Capital One review: Capital One Mastercard

On October 19, 2023, I used my Capital One Mastercard to make a purchase on the Facebook Marketplace from a seller that accepts payment through Venmo.

When I went online today to make my monthly Capital One payment (following the deposit of my Social Security Disability Income), I found what I believed to be an incorrect assessment of a $10.00 "cash advance fee".

I called Capital One for clarification, and was informed that any purchases through Venmo are considered a "cash advance" and - in addition to the $10 fee (or 3% of the amount, whichever is the greater) - an interest rate in excess of 30% would apply, which continues to accrue until the cash advance is paid.

When I asked if there was an avenue to specifically pay the "cash advance" amount, I was told there was no way to do so except to pay off the entire credit card balance of $4,997.00 (out of a $5,000.00 limit).. and that the 30%+ interest would also be charged and continue to accrue ON THE $10.00 CASH ADVANCE FEE itself!

I requested to speak with a supervisor, and asked that - as I subsist on a social security disability income - perhaps Capital One might extend a one-time compassionate consideration and at least waive the $10.00 cash advance fee (since I was unaware that processing a Capital One charge through Venmo was considered a "cash advance", nor that I would incur such outrageous fees and interest charge), I was advised that they "had no way" to do so, and was summarily dismissed.

I will never again use my Capital One credit card for ANYTHING "cash-advance" related, and will do everything within my ability to pay down the entire balance without incurring any further charges, and ultimately reserve this account solely for emergency situations, or close it altogether.