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Capital One and their AF...

Frequent Contributor

Capital One and their AF...

I've noticed that Crapital One is imposing AF's on current card holders. Anyone know the reason for this?

myFICO - EQ: 776 EX: 763 TU: 791
Message 1 of 6
5 REPLIES
Epic Contributor

Re: Capital One and their AF...

They are blaming it on the new credit card law, just like all the banks are doing.

Message 2 of 6
Frequent Contributor

Re: Capital One and their AF...


Creditaddict wrote:

They are blaming it on the new credit card law, just like all the banks are doing.


Well, I work for a finacial institution based in Long Beach, CA & hearing the new fee structure for CC's is laughable, and that is the rhetoric....the "blame" is the new CC laws. I laugh simply because (though myself and many counterparts hear this) I know I am one of a FEW within my counterparts that understand it has NOTHING to do with CC laws. It is simple GREED and the fact that the gov cut the hard revenue tactics off by the mid-section, well...not totally but it forced the companies to come up with new ways to nickel and dime you to death.....


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


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Message 3 of 6
Epic Contributor

Re: Capital One and their AF...

 


Pushto700 wrote:

Creditaddict wrote:

They are blaming it on the new credit card law, just like all the banks are doing.


Well, I work for a finacial institution based in Long Beach, CA & hearing the new fee structure for CC's is laughable, and that is the rhetoric....the "blame" is the new CC laws. I laugh simply because (though myself and many counterparts hear this) I know I am one of a FEW within my counterparts that understand it has NOTHING to do with CC laws. It is simple GREED and the fact that the gov cut the hard revenue tactics off by the mid-section, well...not totally but it forced the companies to come up with new ways to nickel and dime you to death.....


+1!!!

 

Message 4 of 6
Contributor

Re: Capital One and their AF...

 


Creditaddict wrote:

 


Pushto700 wrote:

Creditaddict wrote:

They are blaming it on the new credit card law, just like all the banks are doing.


Well, I work for a finacial institution based in Long Beach, CA & hearing the new fee structure for CC's is laughable, and that is the rhetoric....the "blame" is the new CC laws. I laugh simply because (though myself and many counterparts hear this) I know I am one of a FEW within my counterparts that understand it has NOTHING to do with CC laws. It is simple GREED and the fact that the gov cut the hard revenue tactics off by the mid-section, well...not totally but it forced the companies to come up with new ways to nickel and dime you to death.....


+1!!!

 


Well then, it is due to the new credit card law Smiley Tongue.  They can no longer make money by slapping you with all their other fees so they now slap you with an annual fee and, instead of blaming it on themselves, blame it on the new requirements

 

Message 5 of 6
Frequent Contributor

Re: Capital One and their AF...


wajj wrote:

 


Creditaddict wrote:

 


Pushto700 wrote:

Creditaddict wrote:

They are blaming it on the new credit card law, just like all the banks are doing.


Well, I work for a finacial institution based in Long Beach, CA & hearing the new fee structure for CC's is laughable, and that is the rhetoric....the "blame" is the new CC laws. I laugh simply because (though myself and many counterparts hear this) I know I am one of a FEW within my counterparts that understand it has NOTHING to do with CC laws. It is simple GREED and the fact that the gov cut the hard revenue tactics off by the mid-section, well...not totally but it forced the companies to come up with new ways to nickel and dime you to death.....


+1!!!

 


Well then, it is due to the new credit card law Smiley Tongue.  They can no longer make money by slapping you with all their other fees so they now slap you with an annual fee and, instead of blaming it on themselves, blame it on the new requirements

 


LOL, I know right? The reasoning is laughable....but they REALLY, really belive what they say and SOOO many people eat it up as the Gospel. I cannot stand listening to that crap, lol.


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


Take the FICO Fitness Challenge
Message 6 of 6