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I got my new Cap1 Discloses today they made a mistake or their in violates new laws

Established Contributor

I got my new Cap1 Discloses today they made a mistake or their in violates new laws

They sent a paper statemt  thee new terms still appling payments to lower rates first, and also chhanging a fee to pay over the phone.
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Message 1 of 5
4 REPLIES
Valued Contributor

Re: I got my new Cap1 Discloses today they made a mistake or their in violates new laws

Remember, the new law isn't in effect yet.
Message 2 of 5
Established Contributor

Re: I got my new Cap1 Discloses today they made a mistake or their in violates new laws

Why would they go the extra cost snail mailing me a statment with Discloses that are old, when they will just have to send the updated one next month?
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Message 3 of 5
Moderator Emeritus

Re: I got my new Cap1 Discloses today they made a mistake or their in violates new laws


rbbyrbsn wrote:
Why would they go the extra cost snail mailing me a statment with Discloses that are old, when they will just have to send the updated one next month?

Because they are credit card companies. They are as hard to understand (for me at least) as quantam physics.

Message 4 of 5
Established Contributor

Re: I got my new Cap1 Discloses today they made a mistake or their in violates new laws

The BOA balance transfer offers that I get monthly also include the same lower-APR-first payment application language. I'm sure the text will change after February 22 ...
Message 5 of 5