topic Re: How much is a capital one customer worth? $36...aparently. in Credit Cards

How much is a capital one customer worth? $36...aparently.

Cleaningitup2016 — Sat, 21 Mar 2020 01:23:58 GMT

Capital one posted on their twitter they are helping out people due to covid-19. NOPE.

I was temporaily laid off a few days ago, rationed my money because IDK how long this will last.

Called and told them what happened "oooo sorry, you had a late fee waiver in October".

Apparently you get one...just ONE per year. How nice of them, right?

Called and spoke to two account managers. Told them I would be paying my cards in full when I resume work, and taking the money out of my savings if they don't refund a fee.

Nope..

OK..have it your way.

Re: How much is a capital one customer worth? $36...aparently.

seattletravels — Sat, 21 Mar 2020 01:26:42 GMT

Sorry to hear. Hope everything works out for you.

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Sat, 21 Mar 2020 01:31:25 GMT

@Cleaningitup2016 wrote:
Capital one posted on their twitter they are helping out people due to covid-19. NOPE.
I was temporaily laid off a few days ago, rationed my money because IDK how long this will last.
Called and told them what happened "oooo sorry, you had a late fee waiver in October".
Apparently you get one...just ONE per year. How nice of them, right?
Called and spoke to two account managers. Told them I would be paying my cards in full when I resume work, and taking the money out of my savings if they don't refund a fee.
Nope..
OK..have it your way.

Sorry to hear. Focus on being a minimalist so that you come through this as well as you can.

Re: How much is a capital one customer worth? $36...aparently.

TattnallTrio — Sat, 21 Mar 2020 02:16:30 GMT

Capital One deferred my auto loan payment for 1 month

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Sat, 21 Mar 2020 13:41:05 GMT

@Cleaningitup2016 wrote:
Capital one posted on their twitter they are helping out people due to covid-19. NOPE.
I was temporaily laid off a few days ago, rationed my money because IDK how long this will last.
Called and told them what happened "oooo sorry, you had a late fee waiver in October".
Apparently you get one...just ONE per year. How nice of them, right?
Called and spoke to two account managers. Told them I would be paying my cards in full when I resume work, and taking the money out of my savings if they don't refund a fee.
Nope..
OK..have it your way.

Sorry to hear about your layoff. What was your reason for calling them? What fee are you talking about?

Re: How much is a capital one customer worth? $36...aparently.

seattletravels — Sat, 21 Mar 2020 14:52:19 GMT

@Anonymous wrote:
@Cleaningitup2016 wrote:
Capital one posted on their twitter they are helping out people due to covid-19. NOPE.
I was temporaily laid off a few days ago, rationed my money because IDK how long this will last.
Called and told them what happened "oooo sorry, you had a late fee waiver in October".
Apparently you get one...just ONE per year. How nice of them, right?
Called and spoke to two account managers. Told them I would be paying my cards in full when I resume work, and taking the money out of my savings if they don't refund a fee.
Nope..
OK..have it your way.
Sorry to hear about your layoff. What was your reason for calling them? What fee are you talking about?

Sounds like a late fee.

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Sat, 21 Mar 2020 19:47:11 GMT

I guess I don't understand. If the op just got laid off last week, how do they already have a late fee?

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Sat, 21 Mar 2020 20:57:38 GMT

Sounds like OP had a $36 late fee waived this past October, and due to that, CapOne is unwilling to provide any assistance with the current situation.

Not familiar with CapOne myself, but sounds like they're all bark and no bite when it comes to Covid-19 assistance, especially if it's just equivalent to a 1-time $36 late fee waiver.

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Sat, 21 Mar 2020 21:03:21 GMT

@Anonymous wrote:
Sounds like OP had a $36 late fee waived this past October, and due to that, CapOne is unwilling to provide any assistance with the current situation.

Not familiar with CapOne myself, but sounds like they're all bark and no bite when it comes to Covid-19 assistance, especially if it's just equivalent to a 1-time $36 late fee waiver.

There are two things Capital One doesn't like - late payments and bounced payments. They are tolerant of all kinds of things but those two are big no-nos. October likely put OP on the naughty list.

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Sat, 21 Mar 2020 22:47:49 GMT

@Cleaningitup2016 wrote:
"... you had a late fee waiver in October".
Apparently you get one...just ONE per year. How nice of them, right?

Yes, that is "nice of them". Unless they are contractually obligated and I'm not aware ...

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Sun, 22 Mar 2020 00:01:08 GMT

@Anonymous wrote:
@Cleaningitup2016 wrote:
"... you had a late fee waiver in October".
Apparently you get one...just ONE per year. How nice of them, right?
Yes, that is "nice of them". Unless they are contractually obligated and I'm not aware ...

Yes, several issuers will waive the first late fee (if asked) but not again, so once per year is on the generous side. I realize that it doesn't seem like it fits well with their "we are here to help" statements but: a) did you really take that seriously from any issuer and b) they may be willing to do other things, such as reduce APRs, minimums etc. Being late, as mentioned above, is nearly always frowned on, if it hasn't been discussed earlier.

