MyBankTracker rated Capital One based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
Over the course of the past year i have had a number of very annoying experiences with co. The first was when i went to make a furniture purchase with my debit card. The purchase was declined, not becuase of insufficient funds, but because i had reached my "daily limit". This daily limit was arbitrarily set by co and it was about 20% of my total balance at that time. My purchase was $60 over my "daily limit" and they refused to process the transaction. They did offer that i hadn't made any atm withdrawals that day and could go to the atm and get out up to $500. I was told by co that this is a practice of all banks. I spoke shortly thereafter to a vp at a bank and is responsible for the integration of banks they acquire and he had never heard of this practice at any other bank. Other incidents include having trouble making a payment on a co car loan. I would make the payment online and co would cut a manual check and mail it to another co divisoin. It would sometimes take up to two weeks for the check to clear and i was totally unaware of this until i got calls that my payment was late. Mind you a payment to my macy's account cleared in three days. This week my debit card was very cut off. I had no idea until my card was declined. I called cusomter service who told me that there was a security concern and they were sending me a new card. I had no notice of this, no email to my online account, nothing. Further when i asked about the security breach i was given no info. Their security practices are very confusing. My card will get declined for security verification on $150 purchase in ohio (i live in md) but no such need for verification when spending thousands in vegas. I nearly always expect my card to be declined when i'm out of state. Note the customer service people are always as helpful as they can be. Its the bank practices that are terrible.
I had an issue with a transaction after ordering an item online. Carissa was very helpful with solving my issue. She stayed on the line with me for over an hour and went above and beyond with a three-way call with the company I ordered an item from. She assisted me with a conflict I had while on the three-way call. Carissa was very polite and helpful. I cannot thank her enough for helping me.
I have two accounts at Capital One because of the ease of sending bank to bank transfers. They were years ahead of their competitors on this. However they now have fallen far behind in terms of online service. Today was only the last in a chain of events that will lead me to move my accounts. When i did not receive my 1099, i assumed i would be able to access one online. When i couldn't find it, i tried to use the chat function on customer service, but it was "not available.
I wrote an email, for which i received no response within 24 hours, not even an automated response that my email had been received. I then tried online again and after several minutes of q&a was told there was no way to receive my 1099 except via regular mail. (not online, fax or email) she then told me to go back and write another email requesting a replacement 1099. When i balked she said she could request it for me (not sure why she didn't do this initially).
After waiting five minutes, i asked her if she was still there. She then responded that i should receive my replacement 1099 in two weeks. Two weeks? This would be such an easy thing to put online. All the information is available there, just not the tax form. I use several banks and this is the only one that does not make these tax forms available online.