offered me the best deal, and I had planned to go with them. However, I let the paperwork sit too long, had to have it notarized, and that caused me to again re-think the situation (it would be best to wait and see what happens as far as Nick's job, etc.). Anyhow, today I found this post over at Wenchypoo's Warehouse of Frugal Wisdom... and I am angry.
This exact situation happened to me, at the beginning of this year. I hadn't used my Capital One credit card and was just paying it down. Then I noticed a $4 charge on my statement. I called immediately and was informed that I was sent a letter one or two months ago, and it informed me of the new monthly member charge. If I had a problem with that, I would've had to answer at the time I received the letter. Now I was really frustrated and upset. So it's not okay that I am not alright with this fee right now, but it would've been okay back then? Made no sense to me. I was told (even after speaking to a supervisor) that they had no authority to waive this fee permanently, but they'd waive the fee for that particular month. I was on the phone for 45 minutes plus and got absolutely nowhere, even after threatening that I'd pay off the card immediately and cancel. Capital One did not care ~ they took my bluff, and I followed through with my promise. So now I am angry on behalf of all the other customers, that maybe don't have the ability to do as I did and get rid of the card. Ugh. Another point of frustration for me was that it was obvious that I was speaking to a rep directly from India ~ and it was extremely difficult to comprehend what she was saying.
If you are a Capital One customer, beware. I have also heard many horror stories from close friends and family.
*BTW ~ When I asked the CO rep why the fee was established, her response was "for all the services we provide to you, the customer." By this time I was pretty angry, so I admit I was snotty. I asked her to enlighten me to what those services were, since I wasn't aware. Apparently being able to contact them on the phone, access their website, and access your account 24/7 is something that NO OTHER credit cards offer....