Frisky070802's Journal: CapitalOne Auto Finance woes

In 2002, my wife and I refinanced two auto loans with PeopleFirst, which became CapitalOne. We arranged for them to auto-deduct payments from checking.

Some time ago, they screwed up, failed to take their money, and then yelled at us for not paying them. They apologized eventually.

Last weekend, after we had supposedly paid off both loans last month, we got a letter about one of the loans, complaining we were about $50 in arrears. I called them, and they said they failed to compute the interest properly, but would have it credited. But a few days later they called us to inform us, again, how much in arrears we were. I called back, and was again assured they'd fix the problem.

Now it's been a couple more days, and it still hasn't been fixed.

What a chicken-excrementy outfit. They had nice rates, but their service stinks. Thought I'd warn the blogosphere ... and see if by any chance anyone else had experienced similar pain.

Cap One

[elmegil]

They had nice rates

Past tense is appropriate. I was late two months running and they jacked me to 26% interest. I moved what little balance was left to other cards still at 9% and called them to say "lower it or I walk". They said I had to transfer a balance back to get a lower rate again. Eff 'em. I haven't cancelled, but I'm not using the card, and it'll get cancelled soon.

Re:Cap One

[Frisky070802]

This was an auto loan (originally PeopleFirst), at a fixed rate, much better than my credit union, which surprised me.

Epilog: 1.5 weeks after they complained, prompting me to call them 3-4 times, they finally show the interest as being credited. Just before I think they would have reported me as delinquent -- but I'll be watching that carefully just in case.

Salt in the wound

[Frisky070802]

I got two letters today from CapitalOne, one dated 7/6, the other 7/8, increasingly insistant that I pay them their $52. (Today is 7/14. Either the USPS was especially slow, or C.O. especially inefficient.)

If I hadn't already seen online yesterday that they cleared the balance, I'd be rather distressed.

Bastards....