What's in your wallet? How about a venus fly trap waiting for poor suckers to wander by...
I currently have a dozen credit cards.in my life I've had at least 50. This is by far the worst credit card bank I've encountered. Their entire business model is this:
1) Rope in new customers by claiming low interest rates, rewards no annual fee
2) Give new customers a ridiculously low credit limit (such as $250 or $500
3) Charging an irreversible $29 "Overlimit Fee" for each and every instance that they go over.
4) Sending bills late to arrive on the 6th of the month, due on the 20th, so that all people who pay bills at the end of the month will get a late fee, unless they make a special effort to sit down and pay their capital one visa bill (very clever)
5) Sending bills 10 days after the end of the billing cycle, thus making the customer believe that their balance is lower than it might be (since it's the balance as of nearly 2 weeks prior). Customer sees low balance and continues using the card, usually going over the pitifully small credit line.
I have never occurred any late or other fees on any of my other cards. With capital one's system, I managed to get dinged for 116.00 in the first 4 months of use. They have a nice little trap set for any poor fool who wanders into their system.
DO NOT LET YOURSELF FALL FOR THEIR "LOW RATES" This is the worst credit card of them all. Talk about "predatory lending". Capital one Visa is worse than any mortgage company, and making 10 times the money.
My prediction, within 5 years they will be subject to a federal investigation and/or named in a class action lawsuit for deceptive practices.
Stay away from Capital One Bank and www.capitalone.com
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