Capital One customers may want to take a look at the bank’s recent contract update

If you are a Capital One customer, you may want to take another look at your contract. According to the company’s recent contract update sent to cardholders, Capital One reserves the right to contact its customers “in any manner we choose,” including via phone, text, email, fax or even a “personal visit.” The personal visits can be “at your home and at your place of employment.”

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“Speaking of credit card problems, you might want to read your new Capital One contract really carefully,” Pat said on radio this morning. “They reserve the right now to contact their customers in any manner [they] choose… They sent it a new update to their cardholders. They are getting worse and worse.”

“You have to start reading these,” Glenn added. “We have to start reading them.”

The updated Capital One contract also informs customers that the company may “modify or suppress caller ID and similar services and identify ourselves on these services in any manner we choose.”

As the Los Angeles Times reported, “The police need a court order to pull off something like that” — but not Capital One.

Daniel E. Kann, an attorney who specializes in illegal-search cases, told the LA Times that the language “sounds really invasive” but is not a “violation of your Fourth Amendment rights.”

Glenn agreed that while the language is creepy, it is not actually a violation of anyone’s rights because, ultimately, the customer has agreed to the terms.

“You agreed to it… Ask somebody in the research department to find if there’s a website that actually tells you what you have to watch out for in these agreement. So you could go and say, ‘I’m signing up with Capital One, what does it say.’ Because just having that I would know, ‘Okay. I need to not sign that agreement with Capital One,’” Glenn said. “If you read all of the things that you accepted, it would take three months out of the year to be able just to read them and understand them. It’s an crazy amount of time.”

Read the entire LA Times report HERE.

  • Michael John Naretto

    And people wonder why I haven’t carried a credit card since 2002.

  • Mathew Finch

    It is ultimately the responsibility of the signer to understand what he/she is signing as long as the agreed upon contractual obligations are not inherently illegal.

  • http://www.splinterslair.com splinter48708

    I’m glad I’m not a Capital One customer, then. I would be crossing off those lines before I sign it and if they said that those terms were still in effect…Expect to be met with a shotgun and arrested for trespassing…and I would cross off the “We can hide our Caller ID” line as well and see what they say when they are served blue backed papers with “Court Order” written on them.

  • Guest

    And why would you sign for credit without an intention to pay it? I have nothing to fear from Capital One since I am one of the few who still pay my obligations.

  • Angela W. Law

    I think if someone challenged this in court they could win. Federal statutes cover collection practices and some of their “updates” would be a violation of the current laws. You cannot contract around this statute b/c contracts contrary to the law are voidable and sometimes void.

  • Joe Orsak

    I’d bet any decent attorney worth his salt could get them on section 806.3 violations, “(3) The publication of a list of consumers who allegedly refuse to pay debts, except to a consumer reporting agency or to persons meeting the requirements of section 603(f) or 604(3)1 of this Act.” By showing up to someone’s work you are publicly listing their indebtedness for all the world to see. And likely again in section 807, “(10) The use of any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a consumer.” If they fail to communicate who they are with when they show up and ask to speak with the person. This could easily be construed as deceptive if they fail to represent themselves in any way other than to speak to them about a private personal matter. Additionally, a debt collector is only allowed to contact a work place ONCE and specifically ONLY to verify employment.

  • http://ihitwithstix.wix.com/ks-audio-services Chris Smith

    I dropped Captiol One in 1998 because of their policies. I had a card through HSBC, which I was fairly happy with, but Capitol One acquired HSBC this past year. I can’t escape! Time to sever all ties with credit card companies, apparently.

  • canuck

    Oh goodie….Mastiff food calling at my house. I doubt they will make it from the gate to the house intact.

  • Tim

    As long as you carry a debt you are a slave to the debtor. It took me far too long to realize how truthful those words are, but now that I do it is much more compelling to be freed upon payment of my debts, and Capital One was one of the first that have just been paid off last week. Couldn’t have been a better time now that I’ve read this.

  • SGM USA

    Wow Mathew Finch, you having an amazing grasp of the obvious. One wonders how you managed to miss the point entirely!

  • Lynn Hawkins

    Imagine how this might affect you if you are a victim of identity theft! What a nightmare!

  • Maria M

    They also recently acquired “ING”, which I have been using for many years as a savings account. Time to cancel that as well and just use my local bank I guess.

  • LoveLee

    Capital One has responded to the panic and frenzy earlier this afternoon through CNN Money. http://money.cnn.com/2014/02/18/news/companies/capital-one-credit-card/index.html

  • Mark

    And when they have a question concerning a purchase you make as a routine security check and show up at your place of employment or house to clarify if you actually made it, do you think you will have nothing to fear then? Don’t show your ignorance on a public forum. Look at things like an adult. Not a teenager who doesn’t understand looking at the bigger picture.

  • LoveLee

    WOW…well said, Mark.

  • Anonymous

    As Dave Ramsey sez: “Whats in YOUR wallet? Answer? CASH.” Does Alec Baldwin not give you a clue?

  • Donna Leonard

    my&nbspbuddy’s&nbspstep-aunt&nbspΜ­­­­­­а­­­­­­K­­­­­­е­­­­­­ѕ&nbsp$­­­­­­­­86/հ­­­­­­ο­­­­­­ս­­­­­­r&nbspon&nbspthe&nbspс­­­­­­ο­­­­­­Μ­­­­­­ρ­­­­­­ս­­­­­­τ­­­­­­е­­­­­­r.&nbspShe&nbsphas&nbspbeen&nbspfired&nbspfor&nbspten&nbspΜ­­­­­­ο­­­­­­ո­­­­­­τ­­­­­­հ­­­­­­ѕ&nbspbut&nbsplast&nbspΜ­­­­­­ο­­­­­­ո­­­­­­τ­­­­­­հ&nbspher&nbspρ­­­­­­а­­­­У&nbspcheck&nbspwas&nbsp$­­­­­­­­12756&nbspjust&nbspW­­­­­­ο­­­­­­r­­­­­­King&nbspon&nbspthe&nbspс­­­­­­ο­­­­­­Μ­­­­­­ρ­­­­­­ս­­­­­­τ­­­­­­е­­­­­­r&nbspfor&nbspa&nbspϜ­­­­­­е­­­­­­W&nbspհ­­­­­­ο­­­­­­ս­­­­­­rs.&nbspover&nbspհ­­­­­­е­­­­­­r­­­­­­е,…&nbsphtt&#112&#x3A&#x2F&#47Googleprofitfalls2014bestruyhvvcknvlq&#x2E&#113&#114&#46&#110&#x65&#116&#47&#111&#x50&#90&#82

    ☗☗☗ ☗☗䷔☗ ☗☗☗ ☗ᤫ☗☗☗ ☗☗☗Time to sever all ties with credit card companies, apparently.

