Capital One
Misleading preapproval and late-payment reporting damage credit

I recently tried to finance a car. I was declined. When I checked my credit report, the big red flag was Capital One.

A few years ago, I received a letter from Capital One stating that I was preapproved for a credit card "up to" $5,000. When I got the card, The credit limit was only for $200.

Point #1 - Very misleading advertising, but not illegal.

At the same time I had that card I had two other credit cards, one from Citibank and another American Express with credit limits of $12,000 and $10,000 each. I never paid any of those late, but somehow Capital One found me late on three occasions.

Perhaps that is because I would pay on time but they still found ways of charging me fees. When I left the country I was late on the payment of these fraudulent fees. They never tried to contact me to tell me I was late. Eventually, I just paid it off and closed the card.

They never tried to contact me to tell me I was late.

Unfortunately for me Capital One is completely ruining all my chances for purchasing a car or a home. They made plenty of money off of me but they are not satisfied until they have fully screwed the customer.

I have recently heard from three friends of mine further disgusting stories of how Capital One has charged them fraudulent fees and messed up their credit.

I understand they make money from fees. But screwing a customer for the next seven years is an outrage and completely immoral.

I wonder, if we did a credit report search if Capital One didn't show many more late payments than any other credit card issuer. I am very interested in pursuing a class action law suit against Capital One.

Company: Capital One
Country: USA
State: Virginia
City: Richmond
Address: PO Box 85015
Phone: 8009557070

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