Capital One Bank
Replacement Debit Card Required Credit Selection and Declined

I lost my Capital One debit card so I called to cancel it and order a new one. When I received it, it had a sticker on it instructing me (the user) to respond "credit" when the merchant asks "credit or debit". I didn't think much of it until I tried to use it the first time as a debit card like I always have, and the transaction was declined even though there was money in my account.

Since I was once a merchant who accepted credit cards, I immediately recognized that this new policy was designed to make more fees for the bank since merchants pay a higher percentage on credit transactions than they do on debit transactions.

I called the bank to complain and they told me that there must be a problem with the PIN number on my new card, even though I personally entered it into their system when I physically went into my local branch to get my replacement card ordered.

This new policy (scam, trick) also cost me money since some of the merchants I frequent offer a 5% discount for cash/debit card transactions.

When will the greedy mofos stop ripping people off?

Company: Capital One Bank
Country: USA
State: Texas
City: Houston

  <     >