Credit Card Center Advertiser Disclosure†
02-18-2014 05:49 AM
Glad I'm not carrying one of their cards...per the LA times: http://www.latimes.com/business/la-fi-lazarus-20140218,0,2211926.column#axzz2tgIMIJTS
"Ding-dong, Cap One calling.
Credit card issuer Capital One isn't shy about getting into customers' faces. The company recently sent a contract update to cardholders that makes clear it can drop by any time it pleases.
The update specifies that "we may contact you in any manner we choose" and that such contacts can include calls, emails, texts, faxes or a "personal visit.
As if that weren't creepy enough, Cap One says these visits can be "at your home and at your place of employment."
The police need a court order to pull off something like that. But Cap One says it has the right to get up close and personal anytime, anywhere.
Rick Rofman, 71, of Van Nuys received the contract update the other day. He was spooked by the visitation rights Cap One was claiming for itself.
"Even the Internal Revenue Service cannot visit you at home without an arrest warrant," Rofman observed.
Indeed, you'd think the 4th Amendment of the Constitution, which guards against unreasonable searches and seizures, would make this sort of thing verboten.
"It sounds really invasive, but I don't think it's a violation of your 4th Amendment rights," said Daniel E. Kann, a Santa Clarita lawyer who specializes in illegal-search cases.
He explained that the amendment applies primarily to searches and seizures by law enforcement, not civilians. A credit card company, in theory, could reserve the right to visit your home or office without a court order, Kann said.
But he emphasized that there are laws against harassment, not to mention stalking, and Cap One could be held accountable under such statutes if, say, it took to inviting itself over for dinner or hanging around your cubicle.
Incredibly, Cap One's aggressiveness doesn't stop with personal visits. The company's contract update also includes this little road apple:
"We may modify or suppress caller ID and similar services and identify ourselves on these services in any manner we choose."
Now that's just freaky. Cap One is saying it can trick you into picking up the phone by using what looks like a local number or masquerading as something it's not, such as Save the Puppies or a similarly friendly-seeming bogus organization.
This is known as spoofing, and it's perfectly legal. As I've written before, the federal Truth in Caller ID Act makes it a crime to use a phony number or caller ID message to commit fraud or cause harm to others.
But it's not against the law to engage in what courts have called "non-harmful spoofing," which includes businesses wearing digital disguises to penetrate a consumer's phone defenses.
Such corporate spoofing is employed primarily by telemarketers. It's weird, to say the least, for this practice to be so publicly adopted by a major credit card issuer.
Emily Rusch, executive director of the California Public Interest Research Group, a consumer advocacy organization, said it's especially troubling for Cap One to declare itself a spoofer as people grapple with recent security breaches involving Target, Neiman Marcus and other businesses.
"Now more than ever, consumers need to be able to trust companies," she said."
02-17-2014 10:32 PM
While watching the news, I saw this report regarding Capital One's new contract.
The update specifies that "we may contact you in any manner we choose" and that such contacts can include calls, emails, texts, faxes or a "personal visit."
02-18-2014 06:00 AM
I read that article this morning. Very creepy. Makes me wish I could get my new cards I'm eyeing up now, so I can cancel these. I don't have or plan to have issues with them, but this kind of practice just gives me the willies.
02-18-2014 06:14 AM
I don't think it's that big of a deal. There are already other businesses that will come to your door to collect. If you don't want them there tell them to leave.
02-18-2014 06:34 AM
Interesting article, I wonder if any members here have already gotten the surprise from Cap1 at work.
02-18-2014 06:51 AM
Personal visits may only happen when someone doesn't pay the bill and account goes in collection. Not a new thing. Car loan lenders already do that. Why would be in that place anyway of spending from your card and not paying the bill. Always spend someting that you can afford to pay back. Always pay in full.
02-18-2014 07:47 AM
I wish Capital One would stop by my house, I would like to talk to them about a CLI...
When they did show up I would hope it was Samuel L Jackson and NOT Alec Baldwin!!
02-18-2014 07:52 AM
I wouldn't appreciate it if they dropped in my home unnanounced, but my place of business is fine, since it's open to the General Public. If they did, I'd suggest on the Venture card, they'd allow points to redeem the fees at a bonus value, similar to US Bank's FlexPerks.
02-18-2014 08:02 AM
Secured and Subprime loans are higher risk and they want to increase their visibility in order to further guarantee payment.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.