Unethical Business Practices of Capital One
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Capital One has been sued for unethical business practices for unethical promotional practices. Capital One was offering to give consumers one dollar of new credit for agreeing to transfer the whole balance of previous cards tor accounts that were charged off to a new card. What made this unethical is they were using this so they could get around the statute of limitations and start fresh. Capital One would issue cards that had limits as low as $200 for consumers who were classified as low income or had a poor credit rating. These cards had membership fees of like $59 a year! These annual fees were just billed on the bill the second month of having the card. This in turn was deducted from the $200 that was given and left only $141 of credit, without the consumer knowing. This then has the consumer exceed the credit limit and face a penalty of "over the limit" fees of more than $25.
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Capital One has been sued for unethical business practices for unethical promotional practices. Capital One was offering to give consumers one dollar of new credit for agreeing to transfer the whole balance of previous cards tor accounts that were charged off to a new card. What made this unethical ...
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Dear Student,
Here are news links pertaining to your article on Capital One and other articles relating to your specific incident and articles on the unethical practices of Capital one over recent years. I have research and listed the links to the aforementioned articles.
Good Luck with this assignment. I am sure you will do well.
? West Virginia Sues Capital One
http://www.consumeraffairs.com/news04/2010/01/wva_capone.html
? Class Action Takes On Capital One's 'Payment Protection' Plan
http://www.consumeraffairs.com/news04/2010/01/capital_one_suit.html
? Capital One Interest Rate Hikes Anger Customers
http://www.consumeraffairs.com/news04/2009/02/cap_one_revolt.html
? Capital One Blitzes Credit Reports Looking For New Prey
http://www.consumeraffairs.com/news04/2006/09/capital_one_blitz.html
? Capital One Harms Credit Scores by Withholding Data, Suits Charge
http://www.consumeraffairs.com/news04/2006/09/capital_one_blitz.html
? Capital One Buys North Fork Bank
? WV Sues Capital One for "Deceptive and Illegal" Practices
http://www.consumeraffairs.com/news04/2005/wv_capital_one.html
? WV Subpoenas Capital One Records
http://www.consumeraffairs.com/news04/2005/wv_capital_one.html
Capital One
Edith of Moreno Valley, CA April 9, 2010
Interest Rate Hike by credit card company. Received and automatic credit limit increase, along with that increase received an interest increase to 29.99%, which the company justifies as it being to late payments (2 late payments to be exact)which occurred ...
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