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Capital One - Late Posting

Capital One • Low limit, high fees • Unauthorized account • Trouble closing account • Payoff plans • Identity theft • Fraudulent transactions • Late posting of payments --- News • Capital One Shuts Down Mortgage Unit, Will Cut 1,900 Jobs • Capital One Hikes Interest Rates, Agrees to Disclose Credit Limits • Capital One Blitzes Credit Reports Looking For New Prey • Capital One Harms Credit Scores by Withholding Data, Suits Charge • Capital One Buys North Fork Bank • WV Sues Capital One for "Deceptive and Illegal" Practices • WV Subpoenas Capital One Records

Charles of Winnetka CA (12/23/03):
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.

Fred of Burlington KY (5/14/04):
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.

Eduardo of Middleburg FL (1/30/04):
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.

James of Lexington, KY, writes:

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  

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