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 have two Capital credit cards for over seven years. I apply for an increase every two years and I am declined. I have no history of ANY late payments for 7 years straight. I talked with a supervisor about it. I was given a $100.00 increase on 1 (one card) and the other card was declined an increase.
Credit Cards that I have had for less than 3 years gave me an availability of $1000.00 after a year on some card I got to $2000.00- $6000.00. I pay on time and before the due date.
Check this out: When I had a fico score of 740 Capital denied my increase. I was given an increase of 100.00 with a fico score of 680. My availability remains under $700.00 with Capital. Seven years of credit card history is nothing to Capital.
MY Belief: To gain an increase with Capital requires a certain income. Typically above 60K, history of on time payments PLUS a fico score in the 700's.
I will be ending my relationship with Capital soon!.
I have (had) three accounts with Capital one bank; a savings account, a premier checking acct and a high yield checking account. On July 2, 2014, I called to close out the Saving account as it was no longer needed. The savings account was closed out. On Monday July 7th, when I logged into my account not only was my savings closed out (which I had requested), but my Premier Checking was closed out as well! I had numerous NSF charges and a return items from my homeowners Insurance (auto deduct)!!! I called Capital one and spoke with a Manager and was told they closed the account. I proceeded to tell her I NEVER asked for this account to be closed. She indicated she would reopen account and all would be fine with my Premier Account, but indicated I would not see the change on my side for a day or two. On Wednesday, I logged into the account and it was still closed out and the balance on the account being mailed to me. I called and spoke with the same manager again, ONCE Again we went thru the same scenario of telling them I NEVER asked for the account to be closed out. With 3 returned checks and a denial for auto deduct on Home Insurance, I demanded Capital one call each of the accounts with NSF, with me on the line and explain the issue was CapitalOne' s fault, which she did.The account was reopened on Wednesday, July 9th. I called the "executive customer service team" (703)720-2500 and issue was still not resolved. I have done everything in my power to resolve this, but the headaches, the time taken and the utter frustration, not to mention embarrassing when a $30 check to my doctor is returned NSF!!!!
And now, This morning, Friday July 11th, the account was Closed AGAIN, without my permission, without checks being cleared!!!!
This is way beyond incompetence...my week has been a living nightmare due to CapitalOne Banks total disregard for resolving this issue. This is inexcusable and I would NEVER suggest anyone do business with Capital One Bank.