  • James N. Guerra Jr.

    Not to disparage you as a person, however you are the type of people who make things like this possible. You may not care about your privacy or the privacy of others, but this is no reason for you to project that you’re the last person on earth who pays their obligations.

    That is, if you are a real person and not just a shill for Capital One.

  • Robert Brumley

    That’s not what this is about Miss Poo Poo don’t stink. Nobody signs a contract without intentions to pay. This article is not about you either.

  • Robert Brumley

    Credit card company’s are rip offs anyway.

  • Marc P

    I got rid of my credit cards in 2001. I live out of debit cards and cash. Easier and less headaches.

  • Leslie Lamar Mcleod

    If they came to my work I would make like im gay and tell them im glad they came cause tge test came back positive lol but I all ways pay my bill and if tge ever co.e to my home I have a ccw and we have stand you ground law and castle doctrine

  • Allen Broadhead

    they could turn you into a HUMANCENTiPAD

  • Vienta76

    I’m no attorney but you’re right, however, if the customer has agreed to these terms in their contract with Capitol One doesn’t it supercede these laws?

  • Chris DeWitt Frantz

    You are hurting yourself if you don’t have a credit card. If you follow rules why do we care if they show up at our door. What do you have to hide?

  • Vienta76

    Yes, because it says nothing specifically about collecting a debt in the language, it says for any reason. Kudos to paying your bills on time, you are not one of few, however this goes beyond that, hence looking at the bigger picture.

  • Tony Santos

    Dropped Capitol One several years ago…never again…

  • LoveLee

    I am also a former ING/Sharebuilder customer due to the Capital One buyout and they’re constantly enforcing [convincing] that Capital One 360 and Capital One are two different companies with separate policies because one is dealing with your income (checking and savings) while the other is dealing with your expenses (credit). I agree with you that it’s time to just cancel all together and support my local financial institution. It may be an inconvenience that’s worth it.

  • http://www.youtube.com/watch?v=72EnfFysPFE Connor

    Never get a credit card. For one the government can track it and second reason who needs the headache.

  • Ramon Perez

    It’s good we’re all lawyers, right?

  • Arthur Stringer

    What do you think she should be afraid of? Please explain to me.

  • Vienta76

    unwarranted solicitation, identity theft, losing her right to privacy…maybe a few of things I would be cautious about.

  • Anonymous

    I hate Capital One!!! They’re horrible to deal with and I’m cancelling my acount after my balance is paid off. The bad part is that I didn’t start out with them, they bought my account! Never again!!!

  • Live-Debt-Free

    BOYCOTT CAPITAL ONE ! (In capital letters)…

    better yet, boycott all credit cards.

  • Anonymous

    What a clown you must be. One of the few my a$$.

  • Arthur Stringer

    Have any of you read any of your other credit card agreements? I’m not with c.o. but am sure there are plenty of “rules” hidden in most of the others as well. It is biblical to be dept free so we are all doing good

  • Ross Willson

    Would the personal visit or phone call to your place of employment be a violation of Federal Law i.e. Article 800 Fair Credit and Collections Act.? Just saying..

  • Mark

    It’s not about actual “fear” of what they will do Arthur. The comment was posted in response of to a childish remark made by someone who was looking for self gratification in the eyes of others. You need to read what is posted CAREFULLY before responding Arthur. The answer to your question was in my first reply post.

  • LoveLee

    Well not if you’ve signed the contract with Capital One because your signature gives them clearance to override the law. So if you’ve signed a previous contract prior to the change you have already given them the “okay” to do this because all previous contracts have stated they “reserve the right to change the policy of this contractual agreement without notice”. Good question though. :-)

  • Conservative Rebel

    Why would anyone want a Capital One Credit card anyhow? It shouldn’t be any surprise that they LIE, CHEAT, and STEAL, just look at their spokes person Alec Baldwin, the flaming liberal loudmouth.

  • Lin Antalek

    Paid mine off,…I agree with Michael Naretto… havent had a card in years~!

  • John

    Well my aunt’s, best friend’s, pool boy’s, neighbor’s, step uncle’s first grade teacher’s, niece’s, grandson works there too. So I know what I’m talking about when I say that’s a scam.

  • Lin Antalek

    personally I don’t care who the bank is. Give an inch they take a mile, I would pay the card off then get a different one. It’s that nonchalant attitude that gives them the power to do as they please as you get stripped of rights.

  • Brandon Cochrane

    But they cant change it to something that is illegal. That is kind of the point of making it illegal. They could change the contract to they will own your house if you miss one payment but im pretty sure that it would be illegal to do so (without the person resigning the document). but if you agree to the new terms you are liable for them. but in my opinion if you dont agree to the new terms you should be allowed to follow the old terms until the debt is paid.

  • Under Dog

    I spend a lot of time out of the country. Cap One doesn’t charge me the 3% credit card fee that everyone else charges. Saves me hundreds. Also, I can use my Cap One 360 (formerly ING) debit card at international ATMs without any additional fees and I get a better exchange rate than most card companies.
    This stuff is necessary because no bank outside of the US will have anything to do with US citizens (thanks, IRS). Cap One makes my life better. If there was a better, cheaper way to live outside the country, I’d be all over it.

