“ Credit card. „
I decided to take up a capital one credit card after it was recommended by Martin Lewis on his moneysavingexpert website for the 1% cashback on any purchases when it was used. Up until then I had been using debit card all the time and I figured that this would provide added protection to all my purchases, while paying it off monthly meant it was the same as a debit card but I would earn 1% every month..... The 1% is added up and paid in January - well, it is taken off the balance of your January statement.... Which is good I suppose... My issue isn't so much with this aspect of the t&c's but I feel the credit limit I have is hugely inadequate given the amount I use the card and compared to my earnings.... I have a credit card with Halifax which is more than 8x the credit limit of this one, and when I have asked for the limit to be increased as I was regularly overstepping it and having to make mid-monthly payments, I was swiftly told that I can either leave or deal with it. When asked what happens to the accrued cashback they told me that that would be lost because I had decided to leave - even though I was calling to see me overstepping my credit limit could be avoided.... I guess I should thank Capital One because I have made myself use this as my main card, but I HAVE to check my balance before using it, or have to transfer funds across.... One thing I do not understand is how I am to pay for larger items. I thought I would be able to transfer more funds onto the card so that I exceed my limit available, allowing me to make larger purchases..... I have recently been involved in the renovation of a house so need to make large purchases quickly.... Well, according to Capital One I can't do that either... I have to spend up to my credit limit, pay that off (48 hours at least for the payment to show) and then use it again...... For the sake of a 1% cashback which I wont see for many months it's a lot of effort and work.... But for now, for daily transactions it seems ok which is why I am still undecided (title).... I hope other people get on with it better!!!
Several Months ago my family and I went on a small trip to Vegas. I rented a car from budget rental using my Capitol One Platinum Card. I have never had an issue with either company until now that is. After having a great time on our trip it was time to return the rental. When I arrived at the rental shop they were already closed. They had chosen to close early that day. I returned the car any way putting the keys in there over night return as I did not want to be charged for an additional day. Thinking it was over I went on with my life. A month later I recieved my statement and was shocked to see that budget had charged me for the additional day any way. I immediatly filed a dispute with Capitol one regarding an amount of 37.73. I was very happy to see on my next statement that they had corrected budgets error and returned the 37.73 and I also at that time notified budget why it was returned as a disputed charge being that there doors were closed 45 minutes early making the charge a fradulant charge as I had returned the car on time. So here I am thinking that Capital one is a great company that really cares about its customers. Then I try to use my card to pay for dinner for my family and I and its declined. Talk about being embarassed by this. I am livid as I get home and log in to see that Capitol one has recharged my card for the total amount of the rental car. Putting me over the limit and making what should be an avialable balance got into the negitive. Well as I am looking at there online statement I see several things that have happened due to this over charge that is a mistake on Capital ones part. The first is the over the limit fee that has been charged to my card. The second is that my monthly payments have now increased due to the fact that they put a fradulant charge on the account. The intresest rate has now increased due to going over the limit. So it seems that I am getting really hosed buy them with there mistake. I am livid at this point and call them to see what I can do to fix there mistake. After holding for about 30 minutes I finally get to a person that is named Darren and barely speaks any english. I start to explain to him what my problem is and he does not seem to understand it. He finally realizes that maybe its more than he can handle and tells me he is gonna transfer me to an account specialist. He puts me on hold to come back 15 minutes later and tells me. "Can you call back we are having system problems and I cant transfer you to that department. I dont even respond I just hang up feeling that I have waisted my time. So I give them a few hours and call them back. They at that time transfer me to an account specialist who is named Jon and speaks a little better english. I tell him what my problem is he looks at my account and tells me you are correct this charge should have never been rebilled to your card. We will have to fix that. Please allow 30 days for this to be fixed. I then was informed that I had a payment that was due.. I then asked him about that payment as it was increased due to the fact that they had put a charge on my card that was not accurate. Jon then told me to make my normal payment of 15.00 dollars a month and that every thing would be resolved on there end. Well during that time I continued to make my payments sure that they would get it all fixed. Boy was I wrong. I recieved a letter from them stating that they had made a mistake and that they had resolved it and I had to do nothing. I was happy that they were taking the blame for their mistakes. I was soon to see that their idea of fixing the problem and mine are 2 different ideas. During this time I had made my monthly payments and thought I was on top of it. I tried to use my card again and again it was denied. I not having a phone due to this mix up with the card had to use my sisters phone to call them again to find out what was the problem. They informed me that I had not made a full payment in 2 months and that is why my card was declined. Now mind you I had been making my payments they say that they had not recieved a full payment. My monthy payment had increased when they rebilled my card but I had been told by there rep to make my normal monthly payment before the mistake had occured and that every thing would be fine. Well then they started to call my sister and harrasses her for the money that they felt was owed as I had used her phone to call them. Never looking into the account to see it was under investigation. Mind you it was all on the account documented all they had to do was look at the information. Then I recieved a letter in the mail from them telling me that it was infact there mistake and that they had corrected the problem. 2 Days later I recieved a letter in the mail about how my capitol one card had been turned over to collection and that this is an attempt to collect a debt. So not only have they dinged my credit for a mistake on there part they are refusing to correct there mistake. I continue to make my monthly payment which has gone up by 15 dollars a month and my intrest rate has doubled from 12 % to 22% all because of a mistake that was made by them that they refuse to correct. And they say no hassels. I have had nothing but hassels with them. Talk about false advertising.
Wow! If you have never banked with Capital One, you are lucky! They are the worst possible bank to deal with! Let me list just some of their DISADVANTAGES, so you can decide whether they are worth the hassle! (It is funny that their slogan is "No hassle" and "Hassle-free banking!" Ridiculous!) Okay, so here they are: -Their interest rates tend to skyrocket everytime there is a problem with our economy. Of course, you are not notified beforehand. You just notice one day that your interest rate went from 6% to 18%. Trust me, it's no fun! -They charge all kinds of fees. They have a yearly fee on the card, a monthly fee, and they will never miss an occasion to charge you insufficient fund fees, late payment fees... You name it!! -They give you amazingly low limits (one-tenth of what other banks will give you!) and worst of all, they have the rudest customer service! This bank is a joke!!! Run, fast!!!