Skip to content
File a complaint
File a complaint

Capital One complaints

Capital One complaint: Capital one Costco limit

Open 442 views Banks
File your Capital One complaint How does Complain.biz work?

Filed 23 Oct 2020 by david

I have spent so many hours trying to find a Capital One employee who can fix something. I have made it to the third level by being pleasant, calm and polite. My wife and I joined Costco a month ago and were convinced to get a Costco Capital one car. When it arrive it was for a limit of $1000 with no posibility of increase for six months. I actually applied on line and was granted a limit of $2000 without leving my desk. Your company policy appears to be NO ONE GETS MORE THAN TWO THOUSAND UNTIL AFTER SIX MONTHS
I have had a Capital One Aspire world elite card for several years with a limit of $12,500 I have used that card responsibly and a couple of times to the limit. This history is not transferable to another card
When I got the card it was based on a 2% return that Capital One has changed, at will, twice to now be 1.5% The card is now not viable within my visage of ROI
I use anywhere from $3000 to $12000 on a monthly basis What good is a card to me with a one or two thousand dollar limit

File your complaint

Report

Spam, offensive, not about this company, or it contains someone's private details? Tell us and a person looks at it.

Discussion

1 comment

  1. Craig Kaufman

    Exactly! In my case, I requested a credit limit increase for a Capital One card after two years of timely payments. I have high income and low debt and said as much on my application for an increase. My credit scores are decent as well. I’m definitely not over-extended in any way.

    My denial letter said my credit usage was low. Nothing about any other reason, such as credit score, etc.

    I emailed the Director of Complaints and cc’d the CEO. After a week, I received a voicemail and called them back. The executive office left a note saying they won’t make an exception. This is effectively a second denial. I provided feedback to the supervisor who told me about the note. She said she would bring up the issue in an upcoming meeting. But unless they magically change their ways, I won’t be hearing back further from them on the matter.

    My reason for requesting the increase was so I could make larger purchases without fear that my credit utilization would negatively impact my credit score. Normally I charge things and pay them off in full (except $25) before the statement date. Then I pay the $25 on the statement date.

    I recently made a modest purchase that posted with insufficient time for me to pay before the statement date. This brought my credit utilization from 1% up to 18%. My credit scores dropped between 2 and 12 points, depending on the reporting bureau. And yes, I paid my entire balance on the statement date. It took a month, but my credit scores rebounded.

    Capital One needs to put the needs of its customers first. I’ll be exploring cards from other companies and will do my banking elsewhere. I’ll also be encouraging people to speak up about these issues and to not do business with them until they change their ways, if ever.

    Reply

More Capital One complaints

View all 130

Wronged by Capital One too?
Make it sting!

Launch complaint