Capital One Platinum Review

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Capital One Platinum
1.3 stars
Average rating for this product is: 1.3 out of 5

From 4 ratings and 49 reviews

Thumb down 18% of users recommend this product

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Guest's Review of Capital One Platinum

30th Apr 2008

Overall Rating

0.5 stars
  • Value for money
    0.5 stars
  • Loyalty scheme
    No
  • Used card for
    6 - 12 Months
  • Customer service
    0.5 stars
Good Points

None


Bad Points

Interest rate.


General Comments

In October 2007 I received a mailer from Capital One that offered 0% APR for life on balance transfers. I read over all the fine print to make sure that there were no hidden requirements, then applied online and was accepted. I transferred about $18,000 of high interest debt from other cards. I began making monthly payments and was succeeding in lowering my debt. Then, in April 2008 I received a letter from Capital One that said "oops, we messed up, your rate was supposed to be 5.9% APR, sorry." Despite the fact that I have made timely payments for 7 months at 0% and no matter how much I protested that it was NOT a mistake because I never would have opened the account if the mailer had said 5.9%, the company refused to listen. And, because I didn't save the mailer, I cannot defend my case. So they are now charging me the new rate (at least until I find a better place to transfer the balance). I think this is unfair. Once they realized I was not putting new charges on this account, I think they jacked up my rate.

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