Re: How much is a capital one customer worth? $36...aparently.

cr101 — Sun, 22 Mar 2020 03:08:30 GMT

you should switch your savings now, anyway. there are much better rates. just google high yield savings account.

Re: How much is a capital one customer worth? $36...aparently.

VPExecutive — Sun, 22 Mar 2020 23:51:53 GMT

@Cleaningitup2016 wrote:
Capital one posted on their twitter they are helping out people due to covid-19. NOPE.
I was temporaily laid off a few days ago, rationed my money because IDK how long this will last.
Called and told them what happened "oooo sorry, you had a late fee waiver in October".
Apparently you get one...just ONE per year. How nice of them, right?
Called and spoke to two account managers. Told them I would be paying my cards in full when I resume work, and taking the money out of my savings if they don't refund a fee.
Nope..
OK..have it your way.

Not picking on you in particular, but I'd like to make a point to everyone on the board.

Do people actually believe these companies want to help people out? The emails the companies send out with pointers about how "they're trying to help" is nothing but a PR move and/or a way to keep profiting.

Sounds to me like Capital One should waive the fee... After all, they want to help their customers during tough times, such as being involuntarily laid off for 3-4 weeks, right? Nope, they don't really care. But then again, I think Capital One is a garbage company anyways - they triple pull when you apply for a card and turn down folks with 800+ scores just because they pay their card(s) off in full every month.

What Capital One card do you have? We can probably help you find a similar one offered by a credit union - an organization that actually cares about its member's financial difficulties. For example, Navy FCU gives out interest free loans to members during government shut downs so they can afford to feed their families. Capital One would never do such a thing.

Re: How much is a capital one customer worth? $36...aparently.

Remedios — Mon, 23 Mar 2020 00:17:07 GMT

Without getting into who's willing to help or not (there is a whole thread about that, with lots of resources for those who need them), the "problem" with cap one and some others is complete automation. Humans cannot do anything, even if they want to.

Hopefully that might change somewhat in the upcoming days, but with some lenders, I'm not holding my breath.

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Mon, 23 Mar 2020 00:51:37 GMT

@VPExecutive wrote:
@Cleaningitup2016 wrote:
Capital one posted on their twitter they are helping out people due to covid-19. NOPE.
I was temporaily laid off a few days ago, rationed my money because IDK how long this will last.
Called and told them what happened "oooo sorry, you had a late fee waiver in October".
Apparently you get one...just ONE per year. How nice of them, right?
Called and spoke to two account managers. Told them I would be paying my cards in full when I resume work, and taking the money out of my savings if they don't refund a fee.
Nope..
OK..have it your way.
Not picking on you in particular, but I'd like to make a point to everyone on the board.

Do people actually believe these companies want to help people out? The emails the companies send out with pointers about how "they're trying to help" is nothing but a PR move and/or a way to keep profiting.

Sounds to me like Capital One should waive the fee... After all, they want to help their customers during tough times, such as being involuntarily laid off for 3-4 weeks, right? Nope, they don't really care. But then again, I think Capital One is a garbage company anyways - they triple pull when you apply for a card and turn down folks with 800+ scores just because they pay their card(s) off in full every month.

What Capital One card do you have? We can probably help you find a similar one offered by a credit union - an organization that actually cares about its member's financial difficulties. For example, Navy FCU gives out interest free loans to members during government shut downs so they can afford to feed their families. Capital One would never do such a thing.

They "help" customers they don't want to lose. Whether it's good times or bad.

Re: How much is a capital one customer worth? $36...aparently.

VPExecutive — Mon, 23 Mar 2020 01:01:23 GMT

@Remedios wrote:
Without getting into who's willing to help or not (there is a whole thread about that, with lots of resources for those who need them), the "problem" with cap one and some others is complete automation. Humans cannot do anything, even if they want to.
Hopefully that might change somewhat in the upcoming days, but with some lenders, I'm not holding my breath.

Agreed. Companies need to lay off the automation a bit. It's ridiculous when a senior manager cannot overrule something that's completely illogical, irriating the customer and causing a headache for everyone.

Re: How much is a capital one customer worth? $36...aparently.

Anonymous — Mon, 23 Mar 2020 01:18:23 GMT

@VPExecutive wrote:
@Remedios wrote:
Without getting into who's willing to help or not (there is a whole thread about that, with lots of resources for those who need them), the "problem" with cap one and some others is complete automation. Humans cannot do anything, even if they want to.
Hopefully that might change somewhat in the upcoming days, but with some lenders, I'm not holding my breath.

Agreed. Companies need to lay off the automation a bit. It's ridiculous when a senior manager cannot overrule something that's completely illogical, irriating the customer and causing a headache for everyone.

Automation has drawbacks and false positives. I just shut down the lane change detection on my car because I'm tired of the brakes automatically applied harshly on highways on sunny days where powerlines run parallel and produce shadows and it thinks on going off the road.

Credit card algorithms can also result in false outcomes unfortunately. If someone pays late, especially in these times, it doesn't mean they are having financial problems. Just a week ago, I almost bounced a payment to Chase because I forgot I moved funds out of my checking account to an adjacent account. Caught it and fixed it in time. Chase could have been spooked over that and it would have just been coincidence with the current environment.