Capital One Visa Business Card Rip off over limit fees Charlotte North Carolina
Capital One is the biggest rip off credit card there is. They increased my interest rate (for what reason they will not say) - which pushed me over my credit limit, then they add an overlimit fee to the balance due - next they take the minimum payment due amount and set it so that even after making the payment they start the cycle over - add interest, then add overlimit fees. Due to a business situation I was in I had set certain cards up so that my finance manager paid the minimum due each month - it wasn't until I sat down a month ago and started going through all my statements that I found they had ripped me off this way for 14 months! What a racket, if I was to do this to my clients I would be jailed here in NJ. I hope that a good lawyer files a class action suit against these thieves. To date I have now refused to pay anything on this card until all fees are reversed or they take me to court. I doubt any sane judge would uphold their method of robbery.
Pete
New Milford, New Jersey
U.S.A.
4 Updates & Rebuttals
Jim
Anaheim,California,
U.S.A.
Pay The Card Off
#5Consumer Comment
Mon, February 16, 2009
You're wasting your time. Everything you've documented is in the agreement when you took possession of the card and began using it and by using the card, you agreed to the terms. If you stop paying on the card, the amount will grow and there's no judge in the world that will force the CC company to reverse the legit fees incurred. If you want to see something sad, just wait until someone runs a credit check on you - sees this credit balance growing - and drop goes the credit score.
No lawyer is going to take that case either because it's a dead-bang loser. Just pay the card off and shred the card after that's done.
Jim
Anaheim,California,
U.S.A.
Pay The Card Off
#5Consumer Comment
Mon, February 16, 2009
You're wasting your time. Everything you've documented is in the agreement when you took possession of the card and began using it and by using the card, you agreed to the terms. If you stop paying on the card, the amount will grow and there's no judge in the world that will force the CC company to reverse the legit fees incurred. If you want to see something sad, just wait until someone runs a credit check on you - sees this credit balance growing - and drop goes the credit score.
No lawyer is going to take that case either because it's a dead-bang loser. Just pay the card off and shred the card after that's done.
Jim
Anaheim,California,
U.S.A.
Pay The Card Off
#5Consumer Comment
Mon, February 16, 2009
You're wasting your time. Everything you've documented is in the agreement when you took possession of the card and began using it and by using the card, you agreed to the terms. If you stop paying on the card, the amount will grow and there's no judge in the world that will force the CC company to reverse the legit fees incurred. If you want to see something sad, just wait until someone runs a credit check on you - sees this credit balance growing - and drop goes the credit score.
No lawyer is going to take that case either because it's a dead-bang loser. Just pay the card off and shred the card after that's done.
J G Shrugged
Austin,Texas,
U.S.A.
You admitted you didn't look at your statements for 14 months. Why is that their fault?
#5Consumer Comment
Mon, February 16, 2009
Did your finance manager pay the same amount every month without looking at the bills?
If so, then it's 100% your fault. There is a judicial concept of minimizing ongoing damages, so after the first month, you could have "stopped the bleeding" by increasing the payment, but you didn't. So, I'd consider that before deciding to hold out for court, since the amount you owe is just going to increase.
If you really plan on court, make sure that you have all of our correspondence from when you opened your account, such as the T&C, etc. I assume you got something in writing that you had a fixed interest rate account, and not a variable one?