The interest rate on my Capital One credit card was so high that I could scarcely make headway on my balance even when my payments well exceeded the minimum. Thus, my parents opened up a 0% interest credit card for me so that I could transfer my balance and be out of debt by the time I graduated from college.
In November of I transferred my Capital One balance to my new credit card and cancelled my account with Capital One. I relished in the destruction of my Capital One credit card and vowed never to do business with them again. I paid off the new credit card a year ago, and everything has been just peachy ever since, until...
Two years later, in September I received a collection notice demanding payment in the amount of $365.13. The collection agency, ARS, claims to be working on behalf of Capital One, but denies having any information with regard to the alleged debt.
I was advised to contact Capital One directly, which I did. I got transferred and disconnected several times by "customer service representatives" in India who were barely able to understand me or speak intelligable English.
Finally, I was transferred to someone by the name of Abe who refused to provide his last name or the department that he worked for. He gave me a fax number where I can send documentation proving that I paid off the account in November.
Obtaining this information has been an extrodinary fiasco. Call center employees are seldom pleasant and almost never helpful, but those working for credit card companies seem to be the worst. I finally found someone who agreed to send my old statements so that I can prove that I paid Capital One. I am still awaiting these elusive documents.
According to ole Abe, this will allow Captial One to delete my original balance, but not the interest that has accumulated over a two year period.
The ridiculousness of this situation is self-evident. Even if my balance was delinquent (which it is not), why would Capital One wait two years before attempting to collect? In two years, I have not received one single statement or attempt to collect and debts. As far as I knew, my account had been cancelled per my request. I never had any reason to believe otherwise.
To top it all off, the same day I received the collection notice, I also received a pre-approved credit card offer from none other the Capital One! It seems that they are simultaneously calling me a deadbeat and trying to solicit new business from me.
In my opinion, Capital One is a complete scam, designed to prey upon the young and creditless. I have found many other complaints similar to my own online. I have written a letter to dispute the charges and intend to fight it to the end. My advise to all the credit seekers out there: Don't even think about falling for the Capital One rip off. If you already have, save EVERYTHING, especially cancellation paperwork, which you will have to request because they sent me nothing.
I will keep everyone updated as the situation progresses...
0 comments