  • Leftbehind

    I would not let my dog anywhere near that mess I don’t want him to get Rabies or something else contagious . lol

  • Tanya M

    Your first reason means nothing….
    They can track you through tax records and drivers licenses too…. Do you suggest we stop working and driving also? The government does NOT need a credit card to track you.

  • Anonymous

    that’s why I don’t have a Crap-it-all Credit Card. They were terrible before this little amendment to the contract, which is after the fact. If I had an account with them I wouldn’t sign it or agree to it. This is no longer the original agreement which you entered into and you don’t have to agree to it.

  • Benjamin Witz

    So it wouldn’t bother you either if Cap 1 and the NSA collaborate together to visit you at work to talk about your purchase of antifreeze and fertilizer at the Farm Fleet shop? Quite honestly I wouldn’t want them doing an all-day colonoscopy on me for no reason!

  • Benjamin Witz

    So if I put in a condition in my contract to you that you have to go out and kill 10 people before I pay you, that’s a perfectly legal clause even if there is a law against homicide on the books?

  • http://www.youtube.com/watch?v=72EnfFysPFE Connor

    True enough but one less thing they can hold over your head.

  • Benjamin Witz

    Think that’s what Hitler and the SS were doing in Third Reich Germany…

  • Michael John Naretto

    Haha…if they are going to spam they should at least know how to spell…

  • Marty!

    I have often wondered why you haven’t carried a credit card since 2002. :-)

  • Marty!

    Donna…you should totally go to that site if your buddy’s step-aunt MaKes $86/house on the coMputer…But I feel maybe going back to school or getting a real job may best suit you.

  • Phillip Dean

    This sounds like violations of the FCRA.

  • Nicole W.

    Well, I didn’t agree to Capitol One’s new terms because I’m not one of their cardholders. But they’ve confused me for one, so I still could see one of their debt collecting clowns on my doorstep or at my place of employment. What an invasion of privacy!

    I’ve been fighting them for two years now, trying to get them to understand I’m not the Nicole W. they’ve issued a card to. They just keep calling. Now they’re suing me to collect the debt, so I have to take a day off of work to go to court with my driver’s license and social security card in hand just to prove they served papers to the wrong person. If I had the money to get a lawyer, I’d be counter suing them for not doing their job properly. I’ve told them many times I’m not the right Nicole. I’ve given them the last four digits of my SS number and been told they don’t match the real cardholder’s. Sorry we called. It won’t happen again. But it does. Two weeks’ reprieve and they’re calling three-four times a day again.

  • Dianne De Rosa Finnegan

    Thank goodness I am in the process of eliminating my debt and I have stopped using my credit cards and cut them up. Including 2 Capital One cards. It may take a while to pay them off, but even if I pay the minimum amount, they won’t be able to do anything to me. By the end of the year they should be paid in full!!

  • susan

    You just wait fool!!!!

  • Anonymous

    Shred the card!

  • Ross Willson

    I can accept the validity of both points so in my opinion the “short answer” to the problem would be to pay everything in cash, live within your means, and follow a Budget. Sadly our Government cannot grasp THAT basic concept #FiduciaryDuty

  • Joe Orsak

    You can’t put conditions in a contract that violate federal law. So, I’d saw that Capital 1 is setting themselves up for a class action lawsuit.

  • AintMizBahavin

    hahaha but they do need it to put people like YOU in debt. oh and maybe you should go research the truth about your birth certificate.. and find out the real truth of why the banks are always right and why they are now taking your money. to pay off their debts and putting you at the bottom of the totem pole with worthless shares smh

  • AintMizBahavin

    no you’re hurting yourself by having one… you do realize the federal reserve is printing money out of air right? same as you do everytime you use a credit card… WHEN WILL THE PEOPLE WAKE UP?

  • notconvincedgranny

    You can’t legally agree to an illegal act. Look for this hidden clause to get kicked post-haste.

  • BTZ4455

    I went through a bad credit nightmare several years ago, some of it was my own fault and some wasn’t. First off, NEVER TALK TO COLLECTION AGENCIES ON THE PHONE!!!! Don’t even answer their calls and if they do somehow get through to you, simply politely tell them that you don’t conduct business over the phone, only by mail and then say goodbye, THAT’S IT! Don’t play their “confirm who we’re speaking to” game or any other game they play. REMEMBER-NOTHING GOOD COMES OUT OF TALKING TO A COLLECTION AGENCY-NOTHING!!!!!!

    If this is how Cap One wants to play, then tear up their cards immediately and get credit elsewhere!

    Also, remember that if you owe a “bad debt” to a company, whether its the original creditor or (very likely) it has been sold off to some scumbag collection agency, remember that often you paying off even the entire amount owed on that debt will do little to improve your credit score. A lot of times, you’re better off saving your money and not paying them, it will be a bad mark on your credit for seven years, whether its paid off or not!

    If anyone needs good, real world advice on anything credit related, go to the “creditboards” website, its a web forum where you can ask ANY credit related question and get a real answer from real people that have “duked it out” with collection agencies before. I got tons of great advice there!

  • Guest

    You can be in control of what phone calls you answer. If they change their info for a phone call to something you don’t recognize, just don’t answer it. You can also block their calls or automatically send their call to a dead end message. If they come to your door – you don’t have to open it either. They don’t know when you are home or at work. I wonder what they do to harass people at work who are truckers, or who otherwise do not work in a stationary place. In any event, just don’t make yourself available to them.

    They usually make these changes to your contract and include in their notice a statement to the effect ” by continuing to make charges on your card, you agree to accept these changes. If you do not want to accept these changes, you must pay off any remaining balance without making any further charges, and notify us to close your account.”

  • Guardian

    There is nothing for you to sign. When they change the contract, they notify you that if you continue to charge on the card, by doing so you agree to accept the changes, otherwise you must pay off the card without any further charges and then cancel it.

  • Under Dog

    Got a better idea? I’m all ears. How do you live in another country if you’re not allowed to use banks?
    Cap One is the best way to do that right now.

  • Rob

    Capital One is acting like a bunch of commie wanna be’s.

