Capital One Credit
Fraudulent loan offers for existing card holders

Like other complaints here, I found them despicable in their offers and tactics to bilk customers out of money.

I was a long time holder of their credit card. And had an online Money Market Account that I closed after I found it could not be used for cash advances in different cities I travel to.

The "straw that broke the back" was their insulting customer service reps... And the final coup de gras was their notice of raising my regular charge rate to 29.99%.. And I have not had any balances on account for two years.

Tane there as an offer in the mail for a signature loan at a low interest rate. Since I had done this a couple of times over the past 10 year with them I sent in a application and was approved for double the rate quoted. Now you to know that my FICA and other aspects of my credit history are impeccable.

I owe no one one. Having no debts. Own my own home free and clear of mortgages, I decided to borrow a few thousand for a major purchase... At low rate for duration. "until paid off"... Did this before with them in the past, always paid back within a year and thus went for it again. But the loan approval was double rate. I contacted them and they said "tough" take it or leave it. I left it. I did write to their VP and asked for explanation. He replied virtually same answer. Even I tried to point out they were fraudulently advertising loans that were not prepared to make... I subsequent canceled all accounts we with them... Today I got a bundle of instant loan checks in the mail at "0" APR for 12 months. But won't use them as they will no doubt bounce. Since account is closed. Thus GE is out of control. No real management. Or even concern for reliable credit worthy customers. Hope they go bankrupt. They are the living legacy of John "Jack" Welch, Jr, former CEO of General Electric between 1981 and 2001. He was ruthlessly dedicated to profit taking no matter how. His legendary approach is still being taught in management schools. Buyer beware!

Company: Capital One Credit
Country: USA
State: Virginia
City: Richmond
Site: capitalone.com

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