Let's take this one step at a time.
Summer-Fall 1993. I obtained a secured credit card from Capitol One, which was then Signet Bank. I deposited an amount close to $900 for the privilege.
For years, things went fine.
April 30. My card expired. I decided not to renew. I did not see a replacement card and, in any case, did not request one or activate anything. The matter was forgotten. I couldn't charge anything to a "dead" or expired card so I am - I think - in a safety zone.
October 31. I logged on to my old on-line Capitol One account just to be sure that things were settled at zero-balance. To my amazement and surprise, there was an amount due of about $35. I thought I must have forgotten something, as the card had expired exactly six months earlier. But I paid it. And that, I thought, was the end of the story. (I learned later it was a "membership fee").
Late February: A credit check is run on me for purposes of purchasing a house in Colorado. And guess what? There's a black mark against me for $180 unpaid and overdue to Capitol One! What? This is going on one year since the card's expiration date.
March: After several phone calls, I finally got to speak to a supervisor who agreed to withdraw all the charges, saying that they were all (I forget the term) something like "in-house" charges.in other words, they were for Capitol One fees and late fees.By the way, it had accumulated to more than $180 by the time I called. The supervisor, in addition to settling the alleged debt without charge to me, agreed to send me a letter so advising - that for credit purposes. I also asked her about the savings account which, with interest, should be about $1,000 by now. She thought a check had been sent (I never got it) and promised to look into that, as well. She said I should "officially" close my account and I did so on the phone.
March 22. The letter regarding the credit bureau black mark arrived c/o my daughter in Denver with this date on it. It was signed only "LG" and no name was typed below. It confirmed that the credit matter would be resolved in a couple of months (months!!!). It also stated that the writer (on behalf of Capitol One) regretted that I "would no longer be a valued customer." I took that as confirmation that my account was formally closed in every sense of the word. But nothing was mentioned about the approximately $1,000 of my money Capitol One has been holding for nearly 14 years.
April. After waiting for some communication about the savings account and receiving nothing, I called Capitol One again. Immediately upon identifying myself, I heard from the woman on the other end of the line that the call would be recorded for purposes of collecting a debt. A debt? One year after the card lapsed into its expiration, and after I had in my hand a letter confirming a zero balance and a closed account? Yes, they'd smeared my credit again! This time the remedy was to call another 800 number that processed a payment insurance plan tied ot the Capitol One account. I was told that if I reported to them that the card had been cancelled and I no longer needed the insurance they would refund the charge and my balance would again be zero. The insurance firm was cooperative and assured me I didn't have to call Capitol One back. They'd take care of it.
Early May. I called again about the 14-year savings account from which I never got a penny. Believe it or not, I was "in collections" again. Apparently this was for the same card insurance I'd cancelled more than a month ago. I was desperate! I argued with the woman on the other end, and finally agreed to let her do a direct withdrawal from my bank account of about $60 to again put the balance back to zero. I did so under protest. I also spoke to several people (the old Capitol One runaround) until I finally found somebody who assured me I would receive the money in the checking account, mailed in care of my son in Maryland, within two or three weeks. It never came. And Capitol One had again "sicced" a collection agency on me. Another unjustified smear on my credit while they sit on money they owe me.
Early June. Again I called about the savings account and I was told that the money I paid under protest a month before would be refunded. For once, a pleasant surprise. I would get a check for $60.98 exactly. It would be sent to the address of my son in Maryland as I had asked them to do with the larger amount (roughly $1,000). Nothing, however, was resolved about the savings account. I was preparing to drive back to Denver (1700 miles) and didn't have the time or energy then to pursue the matter.
June 26. I made another call about the savings account. A very polite man in India named Patrick took the call and said he only saw a refund of $60.98 which was to be sent to me in care of... And he read off my son's name. Fine. He deals only in credit cards and can't track the savings account. But then, when a supervisor came on the phone, he said that the money would be subtracted from my old "debt" - not mailed to me In other words, I would not get a check for $60.98. I would just get a zero balance. Again!!!
I still do not have the savings matter resolved. But here are my complaints.
(1) Nothing should have been charged to a card that expired, even though I inadvertently paid a membership fee, not knowing it was a membership fee, six months after the card expired.
(2) The reports to the credit bureau were entirely unjustified, as the supervisor and her March 22nd letter stated in reassuring me that the credit report would be cleared up. Further, I officially asked that the account be closed at this point. All reporting to credit agencies and debt collection services were either the result of gross incompetence and negligence or they were a willful attempt to extort money from me that they knew, or should have known, would be disputed.
(3) Capitol One (formerly Signet) has held a savings account in my name for almost 14 years and I am unable to get the money back. I know they have records of the savings account because each year they send the old IRS form Ten-Ninety-Whatever stating the interest earned. And yes, one was issued in early 2007.
I believe that Capitol One has damaged my good credit rating without reason and with malice, and that they have not seen fit to track down my money when I asked that it be returned. I am willing to sue should anyone be interested. I can be reached only by cell phone or email, as I am not now able to receive mail at the house I own in Maryland (my hold limit expired months ago).
Capitol One in your wallet? It's like a tapeworm. It takes and takes and takes, and you have to sweat blood to get it out of there! That's my experience.
Diddley
Lusby, Maryland
U.S.A.
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