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Home >> Lending >> Credit Cards
Credit Card 'Bait & Switch' - What to do?
I recently received an offer for a 0.0% credit card. It says under "Important Heading", your excellent credit means you've been chosen for one of our best offers. Save with a 0.0% APR on purchases until Nov. '09 with none of the usual fees - no annual fee, over limit fees, past due-fees, returned payment fees, cash advance fees or transfer fees." It also says the same thing right above the application where I sign.
When I received my first statement under Finance Charges there was a "Special Trans 9.99%" listed with a $64.44 interest charge. They do list this Special Transfer APR in the disclosures, but because of the strong wording up front and on the application, I did not believe there was a fee. I called CapitalOne. They told me that they changed the offer and that I was given a disclosure when I received my card. How can they do this bait and switch? To whom should I complain? A supervisor will call me in the next two days, if not I will pay off the card, less the interest.
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 Capital One is regulated by the Office of the Comptroller of the Currency, as a national bank. You can review information about assistance from the OCC here, which includes a link where you can file a complaint.
Published on BankingQuestions.com 4/06/09
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