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Capital One / unauthorized billing

1 United States Review updated:
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Just received in the mail a notice that my credit card interest rate is being raised to 29.4% and I am never late on my payments. This is criminal that these Banks/Credit Card companies can do this to their good customers after they received Government Bailout Funds from the Taxpayers of America. I plan on paying this off, hard to immediately though cause I am unemployed, and canceling this card. I am sick of the Corporate Greed in this country and upset that the banks and credit card companies are GETTING AWAY WITH IT!!!

Ji
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Comments

  • Va
      22nd of Jul, 2008
    0 Votes

    I went over the limit by accident for the first time (someone put a charge on I wasn't expecting). I paid the minimum due over the phone which I thought was okay. I made no new charges. The next month I was over limit again because the finance charge was added to my balance, an over limit fee and a phone fee was added. I paid more than the minimum ($23.30 more).

    I was over limit again the next month because the finance charge of $24.89 was added. Again, another $39.00 charge. If I pay the minimum due this month, I will again be over limit. I know this is morally not right, but is this legally right? I will pay way over the minimum due this month to get out of this cycle, but this makes me mad.

  • Va
      31st of Oct, 2008
    0 Votes

    Capitol One Credit Cards billings are manipulated and charged over the limit fees when accounts are not over the limit. The over the limit charge does however take you over the limit and hense another over the limit fee is then charged. This has been happening the past couple of months since I called asking the my interest rate be reduced. I was told it would be if I had no over the limit fees.

    I have watched my statement carefully online and just checked the statement a couple of days ago and still had a small available balance. My credit limit is $5, 000. My balance now is $5, 021.76. It went over the $5, 000 limit when the $39.00 over the limit fee was charged on 10-25-08. Look at the balance and when the only recent charge was the $39.00 to see that my balance couldn't have been over the limit when my account was accessed the $39.00 fee.

    I like other Americans are struggling to keep up. I try and make more than a minimum payment every month. These type of company practices are what has helped put this country and our economy in the state it's in. Why isn't something being down to stop them.

  • Ke
      9th of Feb, 2009
    0 Votes

    I have a capital one master card.I made a over the phone payment so it wouldn't be late. I wanted to use my debit they said we can't do that you have to use a check.Which they charge $15 to do. So I gave the girl my check # and she wrote the wrong # down.A week later I get a letter saying this is an invalid account.So I call capital one back and tell them they wrote the wrong check # down.So they had me do it again don't they write the wrong # down again. A week later the fraud department calls me.She tells me to call her back tomorrow.I called 29 times left 6 messages and this lady will not call me back.Than shortly after that I get a letter in the mail from capital one saying they have been trying to reach me to take care of this which they haven't.So I call again get the voicemail leave yet another message begging her this time to return my call.She never did so I filed a report with the bbb. That $97 payment owed is now a $300 plus payment.

  • Ad
      21st of Mar, 2009
    0 Votes

    That sounds like a change in terms. I would call Capital One to clarify what is changing before you get more upset. Also Capital One credit cards hasn't gotten any government money like other banks have. Capital One doesn't do mortgage loans like other banks so, there is no financial strain on them like a regular bank. Change in terms like the one your got are not credit risk associated, so no fear there of that being the reason for the increase. Also as bad as this sounds, your good payment history would not prevent a change in terms.

    The right to change your terms is in your orginial terms as that annual fee most likely was. As far as the annual fee goes, sometimes it can be waived, but considering the economy and the fact that the fee pays for the mantainence of your account, it's unlikely you will have the fee waived this year. If you have ever had it waived before, you are fortunate and should look at the years you have had the account, take the fee amount and divide it by the times you have had the fee waived...then the overall cost of your card is very minimal.

    If you have not opted out of the change in terms yet, I suggest calling Captial One to get clarification on the change before you opt out.

  • Em
      30th of Mar, 2009
    0 Votes

    29.4% is your new default rate, not your purchase APR. Read your letter again, or call in to have it clarified for you. I would hate to see you close your account over an APR you may never see (if you pay your monthly payments on time, etc...)

  • No
      12th of Jun, 2011
    0 Votes

    you only go to 29.4 if you are late twice in 12 months.

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