Another unauthorized charge from Capitol one placing my account over limit and oversteping my credit terms. Please stop ruining my credit by these actions.

Capitol One has raised their credit card balance interest rate from 7.9% to 17.9%. They claim everyone was sent a letter in February with an option to "opt out" of the higher rate. Who in their right mind wouldn't do it? They claim nothing can be done to lower the rate. How can this act of greed be allowed? With the economic problems, record unemployment and people not spending money because of uncertainty, this must be the Bank One answer.

I just called capitol one 888 527 6904 to cancel payment protection. As usual, the woman on the phone tried to explain the benefits of this service on and on suggesting I should keep it. When I said "I don't want to have more info about this service, I just want to cancel it" she just said OK it is canceled starting today and she hanged up immediately while I was trying to ask for the confirmation number for this cancellation... I don't want to blame the company for rude people like this but I was so annoyed...I was talking and she hanged up! Another issue is that they better hire people for phone services with an understandable accent. Sometimes i have to ask them to repeat because I don't understand their English well!

When you call them to activate your credit card, make sure that they don't charge you with creditinform and payment protection, make sure you ask about those..

Capital One claims to not apply any fees to currency conversion when using their credit card for international charges. My experience with Capital One has been that they do not convert the currency using the daily bank rates and that Capital One uses conversions that are at higher rates than the daily bank rate and that is how they can claim they do not charge a currency conversion fee. I have taken international travel in 2008 to a number of countries and used the Capital One credit card only to find out that after I receive my Capital One statement, the currency conversion is significantly higher than that used by several other banks. When trying to resolve my issue/concern with Capital One, they first claimed they used the daily exchange rates from Wall Street Journal. When I have provided the daily currency conversion exchange rates provided by the Wall Street Journal, they then claim to use another source. When requesting their source, they claim their conversion rate is determined from multiple sources and refuse to provide their "multiple sources." I believe I have lost hundreds of dollars from Capital One as a result of my international charges that actually reflect currency conversion rates that are much higher than the rate provided at other banks. If you plan to use a credit card for international charges, I recommend that you contact Capital One to determine how they determine their source(s) for currency conversion and make sure they document the conversion for you, so that when you receive your credit card statement, it will reflect a verifiable conversion rate. Unfortunately, I suspect Capital One will not be willing to provide you the information to your satisfaction. Good luck.

I have an extensive background in the credit card industry. As a former customer service rep and acting manager from time to time for a very large credit card company, I know what I am talking about. I used to have to explain this kind of stuff to about 150 people per day.

Here is my issue: Due to having to fund a wedding, my wife and I had to carry a high balance that put the card at the limit. An oversight of myself caused us to go slightly over the limit on two of the billing cycles. That was my fault and I have no excuse for the (2) overlimit fees that we were charged, but why we got a third overlimit fee AFTER the account was paid in full is beyond me. We also got billed finance charges AFTER the account was paid in full.

The following is information from the last statement, which is the statement that is in question. The billing cycle ended on 8/27 with a minimum payment that included the amount that the account was overlimit by. I sent the entire minimum payment 3 days later (8/30). The due date was not until 9/22- so well in advance.

Absolutely NO transactions occurred after 8/27, yet there was another overlimit fee on the 9/27 statement. How is this possible? The only explanation is finance charges! From 8/27 until 9/26, the account was exactly at the limit. But, on 9/27, the billing cycle closed, finance charges were added, and now the account was over the limit and as a result an overlimit fee was automatically added.

This is clear evidence that Capitol One charges overlimit fees even if it is only finance charges that put the account over the limit. In spite of this poor and, quite possibly, illegal business practice my wife and I paid the account in full as soon as I realized how they treat their customers. The payment posted to the account well before the due date, yet we received a bill for finance charges. So, Capitol One does not grant a grace period for those who pay their account in full by the due date.

My balance consisted of strictly purchases, no promotional balances, no case balances, no balance transfer balances- strictly purchases and therefore no payment hiarachy existed which means that there is no grace period. This is another horrible business practice- especially when every credit card I have ever dealt with honors the grace period norm.