Capital One
Misleading grace period and double overlimit fees, with disputes unanswered since 1999

Over 23 consumer complaints on this web site as of 8-26-00

Capital One is a credit card company that exploits those with Credit circumstances. They send you a Pre-approved offer targeted at those who are "slow Pay' (not no pay credt deadbeats) and mislead you in regards to their 25 day grace period then mislead you in what amount to pay if your near your limit to avoid an overlimit fee.

Capital One's 25 day grace period is misleading compared to those of other companies. Other companies will bill you and state a due date of 25 days past the billing date as the date to pay prior to being charged interest. Capital One states their due date on their cycle date, therefore if you pay your payment by it's due date you're already late. Furthermore their stating that the overlimit fee is $29 is misleading.

If your card goes over limit in one period, you will receive your bill stating that then be charged a 2nd overlimit because it went into the next cycle. So the real overlimit fee is $58. Also, they have designed their billing procedures to add a late charge after the cycle date, that way if you pay the minimum due on a bill, the late charge may set you over your limit thereby adding an additional $58 to your account.

I have been disputed incidence like these since July of 1999, I have yet to receive a timely response that addresses the issue. I have 5 documented breaches of the Fair Credit and Billing Act and tape recorded conversations of their customer service representative purposely (or directed by their managers policy) to misstate the correct amount due to incur additional late charges.

Stay clear of Capital One period.

... Thank you Letter

From: Mark S. Etters [SMTP: [removed]]
To: info@usacomplaints.com

Subject: Capital Credit ripoff
Sent: 1/1/97 12:01 AM

Thank you for having this forum. I recently received approval for Gold Card 15,000 with no interest the first year.

I thought it sounded too good to be true, checked the web, sure enough, listed here as a rip off and no where else.

Thanks!

Capital Credit
20331 Irvine Avenue E3
Santa Ana Heights, CA. 92707

M.E. TN.
[removed]

Company: Capital One
Country: USA
State: Virginia
City: Richmond
Phone: 8002621493

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