My husband recently closed his Kmart Mastercard, issued by Capital One, because no matter how many payments of $100 on a balance of $500 the card was not getting paid off. If they recieve a payment ONE day late, there's an extra $29 added on to your balance. We figured that as long as the payment is postmarked by the due date, we were okay. WRONG! That's where they get you!
After we cancelled the card, the next statementt showed a "membership fee" of $4 that would be added to the balance each month until the card is paid off. This is BS! I read the fine print and this was included but the fine print did not say anything about intrest rates increasing! That's right his intrest rate went up after he cancelled the card! I thought that by law we were required to have notification when they decide to increase the intrest rate. We did not receive any phone call or written letter stating the increase.
Capital One are terrible, greedy pigs that do not deserve the business of anyone. If you have a Capital One card, destroy it and never do business with them again! All they want is your money and they will add "fees" and other nonsense to STEAL YOUR HARD EARNED MONEY!
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