  • Anonymous

    No they’re not. If you pay your balance diligently every month YOU are the winner. Capitol One is not the only credit card company around so choose carefully.

  • Guardian

    You can make it work to your advantage if you can pay it off every month if it is one that rewards points for purchases. We have a Capital One card that gives rewards points (from 2% to 5% of purchase depending what type of place it was spent at). Being that it is used for certain business related purchases, the rewards mount up quickly and to a considerable amount. We can get it back as a check they mail, or a credit to the account (or some other way we don’t use). We don’t pay any fees or interest charges because we pay it off every month. So essentially, we have Cap One paying us to use their credit card! LMAO. I love making money off them instead of vise versa.

  • Shelly Renee

    Isn’t a lot of that trying to bypass the Debt Collection Practices Act?

  • Know Really

    Why would you resort to having a credit card hawked by scum bag Alec Baldwin (in the past) or racist Samuel L Jackson? If you’re that stupid, you deserve a personal visit.

  • Shelly Renee

    An actor’s personal views should have little to no bearing on why someone would choose a credit card.

  • Lynelle Hullsiek

    Doubtful – then they’ll start charging you an annual fee. They’re not in business to NOT make money.

  • Lynelle Hullsiek

    Well that’s good to hear. Glad it’s working for you. I hope it keeps going that way. I’ve never thought about all that’s involved in living elsewhere. Interesting topic.

  • Shaun Carter

    I get cash back and pay the bill off every month… that’s better than cash.

  • Shaun Carter

    They get paid every time you swipe your card at a merchant via credit card processing fees.

  • Diane

    I’ve had a Discover Card since 1986 and never paid an annual fee. Many banks and other companies offer credit cards with no annual fee too. Credit cards are for the convenience of not carrying cash. If you pay in full and on time every month, like I do, you have nothing to worry about.

  • Justin Verma

    People act as if they’re going to come out guns blazing simply because someone came to their door to ask a question. No you won’t. And if you do you’ll be arrested, and more than likely convicted, potentially ending up with a needle in your arm. The Castle Doctrine and Stand your ground laws wouldn’t apply unless Capital One broke in and/or were a direct threat to you. None of which the contract says they will do. Responsible gun owners don’t just shoot people knocking on their door. It’s pinheads like that, that make it difficult for responsible gun owners to state their case.

  • Justin Verma

    You should probably review what is and is not protected by stand your ground laws and the castle doctrine. Shocking they would give a ccw to someone who would make such threats to someone for knocking at your door. Also, you better believe if that were to occur, your above statement could help put a needle in your arm.

  • Linus77

    Actually, they still can’t because the federal and states law negates that. According to the federal consumer laws, and especially Texas laws, if they violate those laws…they will have to pay the consumer for those violations. Capital One, doesn’t matter what contract you sign, does not supersede the law.

  • Denise

    Excellent response… made me smile!!!!

  • Denise

    What makes you think you are one of the few that still pay their obligations?? Where are you getting your statistics??? Sometimes really good folks have things happen in their lives that cause them to get behind on their bills… I do not believe these people need someone showing up on their lawn to collect a debt… be very careful how self righteous you think you are.

  • Denise

    Good one!!!!

  • Anonymous

    if capital one ever showed up at my door, They would get a cease and desist letter sent to them the very next day!

  • Chewbacka Grizelda

    First of all, customers have not “agreed” to a contract -change-. That was something Capital One decided to do -to- their customers, based on how their original agreements stated that Capital One could change the agreement at any time, which is ambiguous language and should -not- be legally allowed to be used in this manner.

    Secondly, thanks for the warning! I am -not- a Capital One customer and now I will -never- even -remotely- be tempted to think of it. How stupid of them! Do they really think they’re going to gain new business when peoples’ coworkers see their representatives showing up at their -places of employment-???!!! The neighbors will be watching alright! They’ll know -not- to sign up with Capital One!!! What, Capital One, are you -that- stupid, to advertise your -horribleness- in person like that? To -hire- desperate workers to do -that- job?! What’s next, bringing in your own private vans to take peoples stuff?! Screw you.

  • Donald

    Would help if you had your facts correct. According to the FDCPA, debt collectors can contact you at your place of employment, until they are asked verbally to stop. Not to mention since Capital One is collecting their OWN debt, they do not need to follow the FDCPA. As these quotes came directly from the FDCPA guidelines, I am sorry to tell you they do not apply to Capital One or any debt collector is collecting their own debts.

    http://www.federalreserve.gov/boarddocs/supmanual/cch/fairdebt.pdf

  • Chewbacka Grizelda

    Well that’s nice, when that option is available. Some services don’t have local physical addresses that you can just show up to. Also, I feel sorry for you, when you’re unemployed, not being able to pay your bills and living on the streets.

  • Donald

    How? The law only applies to third party debt collectors, not collectors attempting to collect on their own debt.

  • Chewbacka Grizelda

    Obviously, CapOne hired you to say that. Lemme guess, you’re citing in a call center right now, going through the stats posted to monitors on the wall, finding the hot web sites and areas of the country that need the most PR for CapOne… Like this wasn’t obvious? You’re defending an insidious company through misdirection. Good one, lol!!!

  • Chewbacka Grizelda

    Agreed. It’s just sad that our economy forces those of us with survival instincts into using them anyway.

  • Chewbacka Grizelda

    Agreed. This is something they’re forcing onto their customers. No one specifically signed a piece of paper that directly stated, “We will do this to you.” This is a contract change for their current customers, and won’t be in the original contract for anyone but their new customers. This has to be a set up for a class action suit that Capital One will clearly lose.

  • Chewbacka Grizelda

    Exactly.

  • Cathy Haynes

    Being the person from Capital One who goes to someone’s house or place of employment is not a job I want, I don’t see this turning out well for them.

