Complaint Review: Capital One Credit Card

I received an offer from Capital One Credit Card Company. I already had 2 existing accounts in good standing. On the top of the page it reads: "Get an additional line of credit! This short-term credit line offers big-time savings and more!"

The 1st line of the 1st paragraph states: "Because you're a valued Capital One cardholder, you are invited to save money and get an additional short-term line of credit up to $500-simply by using the attached Select Checks for whatever you want!"

There is nothing in the ad that states I had to have the $500 in an account. It states in the 2nd paragraph: "This temporary line of credit is separate from your existing credit limit. It is an additional line of credit that covers any purchases or transfers you make withthe attached checks.

So I deposited one of the checks into my checking account as it said to do in paragraph 3. Then I wrote checks against it. Ten days later Capital One returned the check which caused my checks to bounce. I called Capital One and customer service they said the amount had to be in my account.

I have contacted my bank who reversed all but one overdraft charge. I also contacted the Federal Reserve Bank which regulates Capital One. I have not heard from them yet.

Joseph
Chicago, Illinois
U.S.A.