Capital One Credit Cards
Capital One, during the pre-Christmas season of 2006, sent its card holders an offer promising "extra cash" and a "hassle-free holiday". Capital One enclosed blank checks with this promotional material and advised its cardholders to "give yourself what you really want. Take advantage of no transaction fees - and a rate on checks and transferred balances that starts low and actually gets lower with time."
Capital One advertised a starting rate of 5.99% fixed APR with this offer; and after October 2007, that the rate would drop to a 4.99% fixed APR.
While the cardholders were told they would receive these low APR's in connection with these check transactions, they were not advised that payments would first be applied to the outstanding balance from these check transactions, while their regular purchases would continue to accrue interest charges at a much higher rate and that no payments would be applied to the transaction balance until the balance incurred from using the checks was paid in full.
Capital One Credit Card Articles
Consumers Complain: Hands Off, Capital One!The Better Business Bureau has processed a total of 6,183 complaints about Capital One in the last 36 months. It reports numerous claims from consumers.
Capital One: Usurious Interest Rates
Linda Beecham was pressured into buying a Capital One credit card several years ago. She paid off the amount owed but they are still charging her over $1,000 in interest - on a $200 balance.
Capital One Credit Cards Hassle
If you received checks from Capital One over the holiday season, with the encouragement to use them for a "hassle-free holiday," you may have been roped into paying higher interest rates than you should have, without realizing it.
Capital One Credit Card Legal Help
If you or a loved one has suffered damages from Capital One Credit Cards not properly disclosing payment terms for their 2006 Christmas season blank check promotional offer, please click the link below to send your complaint to a lawyer to evaluate your claim at no cost or obligation.Last updated on
READER COMMENTS
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I wrote to the company and it did no good at all. I wrote to the OCC and typically, they did nothing. Capital One used to be in Virginia (maybe Virginia kicked them out because of all the complaints?) and now they are in Utah. I wrote to the State of Utah about them too.