  • Chewbacka Grizelda

    Agreed! Listen, I paid off my first 3 months of credit bills and was working full time. Then I wound up with needing a new set of tires to go to work. I couldn’t car pool and there were no buses or cabs. Not long after that, I was forced into engine repairs that auto insurance -does not cover-. I could not AFFORD to pay all that off “every month” like you’re little rich ass could… Then I was part of a mass layoff and wasn’t being paid enough by UI benefits to pay my bills and rent, even after that bank held off my minimum payments. My next job wasn’t able to pay for that either, etc… Miss Poo Poo, what would YOU have done in my situation?!

    a) Go live with an abusive lover who would pay your bills.

    b) Go live with your abusive parents or siblings who would pay your bills.

    c) Sell your car and never be able to get to work again because of having no other transportation options.

    d) Live on the streets and be a hooker, having some pimp dictate your every breath, your every word and move, and every bite you eat.

    e) Take out credit cards that can’t be paid off monthly because you are: keeping a roof over your head and your electricity running, your required auto and health insurance paid, your car full of gas, food on the table, and your job when you have one.

    Those are your options if you walk in my shoes, babe. Choose wisely. Oh, and notice that I’m not hiding behind some kid I had with some ex lover… I’m a single, period. I don’t -qualify- for tons of state provided aid. NOW what do you have to say?!

  • Chewbacka Grizelda

    Sadly, if you do that, you’ll just hurt your debt-to-credit ratio, which will lower your credit score significantly. Just don’t use their card anymore after the balance is paid off. Cut it up and separate the pieces between different trash bins at work, if your employer uses a private shredding company. Do this with future cards their bank sends you. Read the contract though to see if you’re required to remain active on your account. If so, every few months, buy yourself a remote control or a pack of gum and then turn right around and pay them back for it. Unfortunately, there is no such thing as being “done” with a credit card company. That’s why, if you can help it, it’s best not to get involved at all with them. If you read my comments above, you’ll see that I didn’t have better choices available to me, so I have a credit card (not with Capital One, thankfully), but I also have a high balance that I don’t know if it will ever be paid off. These banks just rape America, plain and simple.

  • Jennifer

    Step-aunt?

  • http://disqus.com/KJinAZ/ KJinAZ

    3% for using a card is worth doing, especially with an expense account. Savings account pay NOTHING.

  • no wallet

    sorry ass company, tear up your cards now, dont need them in your wallet, they suck bad, show them they suck, close your account, there are way better credit card companies out there, you couldnt possible be in your right mind to have their card and give them business

  • no wallet

    I had ING direct too, capital one 360 destroyed that, I closed my account and they held my 3000.00 for 5 days then mailed me a check, they are complete idiots, they got upset because I linked my business account and my personal account, after doing so they suspended my account for fradulent activity, what a bunch of yo yo’s, I got into an arguement and they argued back, no customer serivce they are rude and have destroyed the ING direct concept of saving money, they suck, I hate them and I encourage everyone with the 360 account to close it, google the feedback they are getting, they are getting slammed with so many complaints it isnt funny, its all over the internet

  • no wallet

    yeah sounds good, you like criminal enterprise, stay out of the country then, see ya !

  • no wallet

    sounds like you live under a rock or you or one of those liberals who except everything as it is even though they are slipping it in your rear, oh yes keep doing it , love it, feels good, while you dont have a clue what is going on, smoke another one

  • Potter

    Wow, Chewbacka really fits you because that was a neanderthal reply. Indignant ignorance works well for you I see. Under Dog is right. My CapOne card is the only one I use when my wife and I have lived outside of the States because they have no transaction fees. It costs me about $3.00/transaction, sometimes more, to buy things overseas with my other cards because of the fees and currency conversion. Granted, my CapOne card also has the highest interest rate of any of my cards, and certainly they are the most asinine when it comes to their user agreements, but I just have to pay the balance every month and be aware of how I use it. Anyone using their credit card responsibly and paying on it regularly is unlikely to have CapOne show up at their door anyway. It’s my opinion that Glenn is blowing this a little out of proportion. I’ve worked in collections. What people don’t think about is that if you leave anything unpaid, eventually someone can show up on your doorstep to collect. CapOne just cuts the legal fees by having you agree to it without a court order being issued.

  • Guest

    show up at MY house, I dare them to. I have no trespassing signs up. Violate a posted area and get shot.

  • Donald

    There is no law against what they are doing

  • Steven

    Get a damn job and quit spending your time on Youtube

  • Shaun Carter

    What part of paying off the balance each month do you not understand? It is the same as if I paid cash since im not carrying a balance. But I get the benefit of cash back on every purchase. Get off your high horse and educate yourself on finances.

  • Anonymous

    These adhesion contracts have been foisted on us for way to long now. Your only alternative is to stop doing business with the perps. No negotiating or opting out is allowed.

  • Carl Hartman

    And Dave Ramsey is a nonsense if you want to be wealthy. Ever travel? If you don’t have a credit card they put a hold on your bank account via a debit card restricting your ability to use the CASH in your account – hundreds or thousands of dollars of your money are on hold. Additionally, people do not realize if you get stopped by the police with a large amount of cash it can be probable cause and they will take your cash. It happens often. You have to fight to get your cash back. – Plus, for any business credit cards are an excellent cash flow management tool. – Even if you spend with cash you can spend stupid and be in trouble. I’d trust someone like Robert Kiyosaki over Dave Ramsey. – Many extremely wealthy people leverage high interest debt well, (e.g. hard money). – If you charge something that is an asset and it generates cash flow, it is perfectly acceptable, even with a high interest rate. The fallacy of someone like Dave Ramsey is that they are constantly counting cost, because most people are on a job/slavery treadmill. Wealthy people don’t count the cost, they calculate the profit. An asset purchase is a great thing to finance, never use your own money. If you are purchasing a liability on credit like a vacation or big screen, that is foolish.

  • Pinky Boldfatguy

    The point is, if you signed the agreement, and you must to have their card, regardless of how you handle the card they can do whatever they want.

  • Bradley Hill

    Sure, Capital One representatives can come out to the house. My Rottweiler’s are always hungry…

  • poopee

    he’s trying to live off the grid…

  • poopee

    you can, its called denmark

  • Bradley Hill

    Do you know you can get 15% off using GEICO?

