No. of Recommendations: 3
Now I know how CapitalOne financed their funny-turned-obnoxious "No" ad campaign - by ramping fees and interest charges. Today, after repeated chances given, they lost me as a (very good) customer.

I've kept a small balance with them for years, usually between $1500-3000. Regular, large monthly payments. 10% interest rate, tolerable. Six months ago they still had an optional payment program so you could skip a month with no monthly fee, just pay interest.

They stopped that several months ago (at least for me.) Then this fall I was 1 day late on two monthly payments. No grace period, $35 fee for each one. I called and asked for a refund of the first one due to my credit history and score (excellent). No dice.

In November they escalated, on the second 1-day late payment. They ramped my interest rate to 28%, retroactive, and nailed me for nearly $40 in interest. I called twice to demand a rate pullback or a late payment refund or they were going to lose me. Couldn't get past the "we'll put in the request sir."

This month, I mailed in a check for half of the balance on the 7th - 2 days before the payment deadline. Mysteriously, they didn't credit my account until the 13th. Another $30 in interest and $35 late fee. Ba$tards.

Today, I activated my new MBNA LLBean card, 0% interest on balance transfers until 10/6, and promptly paid off the dirtbags' account. Being aggressive with my cash flow management, cost me a couple of dinners out with my family - but that particular institution will never get another dime from me.

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