topic Re: Capital one does not value their customers in General Credit Topics

Capital one does not value their customers

Jamielei24 — Tue, 11 Mar 2014 20:29:01 GMT

Emailed the EO yesterday with a rather carefully worded statement and attached my 1st gw letter. just received a call and I'm thinking wahoo!!.... Nope got an earful about ethical blah and being a good credit company and reporting accurate info. But she just felt that she needed to follow up with me.

well that's that grrr! Won't be using that card ever ever again. In fact I will be BT it soon!

Re: Capital one does not value their customers

grinlikechelsea — Tue, 11 Mar 2014 20:32:04 GMT

@Jamielei24 wrote:
Emailed the EO yesterday with a rather carefully worded statement and attached my 1st gw letter. just received a call and I'm thinking wahoo!!.... Nope got an earful about ethical blah and being a good credit company and reporting accurate info. But she just felt that she needed to follow up with me.

well that's that grrr! Won't be using that card ever ever again. In fact I will be BT it soon!

I wouldn't say they don't care about their customers, but some lenders are very stubborn at removing derogs from CRs unless it is incorrect. I'm sorry you couldn't get this resolved through the EO.

Re: Capital one does not value their customers

red259 — Tue, 11 Mar 2014 20:35:30 GMT

@Jamielei24 wrote:
Emailed the EO yesterday with a rather carefully worded statement and attached my 1st gw letter. just received a call and I'm thinking wahoo!!.... Nope got an earful about ethical blah and being a good credit company and reporting accurate info. But she just felt that she needed to follow up with me.

well that's that grrr! Won't be using that card ever ever again. In fact I will be BT it soon!

You mentioned a GW letter. Is this an update to a prior post where you mentioned the issue you were having?

Re: Capital one does not value their customers

Creditaddict — Tue, 11 Mar 2014 20:43:37 GMT

@Jamielei24 wrote:
Emailed the EO yesterday with a rather carefully worded statement and attached my 1st gw letter. just received a call and I'm thinking wahoo!!.... Nope got an earful about ethical blah and being a good credit company and reporting accurate info. But she just felt that she needed to follow up with me.

well that's that grrr! Won't be using that card ever ever again. In fact I will be BT it soon!

I get the same answer from GE Cares Executive Line (I pleaded I was trying to buy a house and these accounts were in the way of that) she still didn't give...

Granted they are reported correctly so she certainly doesn't need to change them.

I personally think part of rehabbing the credit reporting system that is depserately needed is if banks don't take a loss and the consumer makes good then why should we continue to suffer past the making of it good for 7-10 years.

sure report away if I don't pay, but if I pay, then you should wipe away my baddie! (I'm only saying in the case of IF YOU PAY and bank takes no loss, then they shouldn't get to continue to report you bad... win win for all except for those trying to profit off our past history that may not be in play anymore. (make senese)

Re: Capital one does not value their customers

Chris679 — Tue, 11 Mar 2014 21:10:07 GMT

If you loan someone $500 and they take 5 years to pay it back are you going to turn around and lend them more money? I didn't think so. I think people are better served taking responsibility for their own actions rather than expecting creditors or legislators to bail them out.

Re: Capital one does not value their customers

red259 — Tue, 11 Mar 2014 21:14:35 GMT

@Creditaddict wrote:
@Jamielei24 wrote:
Emailed the EO yesterday with a rather carefully worded statement and attached my 1st gw letter. just received a call and I'm thinking wahoo!!.... Nope got an earful about ethical blah and being a good credit company and reporting accurate info. But she just felt that she needed to follow up with me.

well that's that grrr! Won't be using that card ever ever again. In fact I will be BT it soon!
I get the same answer from GE Cares Executive Line (I pleaded I was trying to buy a house and these accounts were in the way of that) she still didn't give...
Granted they are reported correctly so she certainly doesn't need to change them.

I personally think part of rehabbing the credit reporting system that is depserately needed is if banks don't take a loss and the consumer makes good then why should we continue to suffer past the making of it good for 7-10 years.
sure report away if I don't pay, but if I pay, then you should wipe away my baddie! (I'm only saying in the case of IF YOU PAY and bank takes no loss, then they shouldn't get to continue to report you bad... win win for all except for those trying to profit off our past history that may not be in play anymore. (make senese)

I agree the system should be reformed. If someone makes good on a debt, while I don't agree the baddie should be immediately removed I think its unfair for a person to be penalized for a decade. Maybe have it last only two years and then drop off.

Re: Capital one does not value their customers

red259 — Tue, 11 Mar 2014 21:22:21 GMT

@Chris679 wrote:
If you loan someone $500 and they take 5 years to pay it back are you going to turn around and lend them more money? I didn't think so. I think people are better served taking responsibility for their own actions rather than expecting creditors or legislators to bail them out.

I'm not sure where you are getting 5 years from? Is this just your example or did OP mention something specific somewhere else? Someone could get a derog for being 30 days late and that will haunt them even after they pay it off. People lose their jobs all of a sudden and then have no money coming in. This is a common scenario and does not mean they do not accept responsibility. While there are people with credit problems who were reckless there are many people out there who are having an economic hardship and would work if they could. We can't paint the whole population with the same brush.

Re: Capital one does not value their customers

Anonymous — Tue, 11 Mar 2014 21:22:34 GMT

Capital One, from my experience, seems to be the harshest when it comes to addressing GW disputes. I was a member for 10+yrs and they couldnt even do me the smallest of favors. I now use my AMEX 100% of the time because of their excellent customer service.

Re: Capital one does not value their customers

grinlikechelsea — Tue, 11 Mar 2014 21:25:21 GMT

@Chris679 wrote:
If you loan someone $500 and they take 5 years to pay it back are you going to turn around and lend them more money? I didn't think so. I think people are better served taking responsibility for their own actions rather than expecting creditors or legislators to bail them out.