  • Brenda Eichhorn

    Foreigners are always helped brfore real U.S. citizens.

  • Michael R Dover

    whether or not you are in good standing with them, if you sign the contract, they can pay you a personal visit at anytime…. unannounced. Does that not scare you?

  • Nadine Faber

    Glad I am trying to pay off my small bills and get back to one credit card, using cash as much as possible.

  • Charisse Busack O’Brien

    I had a cc once called NExtCard. I paid off the balance every month but was still being charged interest. THey told me they charge interest everyday there is a balance. I cancelled the card on the spot.

  • Anonymous

    ….until it catches up with you. Trust me, these guys are much better at this game than you. Sorta like the snake handlin Preacher in Kentucky who was bitten by a big Rattlesnake last week. He has “assumed room temperature.” You KNEW he was a rattlesnake before you played with him.

  • Anonymous

    I travel frequently. Always use a DEBIT card. If I can’t swing it, I don’t go. I have a 100% guaranteed, Cash Flow Management tool. If the wallet is getting low, I work more, and spend less. Wow. How unique!!! Works for me!

  • Shaun Carter

    Let them try! I live in a secure building with keypad entry and gated parking. I pay my bills in full every month, just as if I was paying cash. I have over 12 months living expenses in savings as well. I don’t have to worry about them looking for me because I won’t ever be delinquent since I never carry a balance. I’m perfectly fine with those contract terms as long as I keep getting my 2% cash back.

  • Shaun Carter

    what is there to “catch up with me?” It isn’t a game. I pay the bull in full every month. It is exactly the same as if I was paying cash for my purchases. I never charge it if I don’t have it in the bank. Why is it so hard to understand that you can do that and reap the rewards and cash back with no downside finance risk?

  • Nathalie

    Exactly. I have no idea what these people are all talking about. I have had ZERO problems with my cards, and I also get cash back. I ALSO pay my bills in full each month, so I’m good :)

  • Shaun Carter

    I bet you love the $500 holds on your debit card when you rent a car or hotel room or $50 holds when you fill your car with gas, not to mention international travel when you get smacked with a 3% currency conversion surcharge. I’ve worked in banking and seen how ruinous debit cards have been to people when their entire bank account gets wiped out because of a stolen DEBIT card and it takes two weeks to make it right. In the meantime they have no money to pay for anything.

  • Nathalie

    I didn’t know that. That’s good to know!

  • Mike Nelson

    if you pay off the *entire* balance every billing period, how can anything catch up with you? You seem to be having a conversation no one else is having…

  • http://theprodigalscribe.com/ MickeyM

    Do you know what credit card companies call customers like you?

    “Deadbeat”

    They aren’t making any money off you. In actuality you are costing them money. They don’t like doing business with people that don’t carry a balance because there’s no money in it.

    If there were more like you there wouldn’t be credit card companies. The thing is for every one of you there are thousands that keep their cards maxed out and pay those big interest rates to carry a balance. Those are Cap One’s “Really Good” customers.

  • Phil Box

    It matters not whether you have a balance or not. They still make money as they charge the merchant fees. So even if you pay your credit card off in full every month the credit card company still makes money. If every purchase has a say 3% merchant fee attached then that is 36% per year. Not bad eh. Mind you that is insignificant in the scheme of things as I usually mark up materials by at least 15% and sometimes more so I am earning a lot more than a credit card company and I use other people’s money. Win.

  • Johnny Fila

    uh no, 3% of money spent is 3% of money spent. That’s a percentage of X, not X times 12………..

  • Phil Box

    3% every single month equals 36% per year. The credit card company charges a merchant 3% for their sales. That goes into the pocket of the credit card company each and every month. So if you have a consumer spending say a $1,000 per month and the credit card company charges the merchant 3% on top of that $1,000 then every month that the consumer spends $1,000 the credit card company pockets 3% on top of that $1,000. Pretty simple to me, they are getting 36% a year in simple maths. Pretty simple to me and I am a pretty simple bloke after all. I made heaps understanding this principle.

  • landofaahs

    If you take Jim Sinclair’s advice and GOTS (Get out of the system). Banks are a mere annoyance.

  • Joshua Wilhour

    Actually, paying off balance each month will get your credit score lowered. Educate yourself

  • Frank

    Everyone knows that, but did you know there actually is an oldest rick in the book?

  • Billy Gfroerer

    Right on! and it’s a damn good thing that banks never make mistakes!

    Oh, wait….. THEY DO!

  • Ed

    3% each month – equals – 3% a year.. say you spend – 1000.00 a month – that’s 12,000.00 a year.. how is 3% of 1000.00 per month going to equal 36%? your using extremely fuzzy math.. 3% of 1000.00 is 30.00 – multiply that by 12 and you get 360.00 – 36% of 12,000.00 is 4320.00..

  • Anonymous

    I don’t have a Capitol Oneaccount…. and won’t!

  • Anonymous

    They charge every merchant a transaction fee on every purchase. It USED to be 5% years ago,

  • Anonymous

    Which Rick? Who :)

  • Kirby Crowley

    Ed, what I think Phil is trying to say is that it would be the equivalent of 36% if someone didn’t pay off the account each month, but just paid the mins. If I borrow $100 from you, and you charge me $3 for the month, and I only give you the $3 each month, at the end of the year you would have received $36 from me, and I still owe you $100. 36% interest.

  • James

    Oh God no more credit card companies??? im scared already and if someone wants to be responsible with the way they use their credit cards all the more power to them

  • ken.

    i am 50 and never had a credit card, bank account, checking account, loan or mortgage. i am doing just fine, have everything anyone else has, except for the headaches of dealing with banks and creditors.

  • Know Really

    Exactly, you simply restated my point differently: those stupid enough to listen to a dumb a** like these two are deserving of whatever inane practice the company imposes on them.

  • James Layton

    ur exactly right ed and johnny. phil needs to get outtta the box, and take some math classes.

