- Report: #469290
Complaint Review: Capital One - Richmond Virginia
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Capital One
15000 Capital One Drive, Richmond, 23238 Virginia, U.S.A.
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Capital One Raises Interest Rates in Bad Faith - Seek Class Action Richmond Virginia
After being a loyal customer to Capital One, I had my APR raised to over 22%. Capital One claims to have sent a change in my terms of service and, as such, refuses to lower my interest rate to it's previous level. In an e-mail response, Capital One says this change was due to "changes in the interest-rate environment or other business circumstances". They also point out that the Customer Agreement reserves the right to make changes to my account as long as "we provide you written notification" before making such changes.
Since I never received this notice, Capital One failed to "provide" me with such. Simply mailing the notice does not mean it was provided to me. The upper level representative that I spoke to told me it was noted on my account that the notice was mailed in February. It could also be noted on my account that I was a Siberian Husky but that would not make it true. Further, I believe Capital One has acted in BAD FAITH in the execution of the Customer Agreement.
I believe the interest rate increases are in response to legislation scheduled to take effect next year which would specifically prevent them from doing just this. I believe Capital One is raping their customers now because they can't rape them later. I believe this constitutes BAD FAITH and, therefore, carries malicious intent. I believe there is evidence here for a CLASS ACTION against Capital One.
Jamie
Venice, California
U.S.A.
Since I never received this notice, Capital One failed to "provide" me with such. Simply mailing the notice does not mean it was provided to me. The upper level representative that I spoke to told me it was noted on my account that the notice was mailed in February. It could also be noted on my account that I was a Siberian Husky but that would not make it true. Further, I believe Capital One has acted in BAD FAITH in the execution of the Customer Agreement.
I believe the interest rate increases are in response to legislation scheduled to take effect next year which would specifically prevent them from doing just this. I believe Capital One is raping their customers now because they can't rape them later. I believe this constitutes BAD FAITH and, therefore, carries malicious intent. I believe there is evidence here for a CLASS ACTION against Capital One.
Jamie
Venice, California
U.S.A.
2 Updates & Rebuttals
Ashley
Springfield,Missouri,
U.S.A.
Huh?
#2Consumer Comment
Wed, August 05, 2009
"" Simply mailing the notice does not mean it was provided to me. "" yes, it does mean it was provided to you. How else should they get it to you? "bad faith" is unimportant. They have the legal right, under the contract you signed, to set the rate they deem fair on your account. You have the legal right to cancel service with them if you do not like the terms of the deal. You do not have a right to a credit card. Nor do you have a right to a credit card with a good rate. Yes they are doing this in advance of the new legislation. The new legislation is not outlawing rate hikes, it will just make it take longer to hike your rate.
Steph
Minor Hill,Tennessee,
U.S.A.
Heres what you need to do
#3Consumer Comment
Wed, August 05, 2009
Call Capitol One and tell them you are cancelling your card. I used to have thier credit card and they are a total rip off. If some credit card raises my rates I would cancell it
