Capital One - Late Posting

My wife and I pay all our bills through E*Trade Bank Electronic Bill Pay. Our payees include nine (9) credit card accounts, and seven (7) other organizations that accept electronic payments. With one exception (Capital One), E*Trade guarantees payment delivery in three days for any vendor accepting electronic payments, and five days for vendors where they have to mail a check using the US Post Office.

Capital One is the only vendor that specifies electronic delivery, yet still shows up as a five day delivery time. I had E*Trade research this problem. The answer from the E*Trade research department was that Capital One has told E*Trade they must list them as five days to process. Because E*Trade guarantees me delivery in the specified time, they are forced to follow Capital One's instructions.

I then contacted Capital One and spoke to a supervisor named Frances. Her answer was that five days was their policy, but sometimes it takes less. She had no answer as to why every other company in the country can process an electronic transfer in three days, but they can not. I then went back and looked at some of my past payments, and the time it took to get processed at Capital One. One took three days, the rest took four or five days.

It is clear why Capital One is adding extra days. For every extra day they have your money, and don't post it, they get to charge you finance charges on your money, and increase the chances that you will be assessed a late charge on your account. In my mind, this is clearly a scam.

Capital One has been posting debit card transactions from highest to lowest dollar amount to extract overdraft fees from customers.

On, 09.24.11, I made my first payment on this new business card account by telephone and the customer service agent told me that the funds would be available on the following Tuesday, 09.27.11. The payment was posted on 09.26.11 and the funds cleared my bank account on 09.28.11; however, my account has not been credited.

When I called CapitalOne to inquire as to why my account wasn't credited, it was explained that sometimes they did this with new accounts (sometimes for the first few billing cycles) and the funds would be available on 10.08.11. When I asked why this was, no one was able to give me an answer other than "policy."

I received a telephone call that my account was late. I checked my bank statements and found that I had made my payments early in July and August. I called the customer service center to try to rectify this situation and was told that nothing could be done, because I made my payment too early in the month.

I asked to speak to someone who could help me with this problem and was told that nothing could be done. I asked to speak to a supervisor and was told none was available, but someone would call me within the next 48 hours.

I received a call today from a supervisor and was told that nothing could be done. I asked to speak to her supervisor and was told no one was above her and to just pay double this month and all would be well. I asked again who could I speak to and was told that I could fax my complaint to the customer service office, but I would be told the same thing.

I will file a complaint tomorrow with the Better Business Bureau and will fax my complaint.

I had an electronic funds transfer done through my bank to pay off my credit card balance. This was on 1/23/2004 and as of 1/30/2004 they have not credited my account. My bank faxed them all electronic information including tracer numbers showing where Capitol One had received my payment and they still have not applied the payment of 216.00. The funds have already been taken from my bank account and every time I contact them or fax them they do not take care of this problem. They still have not applied the payment. I spoke to Customer Service on 1/29/04 and was told funds would be credited by 1/30/04 and this still has not happened.

Capitol One is applying similar tactics as Direct Merchant's Bank. I have faithfully paid my bill on my K-Mart MasterCard each month. Recently I started receiving "Late Fees" even though I had sent my payment 7 or more days prior to the due date. When I contacted Capitol One their reply was, "You need to send your payments sooner. If we do not receive it on the due date you will incur the late fee."

My response was what keeps you from holding my payment until the next day then charging a late fee? Their response (as I figured it would be) "Oh, we would never do that". At any rate one of the late fees placed my account over the limit and I was charged an additional "Over the Limit Fee." My next bill stated the required minimum payment due, which I paid and now I find that there were additional fees attached after the bill was generated, which Capitol one claims they do not have to disclose to the comsumer.

Since I have made the minimum payment I am now receiving up to three calls a day claiming I am late and that I need to do a "Check by Phone" in order to bring my account current even though I have been told that this payment is not do until January 14th, 2004. According to the Fair Debt Collection Practices Act of 1997, 805 USC 1692C(5) Capitol one is in violation of harassment, abuse and annoying the consumer.

After long suspecting delays by Capital One of either not sending statements or delaying posting of received payments,I decided to close the account. On 02APR2001 I checked my account balance online, confirmed it with a call to customer service and made an electronic transfer of funds for the complete current balance ($1149.15). Since this took place in the evening, I knew that thae actual transaction would not take place until 03APR2001, the due date on my last statement. I believed this would be the end of it.

I then received a statement on 10MAY2001 indicating that the payment was not received until 10APR20001, a full 7 days after it was made electronically. I have proof from my bank that the transfer occured on 03APR2001. By delaying posting to my account Capital One has now posted $47.58 to my account by adding interest and a late payment fee of $25. Had they posted it on the day the received it, as stated in the credit agreement, no further charges would have occured. A phone call did no good, a supervisor was to have returned my call, but did not. Currently, a letter is in the mail to Capital One taking exception to there charges and requesting this account be taken to a zero balance. I am not hopeful.

We mailed our check of $40.99 on May 17, the payment due date was 5/27. They held my check until june 8. Then charged me 1.66 resulting in three more months they added 77.00 on something the 1.66 that appeared when they held my check.

Then I paid the 77.00 in protest of them holding my check because they threatened to ruin my credit. Then I proceeded to get a bill out of nowhere for $102.00. Originally the $40.99 was paid with 10 days advance they held the check which I have copies of front and back where they held it almost 3 weeks and added $1.66 which they billed $102.00 we are still trying to find out information to get our money back.

My wife has a heart condition, she tried to call, they would not talk with her. They slammed phone in her ear. She was hysterical because she hates to be cheated and have no recourse. She was totally out of it with anger. She is not suppose to be this upset. We ended up paying $176.99 for a $20.00 birdhouse