Opened an account in Dec. Paid my first bill on 12 JAN and because I made a purchase that was pending after the initial payment, I again paid the remaining balance on 17 JAN. Credit One Bank says that both payments were returned. My personal bank stated to me that Credit One Bank failed to process these payments, that they left them in pending status, and simply never processed their charges. Credit One Bank closed my account due to returned payments at that time. I called them on the phone, and paid it again today, 20 JAN using my debit card, which cost an additional $9.95, and verified with an agent on the phone that this would zero my account and it would remain closed. This company has a logo very similar to Capital One Bank, and I believe they prey on people with poor credit, who would otherwise have no options for credit. I do not have the best credit, and applied to their mailing, thinking it said Capital One, which is my own fault. However it is very deceptive to have a logo that is so similar to another companies. It is my hopes that they do not mark my credit report in any negative way, as I have worked very hard over the last few years to repair and maintain my credit. I have read several people online who have had exactly the same problem, returned payments, when they too stated there was more than enough money in their accounts to cover the payment. I believe this company is practicing in a very deceptive manor. When I asked for an explaination of the returned payment, they said I would have to wait 7-10 days for a letterin the mail to find out. They stated all they know is that the acct. Number I provided for my checking acount was incorrect. If this is the case, why would both payments had been pending on my checking account for days? If in fact it was a wrong acct number it would have never been posted on my bank acct statement dont you think? My bank is investigating this and providing me with a written statement of the facts in case this company attempts to charge me any more fees, or fails to close my account as requested.
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