Capital One / Guitar Centerno notification of payments

Review updated:

I opened a Capital One credit card through Guitar center for a little but of fun in August. Small credit line and tiny monthly payments made this indulgent purchase palatable for the wife.

All is fine and I register online for automatic payments, however I change banks midway through September and forget to update this banking information on Capital One and therefore miss the first payment. I am very kindly contacted by the customer service team and we set up the new banking information over the phone and also set up the direct debit every month with the customer service lady on the phone. All seems to be fine. Oh by the way send me electronic statements whilst we have her on the phone as this seems much more efficient.

Fast forward to December 24th (today) and exactly 87 days since the last phone call, I have a call from my credit monitoring agency, I have a delinquency 30 day late notice posted to my account today from Capital One. Must be some sort of mistake I am thinking I will give them a call and find out.

Actually no there is no mistake on their end of course! The payment made on 28th of September was a one time payment and they don't even set automatic payments up over the phone. So I have now missed, October, November and December's payments and when I ask why didn't I get a phone call or an email stating that I was overdue or late, their response is "that is not our responsibility to let customer's know they are late or will be reported to the credit bureau. The call that you received on the 28th of September to let you know you were late was a courtesy and you should be grateful we let you know at that time." The guy actually went as far as to suggest I should learn how to use my email properly to check my statements. (FYI - I recorded the hour long conversations with both customer service representatives, I will post that online as it is perfectly legal to do so since as the calls started they inform that calls may be monitored and recorded for security purposes - that works both ways).

Obviously I am stunned with this response. According to Capital One, they were sending me email statements, which whilst technically true is not really that accurate. The email they send you states "Account Statement Available" but you have to login and check. For such a small monthly payment I did not think it was necessary to check every month and actually completely forgot about this account as I was told by Capital One that we had setup the monthly payments.

What blows my mind is that a few days ago, I did get an email which stated I was late on my December payment which I have moved to rectify immediately. Why didn't I get the same email in October and November? I would have taken care of this immediately! Now for a luxury small purchase I am going to pay the price for the next 7 years until this drops off my credit report.

Any other financial institution I have ever dealt with if you are late by a day they will hound me until I get the issue resolved. I was a day late dropping off the mortgage check last month as we came back from vacation late; I had about 50 missed calls when we landed from Wells Fargo and it got sorted out very quickly indeed!
Capital One as far as I can see, want to lure you in with 0% deals and the trick you out of them and into paying their interest and late fee's. I have no problem if that is their game since I will never use them ever again, close my business and personal accounts with them and tell everyone I know what thieves they are. However when they go as far as to report me to the credit bureau's without notification, and in essence completely and utterly destroying my financial portfolio and refuse to accept that there is accountability on both sides, I believe this is quite possibly the worst and morally corrupt company I have ever dealt.

On a final note, the last chap I spoke with was very helpful. He has given me the fax number and address to write to the appropriate people explaining as I have done here. He even told me of a similar story only yesterday where the customer was not receiving statements either by mail or e-mail so didn't know he was delinquent and they still reported him to the credit bureau. What a complete and total bunch of thieves.

It really says a lot when Bank of America customer service can beat another financial institution as well known as Capital One.

What's in my wallet now? Not this company ever again.

Dec 24, 2014
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  • Mk
      Dec 24, 2014

    #1. FYI - I recorded the hour long conversations with both customer service representatives, I will post that online as it is perfectly legal to do so since as the calls started they inform that calls may be monitored and recorded for security purposes - that works both ways.
    ... In fact, this is not true. You can not record most conversations on the phone without fist getting permission in most states. If they inform you that the call might be recorded for security purposes then they may record it for that reason. If you do not want the call recorded then you must let them know. This does NOT give you permission to record the call.

    #2. You chose not to look at the statement they offered AND you did not check with your bank to make sure it was being paid. That is on you as well since the statement more than likely have notations about the lack of payment. This would be them informing you that the payment is over due. I also have been late 1 time with my mortgage in the last 26 years and they sent me a notice the next day. NO PHONE CALLS, NO PEOPLE STOPPING AT MY HOUSE...Just a statement saying it was late.

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  • Ri
      Mar 18, 2015

    Same thing just happened to me. We made the mistake of paying once we received the invoice via mail. Well we checked all over the house looking for mail from them.. We did get promotional email, but for going on three months now, mailed invocies (bills) have mysteriously stopped coming. I could see us misplacing one, but NOT three. We have pretty darn good credit and stay on top of it all as best as we can to avoid 30 days late payments ruining our credit. Capital One waited until we were already more than 30 days late before sending an email that we were late, and the email didn't even mention that the prior month's payment was past due more than 30 days!..It is clear to me that Capital One has a business model to make tons of money by figuring out ways to trap customers into owing late fees. Of course they are not to blame but when one sees how others financial institutions stay in contact and notify customers only a few days past due, this is clearly not a company one wants to deal with.

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