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Capital One - balance transfer - worrying
geizkragen
Posts: 15 Forumite
in Credit cards
Approx 18/12 ago we used a CapitalOne Credit Card to transfer a sum with an agreed interst rate of 3.9% for the life of the balance.
It was rather shocking to see that on the last few statements it had gone up to approx 14.9%. We paid by direct debit and as the monthly repay was a smallish amount only noticed the 'changes' today. More interestingly the rate reverted back to the 3.9% for 1 month in 2006.
The initial response of the call centre operator of CapitalOne is '...didi you not get a letter informing you of the interest rate change? ...hat far down the line I can't do anything'
I have declined to speak to a manager and asked the call center operator to convey the conversation to his manager and inform him that I am prepared to wait 48h for a positive response.
Let's see what happens next?
I wonder how many customers of CapitalOne have been 'taken off' their agreed rate in that fashion?
Martin
It was rather shocking to see that on the last few statements it had gone up to approx 14.9%. We paid by direct debit and as the monthly repay was a smallish amount only noticed the 'changes' today. More interestingly the rate reverted back to the 3.9% for 1 month in 2006.
The initial response of the call centre operator of CapitalOne is '...didi you not get a letter informing you of the interest rate change? ...hat far down the line I can't do anything'
I have declined to speak to a manager and asked the call center operator to convey the conversation to his manager and inform him that I am prepared to wait 48h for a positive response.
Let's see what happens next?
I wonder how many customers of CapitalOne have been 'taken off' their agreed rate in that fashion?
Martin
0
Comments
-
Hi geizkragen - sorry to hear about your problem. I've got the same deal and rate so I imagine we opened accounts around the same time and my statements are still showing only the original balance transfer interest rate being applied eg recent payment £130, interest £13.98.
I wouldn't put any store in the "...didn't you not get a letter informing you of the interest rate change? ..." - thats call centre speak for "...I don't know what I'm talking about but this line ususally works..."
As long as you are sure that you applied for the 3.9% for life deal then it sounds like a c*ck up on their end - I'd forget about the call centre - send them a letter by recorded delivery with copies of all your supporting documentation requiring that your account be reverted to 3.9% for life and the current balance amended accordingly.0 -
Why did you decline to speak to a manager to sort it out there and then?
Has any of your D/D payments to Capital One either bounced or not paid by your bank?0 -
Hi ejones999
Thank you for your comments.
The reason I did not speak to a manager was that the information had already been made available and I am nauseated by repeating to several different memebers of staff. Further it gives them also time to have a detailed look at the account.
Thank you again
M0 -
I presume you have not actually used the card since doing the balance trasfer?Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Yes, card never used.0
This discussion has been closed.
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