This is my first diary, so go easy on me.
My wife just got the fun surprise of finding out her APR on her Capital One MasterCard had just doubled. Customer Service told her it was because of the current economic crisis!
Anyone else have this wonderful company?
My wife God bless her, is also the type that checks every bill, every balance every day and relentlessly harasses customer service people until they go blind. When the Capital One rep told her they sent her a notification in the mail she replied I use online banking. This apparently is another scam these banks like to use. If you use online banking you are not notified via email or any other online notification. They send you mail which they count on no one opening or quickly discarding.
So let's spend a second researching Capital One. Shall we.
A quick Google search pulls up of course, "of the Virginia banks that received cash injections since November, the median amount invested in any one bank so far is $22 million. Among Virginia banks, Capital One Financial Corporation, based in McLean, received the largest amount—$3.6 billion."
http://www.wsls.com/...
We all know how terrible the "economic crisis" has been for banks.
When are we going to be fed up of being treated this way? When are we going to have representation against corporate monsters like this company? Congress finally decides to get off it's ass and do something about it and this is what we get?
We should all cancel Capital One accounts immediately.
Corporations are at war with their consumers. It's time to start taking the power back.
http://consumerist.com/...
UPDATE: Just called Capital One on my account and my APR is also more than doubling in August. They offer you an opportunity to opt out of these terms. Opting out allows you to keep the existing APR but your account is restricted and you can no longer charge on it. The opt out number is 1-800-214-3755. Call now!
Update II: We are very nice to customer service and recommend you are as well. Until they decide to make it difficult and cease to service the customer and become the defender of the corporation.