Capital One

3 years ago, I was rebuilding my credit from the mid 520's. I had to purchase a prepaid card and start from scratch.

I wanted to open another account to help open more lines of credit and establish history with Capital One. Their interest rate was absurd at 32%, but I didn't intend on using it. However, life happens, and I was in a situation where I was forced to use the card, so I had a roof over my head. The entire time I have had this card, I have had a 100% payment history, sometimes paying more than necessary to get ahead.

I recently called them asking if they could lower after paying them religiously on time ever since I have owned the card. They told me the interest rate is determined by the Federal Reserve and will not budge below the 32% interest rate that I was given when I didn't have the best credit. A simple Google search shows the average interest rate for good credit is around 22%. I did just purchase a car and have never missed a payment on anything within the last 3 years.

My score was in the excellent range at Hoffman Ford when I purchased my vehicle.

I realize credit companies do not have to lower their rates, but on the flip side, they can lower them for loyal paying customers. If you are in desperate need of a credit card, go for Citibank as Capital One cares nothing for their members undivided devotion to payment.

Capital One used to provided excellent services and value. At some point for whatever reason they chose to sell off the investment arm of the bank and that seemed to herald a new "Who Cares?" paradigm that has since been the watchword in all that they do.

Fundamentally, it seems as if they simply decided that they no longer wish to have any other type of customer than commercial or business clients and have chosen to punish those who remain until we get the hint and leave. Sadly, I have tried that and they seem well aware that the other banks hate us too, or at least they view as nothing but cash cattle and intend to fully exploit that view knowing we have no alternatives that will be substantively different.

My most recent debacle is not the first time this has occurred which is all the more infuriating and to set the stage let me noted I have 3 accounts at the bank. It seems they no longer offer one item which is my Simply Checking account which is just a standard personal checking account opened at a branch several years ago. I subsequently opened a Capital One 360 account which I dub "Spending" and as one might guess is also a checking account aka a Demand Deposit account.

While not a factor in this, I also have a Money Market account. I have a debit card which is linked to the 360 account known as Spending where the Simply Checking has no debit card associated with it. As we all know, the fraud attempts out there today are prolific to say the least and at some level I can understand some policy choices but I do not and never will understand poorly conceived and ill executed choices that don't account for the pertinent details involved as I feel is the case in my current example.

Recently I was trying desperately to get funds that I needed to prevent an event that nobody wants to deal with, an auto reposession. This led me to try some things I would otherwise have dismissed and these in turn led me to an almost manic need to make one of these things yield the promissed fruit.

These idiotic adds that we should not allow but for some reason do - "Get paid for surveys" and their ilk. Also "Need a loan?". They all end up as nothing more than exploits based on the hope they generate against your dire need and none have any intent to actually pay off. In fury I delved the fine print and understood the requirements of making one of them pay off and was determined I would make that happen and in the course of attempting that, I went to site and accepted a deal for a flashlight for only the shipping of 9.99.

Shocker, they also charged my card a second time for 39.95 and when I saw this I reached out to Capital One to address it. Mind you, my card was not lost or missing, a merchant had simply charged it again via a duplicitous approach. As part of handling this, Capital One forced me to cancel and replace the debit card setting in motion this needless stupid situation. I can't access the funds in my account because to do so, I need a debit card.

The replacement is, of course, still coming despite that it was supposedly expedited (which I had to specifically ask for after being told how long it would take and after I had already made clear I needed it yesterday and noting the last similar incident). For the record, I resent the idea that something that takes 3 to 4 days is called "expedited". Overnight is expedited.

Worse, the damn thing per FedEx is sitting in an adjacent city waiting to be delivered tomorrow while I sit here desperately in need of the damn thing. Not even the option to circumvent their sloth by picking it up so there's a finger for FedEx too.

Now, I have basically every damn money app out there and in a finger for all of them, whatever moron programmed them has their instant transfers centered on, yep - you guessed it, Debit Cards.

I don't get what idiot then added the option for 2 to 3 business days via the linked bank but if you are reading this I have a special finger just for you. Bluntly that is of no use to anyone and I am quite sure it's there on purpose to cause mix ups which then result in unfixable situations which they then exploit by having captive funds that we cannot take back. But, as I considered various transfers back and forth to somehow get my money to an account or app that would then allow me to USE IT, it occurred to me that my Simply Checking didn't have a debit card associated with it. I'd found previously that I could not have one card that was linked to both accounts (WHY?) and I'd gotten sidetracked trying to find the control in the Capital One app to simply request one as all they had included was the request to replace one and not to simply get one issued.

At this point I reached out to customer service and was shocked when told she could request one which would take 2 to 3 business days and which point they would then issue one that would then be shipped out in, yep, 2 to 3 business days at which point THEN it would be in transit for 7 to 10 business days. At this point I began wondering if they are even listening when they respond as you say, "I need this yesterday" and they respond by supplying options that will take upwards of a week. It doesn't take a rocket scientist to grasp that those are not options at all.

Moreover, how in God's name was this not noted and acted upon by them during the last stupid time this happened?

The technology underneath them has evolved several thousand fold while their ideas and policies seem to have retreated in the Dark Ages. In every way they are constantly enabled to move faster and easier and yet, what they offer us is slower and increasingly painstaking and damned if I am not sick to death of it.

Capital One has engaged in dishonesty and immorality with its billing practices. Capital One refuses to refund a sky high billing charge after its agent promised it would be refunded and Capital one charges me almost 30% interest on that billing charge.

Embedded in its terms and conditions are policies and clauses that allow Capital One the ability to FLEECE its customers. Also I informed Capital One I was on hard times and asked what programs they had to assist me and I was told by its agent that the only way I would be assisted was to become delinquent on the bill and take the credit hit. Yet I called and spoke to another agent who said they could help me and then the agent grew silent and refused to provide any info on how I could be assisted. I was also told by a Capital One agent that I agreed in the terms and conditions to forever waive my right to pay the principle down early with extra payments.

The agent explained that Capital One does something called Associated Payments where nomatter how much you pay early they will never apply the excess payment to your principal. Ever.

This is evil.