I have learned that Capital One's offering to "help" me rebuild my credit does not really mean that they intend to help me, the consumer. They are planning to "help" their bottom line at the expense of consumers at the lower end of the economic ladder.
I closed my account by phone and in writing six months ago. This was totally ignored. I continued to receive outrageous bills for over limit charges and late payment fees. The face value of the card (meaning any actual purchases) have long been paid off. The entire bill is now way over the credit limit and consists entirely of their fees and charges.
My attempts to work out an agreement with their "customer service" agents have proved fruitless. I have probably spoken to every entry level collections employee in the Richmond office.
All of these contacts have been condescending, insulting, and have usually ended with me telling the caller of the day exactly what I thought of Capital One..."loan sharks" among other descriptions. Any attempts to find out more about the "opt out of arbitration" letter have been met with stonewalling, a change of subject, or silence.
I even offered to pay the face value of the card (s) as a settlement. This was refused, and the "gentleman" I was talking to began speaking to me as if I was retarded.
That did it for me! I have not sent a dime to them in months and do not plan to until a palatable agreement can be reached.
My credit is now fine with the exception of my encounter with Capital One. I will write to every consumer protection agency on the planet if necessary in order to help publicize my experience and maybe help others before they are sucked in by the inuendo and double-speak spewed forth by this company.
I will be more than happy to participate in any legal or other actions that may come about as a result of Capital One's horrifying business practices.
Elizabeth
Charlotte, North Carolina
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