Capital One - No to stealth charges sign now

Capital One has recently introduced a new way of charging interest for cash withdrawals. Under the new scheme, money you pay to settle a certain month's credit card bill won't be used to repay cash withdrawals if you've used your card since receiving the bill in question. Instead, non cash purchases 'take priority'. This is explained in more details on the BBC news website:
http://news.bbc.co.uk/1/hi/programmes/moneybox/3881501.stm

As if this practise isn't bad enough, Capital one customers receive NO notification that they have a cash withdrawal outstanding on their account. This effectively means even a small cash withdrawal can quietly accumulate interest at a rate of 20.5\% without the customer knowing it, even when they receive their credit card bill!

The whole scheme is outrageous. For a giant multi-national to use such an exorbitant scheme to fleece their customers of more money is nothing short of shameful. The fact that a lot of Capital One's customers are those on low incomes and with poor credit ratings adds to the stigma and only serves to undermine several of the statements made on Capital One's website:

"Any charges made on an account are clearly displayed on the customers credit card statement."

"We are committed to putting the customer at the heart of everything that we do."

"....the Corporate Reputation Committee, ensures that our products are fair and in the best interests of our customers."

"As a consumer finance provider, we go to great lengths to make sure that we lend responsibly."

Charging customers what is in effect a 'stealth' payment on cash withdrawals in contrary to every one of these statements, and no matter how legal it may be technically, it is immoral, deceptive and entirely unacceptable.

As Capital One customers, and customers of other credit card companies, we are disgusted by the contempt and arrogance Capital One is showing to it's customers. We call for Capital One to immediately cease this new method of calculating interest and issue an apology to all customers who have been adversely affected by it.

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Goal
50 / 100

Latest Signatures

  • 06 August 201550. Kris B
    Capital One has the WORST customer service of all the credit card companies
  • 27 July 201549. A C
    disgusting con capital one
  • 15 July 201548. Carole L
    I support this petition
  • 11 July 201547. Glynn T
    Wholeheartedly agree
  • 06 July 201546. Matt S
    you need to work on having better customer service and aid those that have had cards stolen.
  • 08 June 201545. Rosemarie S
    I support this petition
  • 15 May 201544. L U
    I support this petition
  • 13 March 201543. Kay S
    Time to change cards i think
  • 11 March 201542. Stevepetty Hart
    I support this petition
  • 26 January 201541. Steve E
    I support this petition
  • 14 January 201540. Steve C
    Please ensure that Capital One is closed down
  • 23 November 201339. John Christophert
    I support this petition
  • 15 November 201338. Mo Carr
    rip off! - i wouldn't recommend them to anyone for this!
  • 21 July 201337. John B
    A despicable way to do business!
  • 09 November 201236. Mark S
    This is typical of the money grabbing Bankers.
  • 06 October 201235. Alan N
    they are crooks/ 0\% offer intentionally misleading
  • 15 July 201234. Dave J
    Please don't be such charlatans
  • 25 May 201233. Joan M
    I support this petition
  • 20 April 201232. Ismo M
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  • 02 March 201231. David D
    I support this petition
  • 02 February 201230. Karissa K
    Capital One is deceptive in all areas - Please also report them to your state and the OCC!
  • 23 January 201229. Catherine Fl
    Among other of the unordinary practices they administer
  • 25 October 201128. Ahmed A
    dispicable behaviour Capital One, you should be ashamed.
  • 15 October 201127. Edward J
    I support this petition
  • 11 July 201126. Joe L
    Capital One STINK
  • 27 June 201125. Darren H
    Don't mention THAT in your adverts do you!
  • 27 June 201124. Tom M
    I support this petition

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Information

Jimmy KramerBy:
School and EducationIn:
Petition target:
Capital One UK

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