Capital One Credit Agreement

wizzywig27

Hi all

I was recently accepted for Capital One after two declines in a year, however I just had a letter in the post saying..

Dear Mr X

I'm pleased to confirm we have approved you for a Capital One Classic Card. Before we can send you your new card we need you to sign the enclosed Credit Card Agreement. Just make sure you keep the second plain copy safe, for your records. We realise you've already signed this, but because we have recently reviewed your application we need you to sign the agreement again. You could then recieve you card within seven to ten days.

Now I am asking, what does this mean? Why have they asked me to sign again? Does this mean I still may be declined? Anyone else has this?

I have highlighted the areas of concern in bold

thanks all

PNPSUKNET

I would say you have

wizzywig27

PNPSUKNET wrote: »

I would say you have

Have what mate?

jonesMUFCforever

Been accepted or why would they waste ink writing to you?
In all probability they have lost your original agreement.

PNPSUKNET

as above, but capital can be strange recently

wizzywig27

I completed it online, you know where you type your name?

YorkshireBoy

Is the copy they've asked you to sign EXACTLY the same as the one you electronically signed online...specifically the APR on your card?

wizzywig27 wrote: »

Now I am asking, what does this mean? Why have they asked me to sign again? Does this mean I still may be declined?

Presumably you're going to ask Capital One these questions at some point?

wizzywig27

Presumably you have never spoke to anyone at Capital One applications centre? They struggle to understand the most simple of questions!

YorkshireBoy

wizzywig27 wrote: »

Presumably you have never spoke to anyone at Capital One applications centre?

I have, but not recently.

Can you answer my first question?

wizzywig27

I signed the agreement online, which states if signed correctly the card will be sent followed by PIN....so what I am saying is why sign this if they sent the agreement anyway?

YorkshireBoy

From what you said in your OP, the application has been subsequently reviewed (by an underwriter). They 'may' have tweaked the T&Cs for accepting you and wish to obtain your consent to these before sending the card/PIN.

As they operate a 'rate for risk' policy, maybe they've decided that they're going to put you on a higher APR.

So, again, is the new agreement IDENTICAL to the one you electronically signed online. Check the APR specifically, and any other key T&Cs.