Capital One Bank - NA Cancelled my credit card account for no good reason, causing a hit to my FICO score! Salt Lake City Utah
In March of 2008, Capital One sent me a letter regarding my credit card account. It read as follows:
As a valued Capital One customer, you qualify for free upgrades to your credit card including the following:
* Start earning No Hassle Rewards (or earn them faster)
* Improve other card features
* Lower your APR
In May of 2008, Capital One sent me another letter as follows:
After conducting a periodic review of our existing customers, we noticed that you haven't used your Capital One credit card in the past 36 months. Because of recent lack of activity, we're letting you know that we have closed your credit card account.
I have not used the Capital One credit card because they have not sent me a current card and because they are consistantly the HIGHEST INTEREST RATE and lowest credit limit out of all my credit cards.
I had repeatedly called requesting that they lower my interest rate or increase my credit limit, but to no avail. My other credit card companies consistantly do both and are extremely competitive, offering me regular credit line increases and extremely low down to 0% interest rates.
My complaint is this; when a credit card company closes your credit card account, it negatively affects your credit score. When I called them regarding this, I was told by Theresa, a Senior Accounts Rep, that it would indeed lower my credit score, but by just a few points. They acknowledged that this course of action would negatively impact me and they simply do not care!!!
Capital One is the only credit card I have EVER had in my life that has canceled me. They make no apology for what they are doing! Please help me to devise a plan of action I can take against Capital One.
To all consumers out there, PLEASE be wary of doing business with CAPITAL ONE! They have a very catchy come on and cute commercials, but THEY ARE NOT CONSUMER FRIENDLY! Use them at your own risk!
Just
SomewhereIn, California
U.S.A.
13 Updates & Rebuttals
Kj
Cass Lake,Minnesota,
U.S.A.
i have captial one
#14Consumer Comment
Tue, May 06, 2008
i have capital one and i've had no problems with them, in fact they were nice enough to change the bill due date to what i wanted it to be
Nikki
Coconut Creek,Florida,
U.S.A.
Hope this makes you feel better.
#14Consumer Comment
Tue, May 06, 2008
Same thing happened to my husband. We have Score Watch and it only lowered his score by 4 points.
John
Califon,New Jersey,
U.S.A.
Yeah, ya got nuthin'
#14Consumer Comment
Tue, May 06, 2008
Your tirade and 'must work for them' is an easy mark that you have no clue. You stopped using the card and they closed it. Big deal. I have absolutely no problems from Capital One. So what about anything they advertise. It doesn't relate to your or your situation so it makes no sense to even bring it up. But, of course you need to since you got nuthin'.
John
Califon,New Jersey,
U.S.A.
Yeah, ya got nuthin'
#14Consumer Comment
Tue, May 06, 2008
Your tirade and 'must work for them' is an easy mark that you have no clue. You stopped using the card and they closed it. Big deal. I have absolutely no problems from Capital One. So what about anything they advertise. It doesn't relate to your or your situation so it makes no sense to even bring it up. But, of course you need to since you got nuthin'.
John
Califon,New Jersey,
U.S.A.
Yeah, ya got nuthin'
#14Consumer Comment
Tue, May 06, 2008
Your tirade and 'must work for them' is an easy mark that you have no clue. You stopped using the card and they closed it. Big deal. I have absolutely no problems from Capital One. So what about anything they advertise. It doesn't relate to your or your situation so it makes no sense to even bring it up. But, of course you need to since you got nuthin'.
John
Califon,New Jersey,
U.S.A.
Yeah, ya got nuthin'
#14Consumer Comment
Tue, May 06, 2008
Your tirade and 'must work for them' is an easy mark that you have no clue. You stopped using the card and they closed it. Big deal. I have absolutely no problems from Capital One. So what about anything they advertise. It doesn't relate to your or your situation so it makes no sense to even bring it up. But, of course you need to since you got nuthin'.
Just
SomewhereIn,California,
U.S.A.
RE: Roberts rebuttal
#14Author of original report
Mon, May 05, 2008
Hey Robert....bother to read the whole complaint? I have several open credit card accounts for decades that have never been closed because of none use. Also, Capital One did not send me any warning or heads up, just a sent me a letter AFTER they closed it.
DO YOU WORK FOR CAPITAL ONE??? Evidently you are not aware of the fraud that they are committing right now as I write this. They are advertising "Low Interest" rates to get new customers. Then, they change the rate to a much higher one even though they are claiming to be fixed! I just read an article about how they are being investigated.
