Last night I did something big and it feels so liberating! I paid off my Capital One bill and as soon as the check clears, I'll be closing the account!
I've had my Capital One Credit Card account since I was 18 and NEVER carried a balance on it until December 2006. I used it mainly for gas the entire time I had it and the occassional internet shopping excursion and had no problems paying it in full, on time. Until I got a bill in December 2006. Among the charges I expected to see, I found 4 charges for gas in Brooklyn, NY. I live in Northern Michigan and have never, ever been to Brooklyn. I quickly called Capital One and explained that while I never lost my card, my number had been obviously been compromised. The phone call its self was a trying experiance (over 90 minutes and 6 customer service reps). A couple weeks later I got a new bill, with the fradulent charges removed, I paid my legitimate charges in full and waited. A few months later, I got another Capital One bill. I had stopped using my Capital One card at all after the fradulent charges appeared. This bill was for the amount of the legitimate charges, charges I had already paid for! I contacted my bank and they confirmed that my payment had been deducted from my account by Capital One. Capital One denied ever receiving payment and started tacking on crazy late fees and interest. I contacted the Better Business Bureau and they were able to get some of my money back, but not all of it. By this time my balance reached over $700, the initial legitimate charges were just a tad over $150. I was and still am furious about this whole mess and have since quit using my Capital One card. This whole ordeal took over a year to clear up! Ridiculous, I know!
So now, imagine my relief and joy over the fact I've paid this card off and will forever be done with Capital One!