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Valued Contributor
usmc58555
Posts: 1,673
Registered: ‎02-18-2009

Re: Cap 1 interest increase


montanadem wrote:
I finally spoke to Suzy in Texas after being transferred to several other countries and they made no apologies about the increase of interest rate.  Mine went from 3.9 to 13.9 overnite, well starting end of April.  So here is the executive offices for Cap One and I was surprised to find them in SLC, UT.  Cap One, PO Box 30285, SLC, UT 84130-0285.  I asked Suzy if I charged $4.50 every month and paid off $4.50 each month if they could close my account and she said no.  I asked her how much she thought it would cost her to keep my account open each month between billing, postage, tracking and the auto updates on my fico and she figured about $20.00 so I figure we will play this game until I get my interest rate back.  I cannot vocalize how angry I am that I have been a good payer with a high fico and it means nothing at all.  Hey, to quote Suzy at Cap One, that's just the way it is.

 

I am sorry, but Suzy is just working a job trying to pay her bills as people who make much more money then her make such decisions.

 

And if you think it truly cost them $20.00 to service your account monthly I am sorry as well.

 

not trying to be confrontational, but your data is just data, electrons. And your account info gets uploaded to the bureaus in regular dumps. CAP1 probably pays a blanket rate that brings your individual cost per upload/bureau to be fractions of pennies. (Assuming no problems or disputes)

 

Billing/Printing and postage is probably the most significant cost, but since any advertising insert or blurb in the mix helps defray the cost of the transaction (believe me some department gets billed to be blurbed) and the fact that CAP1 pays for standard postage- real cost on that a month is less then 50 cents.

 

You are hurting the environment more then CAP1 in killing trees- but also helping keep the USPS in business.

 

Real cost to CAP1 assuming no disputes or phone calls talking to a person or emails that have to be reponded to? Well under a dollar. And that's a cost of doing business that goes against their "profit" so to speak.

 

If they lost 20.00 a month on you thats 240 a year!!!! If you hit them for 240 a year they would quickly cancel that account.

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New Member
StrappingYoungLad
Posts: 6
Registered: ‎03-14-2009

Re: Cap 1 interest increase

Both of my CapOne cards got an interest rate increase, after years with the company. I'm just paying them

down, and getting my money out of their Money Market savings (interest rate has tanked).

 

I find it interesting, CapOne got $3.5 Billion in TARP funds, yet are still jacking around longtime customers. They

must be in a world of hurt right now.

Frequent Contributor
CreditCard101
Posts: 401
Registered: ‎02-23-2009

Re: Cap 1 interest increase

[ Edited ]

Seriously I'm tired of Capital One. They have the most cheapest customer services in the credit card industries. I called in to get my annual fees waived but they refused to do so. I even wrote a letter in for it, never heard anything back. So on Tuesday March 10, 2009. I called in to request for the annual fees waived and received a no answer. SO they transferred me to a supervisor located in INDIA, Geezes, India. I was on the phone with them for nearly an HOUR and finally still "NO" answer. So i told them, if no solution to my request, I just had to CLOSE my account. So i request to close my account immediately. No more Capital One for me.

 

I guess that's Capital One "NO" business from now on. Losing a customer for saying NO..

 

 

Message Edited by CreditCard101 on 03-14-2009 02:30 PM
Established Contributor
VEEnVEGAS
Posts: 645
Registered: ‎10-24-2007

Re: Cap 1 interest increase


CreditCard101 wrote:

Seriously I'm tired of Capital One. They have the most cheapest customer services in the credit card industries. I called in to get my annual fees waived but they refused to do so. I even wrote a letter in for it, never heard anything back. So on Tuesday March 10, 2009. I called in to request for the annual fees waived and received a no answer. SO they transferred me to a supervisor located in INDIA, Geezes, India. I was on the phone with them for nearly an HOUR and finally still "NO" answer. So i told them, if no solution to my request, I just had to CLOSE my account. So i request to close my account immediately. No more Capital One for me.


Wow...I've had their cards for 8 years and only paid the annual fee once. Never had them say no when I called to ask that it be waived,  of course I make sure the card has a 0 balance when I call AND I always tell them I'm closing thecard otherwise.. and I mean it!


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