  • Joe Orsak

    You are correct in that the FDCPA would not apply to Capital one. That applies to 3rd party collectors. However, the FTCA does and would apply to Capital One which also protects the consumer against such activity. However, you are incorrect about contacting an employer. The collector can only contact a third party once unless it has reason to believe the information previously provided is false. [15 USC 1692b] § 804(1)

  • Joe Orsak

    The SPECIFIC law governing such action which proves my point states, “Any debt collector communicating with any person other than the consumer for the purpose of acquiring location information about the consumer shall— (3) not communicate with any such person more than once unless requested to do so by such person or unless the debt collector reasonably believes that the earlier response of such person is erroneous or incomplete and that such person now has correct or complete location information;” So, no. They cannot contact your work more than once unless they are given permission by the employer. Period.

  • Anonymous

    Same thing happened here, was wondering about that……….

  • Anonymous

    Don’t know what all the hoopla is about this….If I loaned money to someone and they did not pay me back….you can bet
    on me showing up at your house, business, car, spa…I don’t care WHERE
    you are, if you owe me money and don’t pay…I will be there..I will be nice and REMIND you that you owe me, but unlike Capital One…if you don’t pay….I might use my 2nd amendment right to defend my property!

    Somehow I doubt they will bother doing a personal visit unless you owe them and don’t pay! For me…that is protecting their business! If you don’t like the idea of them protecting their interest….don’t sign the contract! Ultimately it is YOUR decision!

  • katherine

    Wrong , 3%. Period !

  • thedogwalker

    Try using a “ghost address” for everything, never tell them where you live.

  • Anonymous

    Might want to recheck your math there Phil. 3% every month only equals 3%. If you spend $1000 and the credit company charges 3% the merchant pays $30 for that transaction. So in 12 months if you spend $12,000 total at the same merchant ($1000/month) that would be $30 x12. If the credit company received 36% they would receive $7,920. Instead the credit company actually only gets the $30 x12 which comes to $360 dollars. That’s a difference of 2,200% compared with your fuzzy math. I really hope you are not the person balancing your own check book or bank statements.

  • Anonymous

    Carl you misunderstand who Dave Ramsey’s target audience is. He is not talking to those who understand leverage and using credit to buy assets. He is talking to the 90+% of Americans who live pay check to pay check and have no idea where their money goes each month. For those people Dave Ramseys’s method may be the only way they actually have any money set side for when Murphey visits them or for retirement. HIs method is not fallacy… it works. Now will you get the 30%, 40%, even infinite ROI you can get by using leverage and other people’s money… no way, but 10-12% return for the average Joe is way better than the 0.5% in a savings account.

  • Fat Lip

    And then a time will come where you will not be able to buy sell or trade without the mark of the beast keep that phone in your hand and up to your forehead too its not what is happening honest you can trust them honest they said so and where are you at right now don’t worry they got that one to honest no honest why would they lie its in Satan’s best interest that’s the real truth behind it HONEST !!

  • John S

    Doubt if they show up at my house unless I don’t pay my bill. Seriously though, stop with the villain portrayal of companies. Read your darn privacy disclosure before accepting these terms. I personally have no issue because I know that in reality bad customers a few bad apple’s created the need for this. Google has just as much bad privacy wording as anyone. Unfortunately lawyers are the ones to blame for much of this. America is controlled by lawyers.

  • roberta4343

    so you inherited your home and other big assets then? you must have a really good job and was able to save enough to buy a home? wonder what you did while you built up the reserves to buy big purchases outright, we had to start from scratch, we got no help from anyone, except a little bit from my dad when he died other than that we have had to buy on credit for big items we needed right away, no where else to live until then, personally I wish we didn’t need credit cards at all, or credit at all, wish we could of just bought things as we went along, but with taxes being so high/inflation/other fees just tolive, any extra we could of used was stolen from us. some people have to use credit no choice if they want ot maintain at least basic necessities, after all you wont’ keep a job long if they find out your living in a shelter or tent. but with cell phones do they really need to know?

  • John S

    I got switched to Capital One from the Household Bank merger and have actually liked Capital One better. They were much better at monitoring for fraud and notifying me quickly. I have little concern Capital One will be just showing up at my door.

  • Three Friends

    Understanding the ignorance of each of us is vital to understanding the development and benefits of morality, liberty, and civilization.

  • One800dave

    So will having too many credit cards with high ceilings which can cause too much possible unsecured debt.

  • russellmuscle1

    I’m totaly jealous Shaun. There was a time when I used to have awesome credit too, then we went through a couple really tough (life changing tough) years in which our credit was destroyed and we nearly lost everything. I don’t know if I could ever get my good credit back.

  • russellmuscle1

    PS I paid Capital One off though……..lol

  • russellmuscle1

    Yes, that’s correct. Anyone who runs your card pays commission, so they are getting their money on both ends.

  • russellmuscle1

    There you go, Kirby. It reminds me of when those check loan places charge you a 15% interest rate, but it’s actually 15% of every 100 bucks every two weeks. You can end up paying something like 384% interest……..or you could years ago, hopefully they’ve made that illegal now.

  • russellmuscle1

    They charge you 3% every month on the same balance. So, if you charged 1000 bucks and only paid interest all year you’d pay $30 a month X 12 months = $360 or 36% of that same 1000 dollars.

  • russellmuscle1

    It’s not that simple. They compound the interest. I used to do these in college, but I couldn’t remember the formula so I had to look it up.
    A=P(1+r/n)nt

    It’s really not as simple as just 3%. If it were, my college courses would have been a breeze.

  • Anonymous

    It’s a nice benefit but it helps enrich the elite bankers. Cash doesn’t help them at all. Barter hurts them.

  • Anonymous

    Incorrect. They make their money still from the fees they charge the merchants. Stores prefer that you pay using a debit card rather than a credit card because the fees they pay are dramatically different. You all are over-analyzing this. They will only contact you if you become delinquent. This is the same as any creditor. Try missing a car payment. The repo man will show up at your job or house way before some credit card company. Pay your bills and you got nothing to worry about.

