When I received my credit card statement September 2, 2009 from Capital One I was very surprised to see a 10% increase in the APR and more than double finance charge on my outstanding balance. I called customer service to inquire and they said they sent a notice of Term and Conditions changes on May 12, 2009. I told them I never received such notice and asked that a copy be sent to me. On 9/18/2009 I received a copy of the notice and found that a deadline on 8pm, July 28, 2009 was my opportunity to opt out, close my account and pay the remaining balance at the previous interest rate.
I’ve spoken to numerous agents, sr. account managers, and faxed/e-mailed my concerns to Capital One and the Office of Comptroller of the Currency, (OCC) Administrator of National Banks. This was an exercise in futility since the OCC’s Consumer Assistance Group (CAG) is not a consumer advocacy or bank advocacy group and the OCC is an administrative agency with no jurisdiction to resolve contractual and factual issues.
I keep getting the same canned answers from Capital One via voice and response letters.
The major stumbling block here is the bank claims to have sent a letter and they are sure I received it because the US Postal service is “perfect” in their view and they did not get any returned mail therefore I must have received their letter because I get their statements. My question to them also was why I was not notified thru my e-mail account or on the monthly billing statement to be alert for the upcoming change notice letter.
I often get mail addressed to neighbors or people across town and usually just leave it for the carrier to pick up or deliver it to my neighbor. There have been times, when I have not received mail from others, and as well as missing billing statements.
The bank is firm on not making any changes or allowing me the same opportunity others had who did receive the letter on time. In my conversations with the various agents at the bank one told me he received 4-6 of these types of calls per day. I could understand some people may have overlooked this mail but I’m quite diligent on anything having financial impact.
Is there anything you can do to help solve this issue?
Sincerely
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