Capital One hidden fee?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
9 posts
Kevin86475391
Centurion Member
Centurion Member
 
Posts: 237
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Capital One hidden fee?

Postby Kevin86475391 » Wed Feb 18, 2015 9:28 pm

In recent months I'd begun to think Capital One had improved their customer service and business practices; I was wrong.

Several months ago they automatically upgraded my previous cash back card (can't remember what it was called) to their Quicksilver product. It had a higher cash back percentage and I'd heard good things about the card so I accepted the change. Then more recently a couple of months ago they automatically increased my credit limit (completely unsolicited, I made no CLI request). So at that point I was thinking how far the company had come, increasing rewards and raising limits on their own - my limit was still several thousand below my Discover, Chase, and Bank of America cards, but still with Capital One's notoriously stingy credit limits I thought it was major progress.

But of course a leopard can't change its spots. Today I logged into my account and was surprised and dismayed to find a $39 membership fee charge. None of my credit cards have membership/annual fees and I pay all my balances in full every month and avoid all interest charges, so this was completely unacceptable. A quick bit of research confirmed what I already knew: Quicksilver is advertized as a $0 annual fee card.

I called them up and they gave me some ridiculous story about how there are two different Quicksilver cards and the one I have does have a $39 annual fee. I don't doubt that they really do have such a system set up (to rack up fees), but it's clearly a case of bait and switch. They're advertizing Quicksilver as no annual fee, but then apparently quietly signing people up for a different Quicksilver account with an annual fee.

I talked to four different representatives but they couldn't/wouldn't waive the fee or change my account to the no-fee version. They offered to waive half the fee, thus I would have only paid $19.50 and admittedly I get more than that in rewards every year, but honestly I just felt cheated and deceived. I closed my account.

I'm angry but relieved to be rid of them at the same time. For comparison's sake the same day I called Chase about a $100 promotion I saw for the Freedom card, which I was pretty sure I didn't qualify for since my Freedom card was a conversion not a new account. I was right - and totally okay with it - but they happily offered me $50 as a consolation. So Chase is throwing $50 at me that I absolutely wasn't expecting and was okay with not getting, meanwhile Capital One is hiding fees. Discover always bends over backwards with rewards and great service too, and I'm perfectly satisfied with my Bank of America card. Clearly Capital One isn't, and probably never will be, in their league. Good riddance to them.

Anyway, I wanted to rant because I was angry, but at the same time I wanted to give people a heads up. If you have the Quicksilver card it might be wise to double check it's the version you think it is.


User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3755
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Thu Feb 19, 2015 11:57 am

It's the Quicksilver (no AF) vs. QuicksilverOne (AF). They are very sneaky, and that's how they stay so profitable.

And to further confuse customers, they have the Venture (AF) and the VentureOne (no AF).
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

popamode72
Centurion Member
Centurion Member
 
Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Thu Feb 19, 2015 12:09 pm

CarefulBuilder14 wrote:It's the Quicksilver (no AF) vs. QuicksilverOne (AF). They are very sneaky, and that's how they stay so profitable.

And to further confuse customers, they have the Venture (AF) and the VentureOne (no AF).


They really need to split up into two different entities and make it clear which one of their products is prime targeted and which ones are meant for subprime or rebuilding customers. That kind of phrasing can get quite confusing.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

User avatar
lobbythis
Centurion Member
Centurion Member
 
Posts: 618
Joined: Sun Sep 07, 2014 8:53 pm
Location: usa

Postby lobbythis » Thu Feb 19, 2015 2:10 pm

The only real sad part I see here is four reps could not tell you the difference between QuicksilverOne and Quicksilver.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3755
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Thu Feb 19, 2015 2:16 pm

lobbythis wrote:The only real sad part I see here is four reps could not tell you the difference between QuicksilverOne and Quicksilver.


"It is difficult to get a man to understand something, when his salary depends on his not understanding it."

-Upton Sinclair

Capital One is really profitable compared to most other issuers their size. They don't make a lot of money by having savvy customers, paying out a lot in rewards, and waiving fees. I'm sure reps are trained to not be too customer-friendly.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Fastphilly
Green Member
Green Member
 
Posts: 19
Joined: Tue Feb 17, 2015 3:23 pm
Location: San Francisco, CA

Postby Fastphilly » Thu Feb 19, 2015 6:30 pm

I would put the Quicksilver (AF) in the upper tier of cards aimed at fico score applicants of the 660-720 range. Perhaps your score didn't warrant the no AF version?

I'm in agreement with everybody that their tactics of offering cards with the same name (AF or no AF) for applicants that are right on the edge of subprime/prime status is sneaky to say the least. Really need to look at the fine print when applying for a Crap One account. Good on your part for ditching them!
In Wallet:
SM Credit Union Platinum Visa 15K (opened 2004)
Citi Double Cash MasterCard 6.6K (opened 2015)
Chase Freedom Visa 5K (2009) (morphed from Providian/Wa Mu)

whit
Centurion Member
Centurion Member
 
Posts: 508
Joined: Tue Aug 13, 2013 10:04 pm
Location: ca

Postby whit » Thu Feb 19, 2015 8:48 pm

CarefulBuilder14 wrote:"It is difficult to get a man to understand something, when his salary depends on his not understanding it."

-Upton Sinclair

Capital One is really profitable compared to most other issuers their size. They don't make a lot of money by having savvy customers, paying out a lot in rewards, and waiving fees. I'm sure reps are trained to not be too customer-friendly.


if by this you mean under paid than yes

I personally, as an employee that deals with customers face to face or even on phone..I wouldn't be able to look at myself if I don't tell the customer how it is as it is..even if it means I don't get as much sales or, if it would be more painful or tedious to explain to someone who may not understand the first time around

However, if I was underpaid, I would first off look for another job or change in career

In the meantime, or if I cant for whatever reasons, than yeah I wouldn't really care

But I would be the type that would throw free things at customers rather than earn more money for the company since I'm one foot out the door

But that's just me

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3755
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Thu Feb 19, 2015 10:13 pm

whit wrote:if by this you mean under paid than yes


While they may be underpaid, I meant exactly what I said.

I've heard a lot of reports of people calling CO and asking to PC to a no-fee card like Quicksilver. Rather than simply allowing a customer to do this, CSRs often make a counteroffer of waiving the fee for a year, or waiving half the fee.

Cases of customers getting exactly what they want (within reason) without a hassle are fairly few. For the CSR, extracting some sort of fee, now or in the future, seems a lot more important than keeping a customer happy. I don't think that's simply because CO reps are underpaid. I think they may wish to be nicer to customers, but are instructed to only give concede fees gradually.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

whit
Centurion Member
Centurion Member
 
Posts: 508
Joined: Tue Aug 13, 2013 10:04 pm
Location: ca

Postby whit » Fri Feb 20, 2015 10:19 am

Maybe, the cynical, part of me would think that way but I doubt it's written

More likely capital one has a guideline they judge their employees by where they would have to answer and solve calls within x timeframe or do so much calls within the hour. Make so much sales/conversion

and they don't care if it means that stuff like this happens



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests