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 Refusing to honor details given via phone RE balance trasfer solicitation
Posted Thu March 12, 2009 5:25 pm, by Dolores C. written to Capital One Financial
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I rec'd a solicitation for a balance transfer from Capital One. It promised no transfer fees. I called to get the details. I was told by 3 different people, including 2 supervisors that details amounted to no balance transfer fee and I would enjoy my current 0% finance charge rate for an entire year. I relied on Capital One's representatives and the info they provided. I transfered 2 lower interest credit card balances to Captial One so I could pay off the balance over the coming year without any finance charge. The very 1st statement arrived with a 19% interest charge! When I called, senior account people were rude and told me they were sorry, but I had been given wrong info (despite this being from 3 different people) and there was nothing they would do.
I would like Capital One to honor what I was told by giving me a 0% interest rate through 12/09. It's really quite simple. Reverse the current interest charges and make my account at 0%. I agree to not your card whatsoever and have the entire balance paid by Dec 09.
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by Dolores C. Posted Mon April 20, 2009 @ 7:24 PM
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Hooray!!! Got a letter from Cap One today in response to formal
complaint with the OCC.
After most the letter being a lecture about how Cap One did nothing
wrong, they relented and have agreed, as a "customer courtesy" to
change my interest rate for the balance transfer to 0% through Dec
09.
Yay me!!!
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by Dolores C. Posted Mon March 16, 2009 @ 1:09 PM
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I do have all the original materials. Problem is, now Cap One is
saying there are different jargon terms bandied about. Purchases now
appears to be different than balance transfers or even convenience
checks.
The solicitation does clearly state all 3 types will enjoy the same
rate I had at the time; however Cap One says it is how I interpreted
it.
I did ask for the phone calls and notes on my account to be reviewed,
I kep t careful notes and names/IDs of everyone I spoke to. Cap One
says there are no notes on my account and they do not record calls.
It doesn't matter what I say, they come up with some other slippery
crap.
I've filed complaints w/ FTC and Florida AG, we'll see what happens.
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Oh yes, another game the snakes at the credit card companies play.
If you play with them you will eventually get bit, and you did. Just
let this be the last time you get bit by them and pay off your debt,
cancel your cards and be free of them.
If you cannot afford to pay cash for, and you have to charge it, you
cannot afford it.
Too many people never even read the terms of conditions on these
things, or little store rewards cards for that matter, they have the
power to raise you rate, lower your credit limit for absolutely no
reason. Why anyone would want to play their games, then when they
lose, blame the credit card company is beyond me.
Good Day
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by Rich F. Posted Thu March 12, 2009 @ 7:25 PM
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The quality of service at Capital One is awful due to outsourcing.
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by Donno Posted Thu March 12, 2009 @ 7:24 PM
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The conversation should be recorded, I think. I've sat watching tv,
while the bank CSR blathered on about interest rates, fees, etc
(because I always pay my balance in full) - they told me it is
required and the call is recorded.
If this happened to me, I would ask them to review the call.
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