My experience with Capital One was unacceptable. When the email was received soliciting the Auto Blank Check program, I became interested. I responded by completing the initial application. The following email stated that it had been approved. The email further stated that I needed to forward two items. The first, a copy of identification, and the other proof of salary. I faxed this information to Capital One that same day. I followed up with a call to Capital One to confirm they had received everything. They did validate all items were received. On October 31 the Blank Check had been sent with a limit of $13,200.00. On November 2, I received the Blank Check in the mail. The packet contained the loan contract and a credit report Snapshot. Based on the path of emails, telephone conversations and the receipt of the actual check, I was lead to believe I would be able to shop for a new vehicle. TWO WEEKS later, I get a call from Capital One stating they need additional information I returned the call just to be told that they were not able to verify my salary. I asked what method they used. I said that they had received three months of payroll confirming my yearly salary. They said they had called my employer and were off by 230.00 per week. I went to my HR department and verified through phone logs that no call had been made from Capital One. They had willingly lied to me. I asked them to please tell me who they verified it with or the number they called, and this could not be provided. I was than told that my debt to income ratio was too high. How could they make that determination if they could not verify salary? This is a bait and switch practice where you are lured in by a deceptive promise. Why would they feel the need to send a Blank Check that you could use (up to a defined limit of course) just to be told 2 weeks later that they have found reasons to no longer keep the offer they had originally made. Because of this, I feel it necessary to file complaints with my states banking department as well as consider additional options to warn the consumer about this scam. I will never do business with Capital One and I will always make sure I do my best to prevent anyone else from making the same mistake.
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