Shady Business Practices
Written: Jan 13 '06
|
Product Rating:
|
|
|
Pros: NONE
Cons: Extra payment does not go to principal but delays billing cycle
The Bottom Line: If you like to pay off bills early avoid CapitalOne
|
|
|
| hatecapone's Full Review: Capital One Auto Finance |
A little background on me is that I tend to pay over what is owed monthly on my loans so that I pay them off quicker and pay less interest.
CapitalOne Auto Finance bought out my auto lender Onyx. Now normally I would not care since since several of my loans have gone through this process but ever since they have taken over I have had nothing but problems with them. The first thing that happened after the change over is that they sent me a bill for $0. I did not think anything of this since I get this kind of bill all the time with my student loans but I sent in a payment (plus a few hundred more) anyways. A few weeks later I get a nasty letter stating that even though I got a bill for $0 I still needed to send in a payment. Also since it was their fault the statement read $0 they will retract all the negative credit reports they filed because of my nonpayment. Then after all that it states please ignore if you already sent payment. I checked my bank and the check was cashed about a week before that letter was sent. I call CapitalOne on this and they tell me that the systems are automated and even though the checked was cashed the system does not check to see if it was.
Strike 2. About a month and half after this I realize I have not gotten a statement from them, so I call them up on this and they tell it is getting sent out that day. When I get the bill it shows I only owe $17.22 which is a lot less than my normal amount. Also The due date is only a week away. I call them up on this and I get connected to their Indian call center. I am assuming here that Indian call center has no training since they could not tell me why I only got a bill for $17.22 and why they skipped a month in the billing cycle. The only good thing that came out of it is that I was told the bad credit marks will not trigger unless it is 10 days after the due date.
Strike 3. I call them up after the due date just to make sure they got payment. They got the payment in time and my next payment is due in 5 months. 5 MONTHS!! So I talk to the operator again, luckily this time it is a trained staff, and I find out that if you pay more than what is due it does not go to the principal but only delays the billing cycle and they can not make it go a normal monthly billing cycle.
Recommended:
No
|
|
|
|
Epinions.com ID:
hatecapone
|
|
Reviews written: 1
Trusted by: 1 member
|
|
|
- Add to My Yahoo!: 
- Add to Google Homepage: 
© 1999-2009 Shopping.com, Inc.