Leonidas
Thinks s/he gets paid by the post
I've been a credit card "freeloader" for years now - paying off the total bill each month - and that's been working well. Several of the cards jacked up my interest rates during the Great Recession, but what did I care?
Capital One miffed me a bit last year after I finally responded to their non-stop begging to "upgrade" my rewards program. The rewards program sucked before the upgrade and still sucks after, but I seldom use the card so, again, I couldn't care less. But two months after I agreed to upgrade the rewards program (we are offering this because we want you to use your Capital One card more often) they jacked my interest rate. I called customer relations (note it's not customer service) at the time and asked them why I would even want to do business with them, much less use the card more, if that was how they were treating me. I got zip, and made a mental note to get around to canceling the stupid thing sometime in the near future.
I've got one recurring charge on the card, $30 a month to a charity that I support. It seemed like a pain to get the charity to change the billing so I let Capital One slide for a few months.
Well, now is the time baby. Sayonara you pirates, thieves and con men.
August was a busy month (last minute vacations and helping oldest son get set up in his first apartment at college) and I forgot to hit the send button on e-paying the Capital One bill when I should have. The result is that the payment was two days late and I incurred a late payment and a finance charge. Okay, I deserved that, my bad, but it won't happen again, and the next bill was paid early.
Now, today, I get another bill from the pirates and I discover there is yet again another finance charge. It's only $2.17, but still, that's not right.
"Michelle" in Mumbai is the representative I get on the line with and proceed to ask my pertinent question: Michelle, sweetie, WTF?
Michelle, in her best Mumbai accented English proceeds to try and baffle me with some Capital One Algebra on interest rate calculations, daily balances, and then she drops this jewel: "The agreement stipulates that you will be charged interest until you have paid the bill on time for two consecutive billing periods. I am pleased to tell you that this will be the last month for which you will be charged interest."
My question of "I owed Capital One $30 for two days and I pay interest for two months on a bogus balance of $90?" was met with yet more Capital One Algebra. So much for Michelle.
A trip to Capital One's website reveals no such terms in the agreement, nor does a careful examination of the full page of legalese on the back of the statement. I'm really feeling the need for an explanation, so I sent them a message asking if this was some kind of scam they were pulling.
It took ten minutes to receive this reply:
I'm going to take a great deal of pleasure in writing the letter that will accompany my cut up Visa card that's going back to this pack of thieves.
Capital One miffed me a bit last year after I finally responded to their non-stop begging to "upgrade" my rewards program. The rewards program sucked before the upgrade and still sucks after, but I seldom use the card so, again, I couldn't care less. But two months after I agreed to upgrade the rewards program (we are offering this because we want you to use your Capital One card more often) they jacked my interest rate. I called customer relations (note it's not customer service) at the time and asked them why I would even want to do business with them, much less use the card more, if that was how they were treating me. I got zip, and made a mental note to get around to canceling the stupid thing sometime in the near future.
I've got one recurring charge on the card, $30 a month to a charity that I support. It seemed like a pain to get the charity to change the billing so I let Capital One slide for a few months.
Well, now is the time baby. Sayonara you pirates, thieves and con men.
August was a busy month (last minute vacations and helping oldest son get set up in his first apartment at college) and I forgot to hit the send button on e-paying the Capital One bill when I should have. The result is that the payment was two days late and I incurred a late payment and a finance charge. Okay, I deserved that, my bad, but it won't happen again, and the next bill was paid early.
Now, today, I get another bill from the pirates and I discover there is yet again another finance charge. It's only $2.17, but still, that's not right.
"Michelle" in Mumbai is the representative I get on the line with and proceed to ask my pertinent question: Michelle, sweetie, WTF?
Michelle, in her best Mumbai accented English proceeds to try and baffle me with some Capital One Algebra on interest rate calculations, daily balances, and then she drops this jewel: "The agreement stipulates that you will be charged interest until you have paid the bill on time for two consecutive billing periods. I am pleased to tell you that this will be the last month for which you will be charged interest."
My question of "I owed Capital One $30 for two days and I pay interest for two months on a bogus balance of $90?" was met with yet more Capital One Algebra. So much for Michelle.
A trip to Capital One's website reveals no such terms in the agreement, nor does a careful examination of the full page of legalese on the back of the statement. I'm really feeling the need for an explanation, so I sent them a message asking if this was some kind of scam they were pulling.
It took ten minutes to receive this reply:
No explanation, no "We're going to waive the charge because of your long history with our company", no "Ooops, our bad", or "Michelle was smoking crack when she said that". Nothing but this lame ass email that sounds like "Damn, you caught us! Okay, here's your money back."October 01, 2009 10:58 AM
Subject: Re: Account terms (fees, APR, etc.)
Message: Dear [LEONIDAS],
Thanks for contacting us about your Capital One account.
Good news! We’ve credited your account for $2.17 in finance charges.
You’ll see the credit on your next monthly statement.
If you have questions, please give us a call at 1-800-955-7070. Our
Customer Service Representatives are available 24 hours a day, 7 days a
week.
Thanks for choosing Capital One.
Sincerely,
Capital One Services, LLC
I'm going to take a great deal of pleasure in writing the letter that will accompany my cut up Visa card that's going back to this pack of thieves.