Anyone have difficulties with Capital One?

We have a car loan through them (actually they bought the small bank we originally got the loan from.) I got a letter saying I was a month behind on my payments, needed to pay up with a penalty immediately. I'm incredibly anal with our money management, have never written a hot check or been late with a payment, and balance our checkbook to the nearest tenth of a cent. After a long time at the bank and being on 1-800-Hold this morning I "we" discovered the reason for the notice. I did not make a payment in June, ergo I was behind a month. Actually I made the June payment in May, but per Capital One I DID NOT MAKE A PAYMENT IN JUNE. The letter they sent me had the same balance due on it as the amortization schedule lists as of 15 July.

Capital One won't be in my wallet.

Oh, the tone was accusatory at the bank, I must have made a mistake (and if I did I would have admitted to it.) And the lady on the phone call wanted to know If I called to take care of the late payment.

so you could send them the June payment in June

Tell them that you *did not* sign up with Captial One at all. You signed up with the small bank and unless they acknowledge the June payment, you will be moving to a different bank to get the loan transferred.

they would fix it and all will be well on next months statement but we most likely will just pay it off. I won't be doing business with them again.

Somewhere buried in there is a statement that advanced payments will be applied on the date they are received and not in advance. That is to say, you were credited with two May payments but nothing for June.

I've been bitten in the behind by that one on my student loan payments (not through Capitol One. It is apparently a very common proviso specifically for milking fees out of those who would "cheat" the loan company from interest.)

All of this shit is basically a way for them to squeeze more $$ out of people by threatening their credit ratings. If we had a real representative government, every credit card exec would be wearing an orange jumpsuit right now.

but it wasn't in the original contract I signed, (not with Capital One, but the contract transferred) because I always pay off loans ahead of time and check on that caveat before hand. The Bank said they were converting account numbers and initially could not immediately confirm my "story" but it would all be taken care of. I have to chuckle about the confirmation line because the balance due as of 15 July on their "late payment" letter was exactly the same as the one on the original amortization schedule I received.

said "cheat" the loan company from interest. Like their interest rate ain't cheating everyone. :sarcasm: BTW, the sarcasm and my laugh was at the loan company not my fellow DU poster

I'm glad someone got mine. :toast:

:grr:

I'm almost ready to respond with my application attached to a brick! :P

And did the bid thing there for an auto loan. They came back with Capital One, whose rates weren't competitive at all. Won't be using LendingTree anymore. I finally went with USAA (I'm a Naval Reserve Veteran) I am still getting junk mail from Capital One. Sorry to hear of your problem.

A similar problem to yours happened to me when I refinanced my mortgage in 2002 through a local bank. The mortgage was subsequently sold to Washington Mutual. I did not even know they had me down as delinquent with a payment until last year when I read my credit reports. As a result, my credit score suffered. WaMu even admitted the mistake, but would not help me at all. I had my local bank intervene after a few nasty e-mails and phone calls to WaMu.

Lowest rate of all my credit cards. However, I am never able to access their website, which is a pain.

Ya can't beat USAA, I have a credit card through them and am also a member of Navy Federal Credit Union. WAMU serviced our account about five years ago. They sent our tax payment to the local municipality but the check was way more then what was due. The city had received several like that so instead of servicing the checks the city bundled them all up and sent them back to WAMU without notifying us tax paying citizens. I went round and round with the city over that one. Thank God WAMU sold our mortgage about four years ago. We live 55 miles from New Orleans and I get down to the Navy Exchange at the Naval Reserve HQ on Dauphine Street on occasion. There also is a NFCU branch there. Its scheduled to close in September 2010 and CNRF is going to Norfolk.

Trust me they suck
I cant stand their commercials either
I have dealt with them a few years back, and they are ignorant.

and in a perverse sort of way, their commercials are protesting too much in reverse. Its a shame that they bought out a very fine local bank in the New Orleans Area.