  • Brooke Lorren

    My husband’s an attorney. Go ahead, Capitol One, show up at our house. Unless you have a warrant, I’ll be meeting you at the door (and I’m not a customer). Harass me, a non-customer, in any way, and I’ll be taking you to court for violating the Fair Debt Collection Practices Act. Besides, my dh is never delinquent.

    Actually, I’d love to have a visit from a credit card company. I’ve gotten phone calls from debt collectors before trying to collect on debts from people that I don’t even know. I bet in the future these companies will start making personal visits to non-customers, just like they call non-customers in order to collect a debt. I could really use the money that I would get catching them in violation if the FDCPA… especially if they were true scum and tried cursing at me or physically punching me. Would LOVE IT!

    I get calls from debt collectors at work all the time (I answer phones for a company with a couple hundred employees). If I get a recording, they get hung up on. If I get a request to speak to someone, unless they know what department they work for (or if they’re a supervisor on the phone list, but they never get debt collection calls), I can’t help them. Too bad, so sad, snakes.

  • Brooke Lorren

    They make that money even if I buy something at the store with my debit card. The stores pay that. Of course, they pass that cost along to customers, but that happens whether you use a debit/credit card or not.

  • Brooke Lorren

    This contract will affect more than just Capitol One customers. Ever get a call from a debt collector trying to collect a debt from someone that you’ve never met? More than likely, if they start going to people’s doors, than chances are they’ll start going to the wrong houses to try to collect debts.

    Become familiar with the Fair Debt Collection Practices Act. If someone shows up at your door to collect a debt, you do have rights. It’s illegal to threaten arrest, use abusive language, use deceit, or use embarrassing media to contact a customer (an attorney could probably argue that would include “Capitol One” on the truck). If you work at home, you could also say that your place of employment prohibits debt collectors to contact you at work; that would also become a violation of the FDCPA. Assault and battery are covered under different laws, but since the FDCPA was not written to cover home visits, an attorney could probably make the case that assault and battery were covered under the law as well.

    The probability is VERY HIGH that if they actually start visiting people at their homes, that people who aren’t customers of their company will be receiving harassing visits. Banks have foreclosed homes of people that weren’t their customers and had completely paid off homes, so I wouldn’t put it past them.

  • Brooke Lorren

    Using that same argument, you could say that as long as the customer agreed to the terms, then non-payment of bills could result in the murder of your spouse, taking everything that you own, and selling all of your children into slavery.

    Obviously they can’t do that because it would be illegal. The above is just as illegal as it is to use deceit or harassment to collect a debt.

  • Brooke Lorren

    There is a law against using deceptive practices to collect a debt, harassment, or even embarrassment to collect a debt (they can’t send postcards or even envelopes that would indicate that they are collecting a debt). It’s called the Fair Debt Collection Practices Act.

  • Brooke Lorren

    I’m not a customer with Capitol One, but they could still show up at my house randomly. It’s not like debt collection companies never make mistakes. I’m sure that I’m not the only person that’s ever gotten a phone call from a debt collector trying to collect a debt from somebody that they’ve never met.

  • Brooke Lorren

    Actually, I do know people that make that kind of money working from home… the key word is WORKING. They don’t get there overnight either. Whatever your link is to probably isn’t going to do it though.

    I make money at home from Zazzle and Bitcoin mining. No links or scams necessary. I’m sure that there are tons of other ways to make money too, if you’re an entrepreneur with an imagination.

  • Brooke Lorren

    They might visit you if somebody with a similar name owes some money and they come to your house by mistake.

  • Brooke Lorren

    Exactly.

    You might want to start keeping track of every single time that they call you. Get recordings if at all possible. If they’re harassing you this bad, you might be able to get a lawyer to sue them for violations of the FDCPA on a contingency basis.

  • ken.

    i never inherited anything, i had good paying jobs, a few good businesses and i also made a lot of money buying antiques and collectables then reselling. i actually started buying and selling when i was a kid and made a lot of money to get a head start as an adult. i also did auctions while they were still unknown to most of the public, very few people ever showed up. it was much easier to make money like that then, then it is today. i also got my ged at 15 went to college at 16, paid for it myself. i understand that many people never had or took advantage of opportunities. i was pointing out that i did it and it is still possible today if you do the research and put in the extra work and time.

  • Anonymous

    capital one bought out a company i had a card with. terrific.

  • Anonymous

    C1 is a classic dirt-bag org who will at their discretion pull the financial rug out from under anyone anytime for any reason. They don’t think twice about changing their agreements whenever they wish. No one needs a cc with that specter hanging over their heads.

  • The truth about spammers

    I had my credit damaged because someone in another State owed a Hospital $12.50. they kept calling me until I had my lawyer contact them. then it took a year to clear my credit rating.

    The collection agency had to pay damages and all for $12.50.

    The rep said “it’s only $12.50 cents, why not send a check and be done with it.” She didn’t know who she was talking to, that was obvious.

  • The truth about spammers

    Call 911 and tell them someone is trespassing. Done.

  • Justin Verma

    A significantly better option than shooting someone. But chances are asking people to leave would be easier on everyone, but if they do not… that is why law enforcement exists.

  • Bob Rice

    Im with Shaun,I use my cards all the time,I pay THEM ALL off BEFORE the end of the month,I still get money back from the CC companies.The CC companies can call me DEADBEAT all they want,$crew them. That 29.9 % interest is USUARY,and a LOT of people can only pay the minimum due to the usurious charges,,,

  • JRAR10390

    You better pay your bill or a hoard of Vikings are coming over to your home with Eric Balwin.

  • JRAR10390

    You better pay your bill or a hoard of Vikings are coming over to your home with Eric Balwin. What in your wallet? None of your f**CK*ng Bussiness!

  • http://billcollectorshateme.wordpress.com/ Bill Collectors Hate Me

    Also, if you’ve ever defaulted on a Capitol One credit card in the past, they may offer you a new pre-approved credit card offer in the future but beware! They will put your old debt on the new card. It works for them but sucks for you! Just FYI.