In Jan I changed my auto ins AND my homeowners/fire ins, but my mortgage co would not make the change!
I knew I had the legal right to make this change.in talking w/the mortgage co, they just sat there refusing to talk, so I said (stupidly), "fine, then I won't send any payments til you make the change".
Unfortunately, in the USA there is NEVER a reason to stop payment on a house no matter what they do to you! Anyway, when Capital One saw that my mortgage company started foreclosure against me, they lowered my limits to enable them to charge me OverLimit fees (and yes, as others on this site have said, they then charge you interest on their bogus fees!).
THEN they began to order magazines and put the bill on my card! No kidding! (Only a moron would order magazines at the rate of $20 a year and put it on a credit card and pay interest on it!) Anyway, I called & told them I did not order nor want these magazines. FOR MANY MONTHS THEY PRETENDED TO NOT COMPREHEND! They pretended they thought I was ordering the magazines!
We argued many times. They offered to discount my balance if I would pay a double payment, etc., anyway, no matter what they promised, they did not follow through! So finally I have now told them that I will not send any more payments unless they make me a decent offer in writing!
IT HAS BEEN WELL OVER A YEAR SINCE I USED THESE TWO CARDS FOR THE PURCHASE OF ANYTHING! In fact, I have only rarely used credit cards in my entire life! If I can't afford it, I dont buy it. I did manage to rescue my house from foreclosure and have been paying a month in advance since September but of course none of the good info goes to your credit rating!
So, when Capital One threatened to ruin my credit rating I laughed out loud. I saw that Sear's has about 40 billion in Receivables, and they are anxious to sell it off to someone at a super bargain price! What does that tell you?
Those in the know are sure that the trillions that are owed by people holding credit cards will never be collected because we are headed for a super-depression. You'd think these stupid credit card companies would want to be nice to a little old lady like me who owes very little, but they have been very, very bad and I will never do business with them again!
Do not keep quiet about your credit problems! Tell everyone you know what is happening to you, and maybe you will save someone else. All my friends, relatives, neighbors, and every govt agency I could e-mail heard every single detail about my mortgage company and that is why I was able to keep my house! Now it's on to expose the rip off from Capital One.
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