This company is exploiting the unemployed and other low income people. they phone you at home tempting you into signing up for one of their credit cards offering you up to and say it dosn't matter your that your unemployed.
i was foolish enough to fall into this trap, and was given a card with a limit of 200.
i spent 184 on it and was late with a payment, so they added a late payment fee of 20 which put me over the 200 limit, so they added another 20.
i fell into difficulties and wasn't able to get the account up to date.
eventually i owed them 500 and offered to pay them 30 per month if they would stop the charges, buy they said they would not stop the charges, although they said i could pay 30 per month
so what they were saying is i pay 30 per month, they add on 20 per plus interest so out of the 30 payment each month, the amount actually coming off my bill was around 3 to 4
i asked them how long it would take me to pay this off and what the final total was that i would end up paying but they said they couldn't.
i then told them i was not prepared to pay 30 to them for what would be quite a few years and that it would be cheaper for me if they took me to the county court or handed the matter over to a collection agency and told them straight i had no intention of paying them another penny.
they said they would do this when they choose to, they have now put the matter into the hands of an agency, but not before they added more monthly charges, total i now owe is 734.
i know i only have myself to blame for this but do feel that capital one have been neglegent in allowing these charges to continue even knowing i was unemployed and would be unable to pay.
they could have ended this matter a long time ago by agreeing to stop the charges and accepting my monthly payment of 30 but it seems they are greedy..
to anyone in the uk or anywhere being offered these cards designed for low income people, decline it.
they will give you the lowest credit limit with the highest interest rate and even charge you around 20 admin costs.
these cards are not designed to help you, they are simply a way of lining capitals ones pocket.
Shaun
liverpool
United Kingdom
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