I am glad to be rid of them, but I will never stop warning people about their harmful practices. And YES, they have not sent me a new card in years, so I wouldn't have been able to use it even if I wanted too. You just made yourself sound like an idiot or a company man. Any time a consumer if harmed because of a company constitutes a "rip off", and others should be warned.
Just
SomewhereIn,California,
U.S.A.
RE: Roberts rebuttal
#14Author of original report
Mon, May 05, 2008
Hey Robert....bother to read the whole complaint? I have several open credit card accounts for decades that have never been closed because of none use. Also, Capital One did not send me any warning or heads up, just a sent me a letter AFTER they closed it.
DO YOU WORK FOR CAPITAL ONE??? Evidently you are not aware of the fraud that they are committing right now as I write this. They are advertising "Low Interest" rates to get new customers. Then, they change the rate to a much higher one even though they are claiming to be fixed! I just read an article about how they are being investigated.
I am glad to be rid of them, but I will never stop warning people about their harmful practices. And YES, they have not sent me a new card in years, so I wouldn't have been able to use it even if I wanted too. You just made yourself sound like an idiot or a company man. Any time a consumer if harmed because of a company constitutes a "rip off", and others should be warned.
Just
SomewhereIn,California,
U.S.A.
RE: Roberts rebuttal
#14Author of original report
Mon, May 05, 2008
Hey Robert....bother to read the whole complaint? I have several open credit card accounts for decades that have never been closed because of none use. Also, Capital One did not send me any warning or heads up, just a sent me a letter AFTER they closed it.
DO YOU WORK FOR CAPITAL ONE??? Evidently you are not aware of the fraud that they are committing right now as I write this. They are advertising "Low Interest" rates to get new customers. Then, they change the rate to a much higher one even though they are claiming to be fixed! I just read an article about how they are being investigated.
I am glad to be rid of them, but I will never stop warning people about their harmful practices. And YES, they have not sent me a new card in years, so I wouldn't have been able to use it even if I wanted too. You just made yourself sound like an idiot or a company man. Any time a consumer if harmed because of a company constitutes a "rip off", and others should be warned.
Just
SomewhereIn,California,
U.S.A.
RE: Roberts rebuttal
#14Author of original report
Mon, May 05, 2008
Hey Robert....bother to read the whole complaint? I have several open credit card accounts for decades that have never been closed because of none use. Also, Capital One did not send me any warning or heads up, just a sent me a letter AFTER they closed it.
DO YOU WORK FOR CAPITAL ONE??? Evidently you are not aware of the fraud that they are committing right now as I write this. They are advertising "Low Interest" rates to get new customers. Then, they change the rate to a much higher one even though they are claiming to be fixed! I just read an article about how they are being investigated.
I am glad to be rid of them, but I will never stop warning people about their harmful practices. And YES, they have not sent me a new card in years, so I wouldn't have been able to use it even if I wanted too. You just made yourself sound like an idiot or a company man. Any time a consumer if harmed because of a company constitutes a "rip off", and others should be warned.
Robert
Irvine,California,
U.S.A.
No Reason?
#14Consumer Comment
Mon, May 05, 2008
They closed it for No good reason? NO they closed it because you did not use the card for 3 years.
Your reason why you are claiming you did not use it does not make sense. If it is because of high interest rates, you would not have used it even if they did send you another card. If you constantly called them asking for a lower interst rate, why did you not ask for them to send you a new card?
By the way the interest rate only matters if you keep a balance. If you pay it in full every month you don't get charged any interest.
There is no Ripoff here.
Robert
Irvine,California,
U.S.A.
No Reason?
#14Consumer Comment
Mon, May 05, 2008
They closed it for No good reason? NO they closed it because you did not use the card for 3 years.
Your reason why you are claiming you did not use it does not make sense. If it is because of high interest rates, you would not have used it even if they did send you another card. If you constantly called them asking for a lower interst rate, why did you not ask for them to send you a new card?
By the way the interest rate only matters if you keep a balance. If you pay it in full every month you don't get charged any interest.
There is no Ripoff here.
Robert
Irvine,California,
U.S.A.
No Reason?
#14Consumer Comment
Mon, May 05, 2008
They closed it for No good reason? NO they closed it because you did not use the card for 3 years.
Your reason why you are claiming you did not use it does not make sense. If it is because of high interest rates, you would not have used it even if they did send you another card. If you constantly called them asking for a lower interst rate, why did you not ask for them to send you a new card?
By the way the interest rate only matters if you keep a balance. If you pay it in full every month you don't get charged any interest.
There is no Ripoff here.