Stay away from Capital One Bank. They are CROOKS of the worst kind. They offered me a card with a 2,000.00 credit limit. This was an unsolicited offer, which I did not apply for. I was foolish enough to accept their offer.
When I received the card from them, I just kept it handy in case I needed to use it. What I did'nt realize is that Capital One was charging me an annual fee, in $6.00 monthly installments, even though I had not used the card. When I finally did decide to use the card, it was rejected.
I called their customer service number and explained that their card was rejected. They told me it was because I had not paid the $6.00 monthly installments on the annual fee. I told them I had'nt even used their card yet. After I told them I was unaware I was to pay monthly installments on the annual fee before using their card, they agreed it was just a misunderstanding, and said they were going to re-activate the card with the original credit limit of $2,000.00.
Then, after using the card and charging about $700.00, I was sent a letter from one of their management people that said "effective immediately, your credit limit has been lowered to $500.00."
It went on to say that I had to immediately pay any amount over the new credit limit. I called them again, and tried to explain that I had talked to them previously about the $6.00 monthly annual fee, and they had agreed to re-activate the credit card with the original credit limit of $2,000.00, as it was due to a misunderstanding. I have carried one or more of their cards, since 1998. I am quite tired of Capital One playing games with my credit limit.
I beleive Capital One's purpose in playing with people's credit limits, is to collect "over the limit fees", and "late charges", which in Capital One's case, are outrageous anyway. I have other "GOOD" bank credit, and should never have done business with Capital One. My advice: Stay away from Capital One's credit cards, and if you already carry one, pay it off, and cut it up into a hundred peices. One other thing; Capital One is still adding annual fee charges onto one of their cards I had, even though the card expired 6 months ago.
Sandra
Lincoln, Missouri
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