Capital One outlandish ripoff late fees deceptive company the business that doesn't give a dam richmon Virginia
After reading other storys I know that capital one is the one with a problem and not me,I too am over the limit on two capital one cards that I can't use. every time I pay one down to below the limit I get charges for a travel plan and a yearly fee which puts me over the limit again.
Then I get hit with the over the limit fee and a late payment fee, needless to say I will never pay this off, I never authorized the travel plan nor did my wife and yet it is consistantly costing me 79$ every couple of months.
I tried to cancil the card or just put a hold on so that no other charges could be added but no I have to pay the full amount before they will cancil my cards
Andy
Grants Pass, Oregon
1 Updates & Rebuttals
Ed
Galveston,Texas,
Class action suit recently certified
#2Consumer Suggestion
Sun, March 17, 2002
A nationwide class action was recently certified in Galveston, Texas against Capital One for similar overlimit fee complaints. Other claims are pending. In our investigations, we discovered that when cardholders try to cancel, Capital One refuses the offer, and demands payment of the entire balance.
In my opinion, the typical Customer Agreement used by Capital One since about 1997 does not allow the imposition of fees when the cardholder cancels the contract. Judge for yourselves:
"If You Close Your Account. You can close your account by notifying us in writing. If you close your account, you must still pay all amounts you owe us and will be responsible for any charges that you authorized prior to giving us your notice. It there is a membership fee for your account, the fee will continue to be charged....until the account balance is paid in full."
Note that this provision expressly omits reference to paying fees other than the membership fee, or that your obligations under the Customer Agreement continue after you terminate the contract.
Now, contrast that with the provision under which Capital One may cancel the contract:
"IF WE CANCEL YOUR ACCOUNT OR SUSPEND CREDIT PRIVILEGES...your obligations under this Agreement continue after your rights to obtain credit have been terminated or suspended."
Therefore, I suggest immediately notifying Capital One in writing, by certified mail return receipt requested, that you are cancelling all accounts with them. Be advised, however, that they interpret their own contract in the light most favorable to themselves. (Whatever happened to the customer always being right?)
Also be advised that they may institute collection proceedings against you to run up your costs.
Good luck.