I understand where you are coming from, and it is a valid point. However, its hard for me to get behind this statement simply because every situation is unique. If you lent money to a friend, and he paid late because he was laid off, or had a medical emergency, would you refuse to lend him money ever again and label him as a deadbeat?

A 30 day late is a minor derog and we all make mistakes. I wish Cap 1 was more sympathetic, but it doesn't imply that the OP isn't taking responsibility. In fact, I commend her for being proactive in addressing the late.

Re: Capital one does not value their customers

tryme — Tue, 11 Mar 2014 21:40:13 GMT

What is a GW? SD? BT? I'm still somewhat of a newbie... Thanks!

Re: Capital one does not value their customers

Anonymous — Tue, 11 Mar 2014 21:45:14 GMT

(1st post in over 5 mos for me)

GW=Goodwill Letter
SD=Sock Drawer
BT=Balance Transfer

Re: Capital one does not value their customers

09Lexie — Tue, 11 Mar 2014 21:45:18 GMT

@tryme wrote:
What is a GW? SD? BT? I'm still somewhat of a newbie... Thanks!

GW good will

SD sock drawer

BT balance transfer

Re: Capital one does not value their customers

grinlikechelsea — Tue, 11 Mar 2014 21:46:17 GMT

@tryme wrote:
What is a GW? SD? BT? I'm still somewhat of a newbie... Thanks!

No worries. We're all here to help one another.

GW - Goodwill letter. Letter sent to a lender asking to forgive a derog on one of their accounts.

SD - Sockdrawer. Term used for cards not actively used anymore for various reasons.

BT - Balance Transfer. Transferring the balance of one card to another (usually because of 0% APR).

Hope that helps!

Re: Capital one does not value their customers

red259 — Tue, 11 Mar 2014 21:53:59 GMT

@grinlikechelsea wrote:
@tryme wrote:
What is a GW? SD? BT? I'm still somewhat of a newbie... Thanks!
No worries. We're all here to help one another.

GW - Goodwill letter. Letter sent to a lender asking to forgive a derog on one of their accounts.
SD - Sockdrawer. Term used for cards not actively used anymore for various reasons.
BT - Balance Transfer. Transferring the balance of one card to another (usually because of 0% APR).

Hope that helps!

Abbreviations are provided in the helpful threads link. I think it would help a lot if the list of abbreviations had their own sticky, since right now its kinda hidden and these questions pop up soo frequently.

Re: Capital one does not value their customers

09Lexie — Tue, 11 Mar 2014 22:10:15 GMT

@red259 wrote:
@grinlikechelsea wrote:
@tryme wrote:
What is a GW? SD? BT? I'm still somewhat of a newbie... Thanks!
No worries. We're all here to help one another.

GW - Goodwill letter. Letter sent to a lender asking to forgive a derog on one of their accounts.
SD - Sockdrawer. Term used for cards not actively used anymore for various reasons.
BT - Balance Transfer. Transferring the balance of one card to another (usually because of 0% APR).

Hope that helps!
Abbreviations are provided in the helpful threads link. I think it would help a lot if the list of abbreviations had their own sticky, since right now its kinda hidden and these questions pop up soo frequently.

It does, under the User Guidelines and General Information Forum

Re: Capital one does not value their customers

B335is — Tue, 11 Mar 2014 23:11:39 GMT

Ive read that Capital One is one of the most difficult lenders when it comes to granting GW requests. I dont have personal experience with them but I do with a Utility so I certainly understand the frustration. Going through that experience is one of the most influential points in my life when it comes to dealing with payments, it taught me a valuable lesson. Some are forgiving, others arent but at the end of the day its my responsibility.

Re: Capital one does not value their customers

Jamielei24 — Wed, 12 Mar 2014 00:04:42 GMT

Wow! I take full responsibility for my one and only 30d late with capital one. In the month I was late I was transition job titles from CNA to RN and was out of work while awaiting orientation since my job tittle changed. Paying rent seemed more of a priority at the time. In that time I had missed my capital one I also missed my amazon payment. GE was more then happy to remove the 30d late. Again the only time I have been late on any cards since opening my accounts. This is the only baddie hanging on my reports now and just frustrating. I paid the price. My credit score took a big hit. It has taken a year to get back to where I was.

I was 5 days late not 5 years. ugh. At the end of the day I'm very grateful that GE was so gracious and just wish that Capital One would have extended the same generosity.

Re: Capital one does not value their customers

Jarnog — Wed, 12 Mar 2014 00:13:47 GMT

Could you PM me the EO email address. I'm gonna give it a go for a 30 day late that was in 2011.

It would be greatly appreciated, and sorry for the bad luck

Re: Capital one does not value their customers

Anonymous — Wed, 12 Mar 2014 00:16:47 GMT

@Jamielei24 wrote:
Emailed the EO yesterday with a rather carefully worded statement and attached my 1st gw letter. just received a call and I'm thinking wahoo!!.... Nope got an earful about ethical blah and being a good credit company and reporting accurate info. But she just felt that she needed to follow up with me.

well that's that grrr! Won't be using that card ever ever again. In fact I will be BT it soon!

For a 5 day late, that's crazy. I thought they don't usually report unless it's 30 days late. I'd try to email them again, maybe you'll get someone nicer. If that doesn't work, I can dig up a fax number for you tomorrow. Just remind me.

Re: Capital one does not value their customers

Creditaddict — Wed, 12 Mar 2014 00:19:32 GMT

@Jarnog wrote:
Could you PM me the EO email address. I'm gonna give it a go for a 30 day late that was in 2011.

It would be greatly appreciated, and sorry for the bad luck

google "Capital One CEO Email Address" believe it's the first one.