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steve6690

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Member since:29.04.2004

Reviews:1

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20.10.2004

Advantages:
None really

Disadvantages:
Inefficient and unreliable

Recommendable No:

Detailed rating:

Competitiveness of APR

Product package

Quality of Customer Service

Reward Scheme

Additional Charges

Security and Privacy

Ease of Application

4 Ciao members have rated this review on average: helpful See ratings
helpful by (100%):
  1. AnitaM
  2. sue.51
  3. torr
and 6 other members

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I had the Capital One Platinum Card for quite some time and never had any real problems with them. I never missed a payment and they kept upping my limit until it reached £9500. I maintained a balance of around £7500 as I'd used the card to pay for double glazing and their rate was around 10% which I found reasonable.
One month I checked my statement and saw that the amount of interest I had been charged had rocketed. I thought it had to be a mistake so I phoned them and got through to a call centre in India. I was told that my rate was now 15.9%. The reason given was "from time to time we review our rates and we believe we are competitive". He was competely unable to answer any of my questions and was clearly just regurgitating stock responses from a screen or chart. At the time Capital One were advertising the same card on TV with a rate of 10.7%. I asked how they could possibly believe that they were "competitive" if they weren't even competing with themselves. I kept getting the same useless response. I told them I was closing my account and was informed that it would be unwise to do so and that I should hang on because I was soon to be getting a "special deal" although he wouldn't specify what and when. I payed off the whole amount a week later but kept the account open to see what the "special deal" would be. Six months later and I'm still waiting. It was obviously bullshit. Do not trust this company !!

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Comments about this review »

sue.51 20.10.2004 12:10

The op could do with a little more general information on the card and company. I had a similar experience with Capital One Platinum, when they upped my rate by about 3% overnight, interestingly at the time I didn;t have a balance, and hence sent them to the big credit card heaven in the sky, but can't disagree and now give them a wide berth. Sue

MAFARRIMOND 20.10.2004 09:39

Thanks for the warning and welcome to Ciao. Maureen

olijt20 20.10.2004 06:56

Helpful review, I now know to avoid this credit card Oli

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Review Ratings »

This review of Capital One Platinum has been rated:

"helpful" by (100%):

  1. AnitaM
  2. sue.51
  3. torr

and 6 other members

The overall rating of a review is different from a simple average of all individual ratings.



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