Capital One Financial

[tigger22472]

What is the name of your state?Indiana

I searched here and didn't find an answer. I need to know what I should do.

In July I was contacted by Capital One Financial (my mistake in believing it was actually Capital One, which I know has shady dealings.. but still). They offered me a 'credit card' with a 2,000 limit and was to remove 200$ from my account... I know.. stupid but I have slow credit and trying to work on that.

They did not remove the money when they said they would and when I called about it was told I was denied... no surprise, happens all the time ... and I totally let it go.

Last week I went to my bank and had found I was over drawn. 200$ had been removed from this Capital One Finance.

I called to find out what the deal was. I told the lady the story. She told me that I was confused and never denied. So, I asked why it took from July to November to remove the funds.. her story was that there was a bank mishap. Ok.. whatever... So I asked where the card was. She said in 7-14 days I would receive something in the mail to sign and return.

Still believing this was an actual card, I tried calling today and couldn't get through. I then called a different number for Capital One and realized that it wasn't the same place. After doing research I now find this isn't a valid card that it is for 'shopping' or what not with. I've been to [url]www.ripoff.com[/url] and read similar stories but I'm unsure how to fix this.

Do I go to my bank and have them challenge this for me and obviously not sign anything they send to me or do I contact them directly and tell them I don't want it? From what I understand from the websites, they require it sent by fax and then you still get the run around. However, I also understood that some didn't realize this until AFTER signing something, which I have not.

Also, who would I report them to in the first place AND who or what can I 'use' against them to hopefully get them to settle this quicker?

[Whatamimissing]

If you gave them your debit #, cancel that and get a new one. If you gave them your acct #, cancel that. First thing. 9am sharp. Since you're there, file the dispute or whatever the manager tells you. Get the managers name, date, time, and what the manager wants you to do (exactly). Have this written down and signed by the manager - do not lose it.
Hopefully, the manager or rep will make some calls for you. They may tell you to fax or email, that's fine. Get an address for the company, along with the name of the person you talk to and the managers name, time date, etc.
Send copies of everything you sent earlier certified mail, receipt requested. Put payment enclosed on the envelope, just to make sure they get it. Politely state your case and ask for your money back. Pain in the ass I know, but it is $200.
Send them the demand letter one more time, threatening smal claims court. If you still haven't received the money,t ake them to small claims.

[tigger22472]

Originally Posted by Whatamimissing

If you gave them your debit #, cancel that and get a new one. If you gave them your acct #, cancel that. First thing. 9am sharp. Since you're there, file the dispute or whatever the manager tells you. Get the managers name, date, time, and what the manager wants you to do (exactly). Have this written down and signed by the manager - do not lose it.
Hopefully, the manager or rep will make some calls for you. They may tell you to fax or email, that's fine. Get an address for the company, along with the name of the person you talk to and the managers name, time date, etc.
Send copies of everything you sent earlier certified mail, receipt requested. Put payment enclosed on the envelope, just to make sure they get it. Politely state your case and ask for your money back. Pain in the ass I know, but it is $200.
Send them the demand letter one more time, threatening smal claims court. If you still haven't received the money,t ake them to small claims.

Ewww.. LOL Geez.. I know you're likely right but the thought of having to close my bank account sucks! My husbands SS goes in there and that alone would be a pain in the ass to change. I am definately speaking to the bank tomorrow morning... awwww shoot... can't... tomorrow is a holiday.. dang it... ok.. first thing Monday morning and see what suggestions they have. The company hasn't sent me anything yet so I have yet to sign for anything yet so I"m hoping that will help me. I will also work on my demand letter to send.

[Veronica1228]

Originally Posted by tigger22472

Ewww.. LOL Geez.. I know you're likely right but the thought of having to close my bank account sucks! My husbands SS goes in there and that alone would be a pain in the ass to change. I am definately speaking to the bank tomorrow morning... awwww shoot... can't... tomorrow is a holiday.. dang it... ok.. first thing Monday morning and see what suggestions they have. The company hasn't sent me anything yet so I have yet to sign for anything yet so I"m hoping that will help me. I will also work on my demand letter to send.

Tig, I don't know what the other poster's background is, but to me their response looked mostly like a bunch of gibberish.

The only thing I agree with is closing your account and opening a new one. However, getting your money back is going to be tricky. See, in order for your bank to do anything you would have to fill out an affi for unlawful entry (or something similar). The rub is that this affi is going to make you attest that the withdrawal was unauthorized. Technically, you DID authorize them to withdraw the funds. I agree that you were misled and so forth, but you still willingly gave them your banking information. I wouldn't be surprised to learn that the telephone call was recorded and therefore, they have backup to fight your affi.

The only thing I can suggest is to continue trying to contact the company and report them to the BBB. I wish there was more that can be done, but I guarantee you that your bank will tell you the same thing.

[tigger22472]

Originally Posted by Veronica1228

Tig, I don't know what the other poster's background is, but to me their response looked mostly like a bunch of gibberish.

The only thing I agree with is closing your account and opening a new one. However, getting your money back is going to be tricky. See, in order for your bank to do anything you would have to fill out an affi for unlawful entry (or something similar). The rub is that this affi is going to make you attest that the withdrawal was unauthorized. Technically, you DID authorize them to withdraw the funds. I agree that you were misled and so forth, but you still willingly gave them your banking information. I wouldn't be surprised to learn that the telephone call was recorded and therefore, they have backup to fight your affi.

The only thing I can suggest is to continue trying to contact the company and report them to the BBB. I wish there was more that can be done, but I guarantee you that your bank will tell you the same thing.

Ok.. this may sound dumb but I'm not too up on how banking stuff works. If I've ONLY authorized for this 200$ to be removed, and they've done that, what would be the point in closing the account? Any other activity they do would be unauthorized, correct?

I see your point that I did authorized them removing the money but would I have any recourse that it was authorized in July and wasn't removed until Nov. You are correct they likely did record that message, highly unlikely they recorded WHEN I called them and they told me I was denied.

Also, when I get the supposal papers I will obviously read them over very carefully but would it benefit me any if I didn't sign anything at that point? Did that make sense?

[tigger22472]

Also, Veronica, with your background maybe you can tell me what you know about this company and how legal this can be. To be honest it wasn't until tonight that I found it's not actually 'Capital One' itself. I mean my point is that 'Capital One' is known as a leading credit card company, that's who I thought this was. Even when I search Capital One Financial I get to websites referring to Capital One (the legitimate credit card company). Isn't it if not legally wrong but morally wrong to maintain a name so closely associated? Maybe I didn't say that right..LOL Right now I'm just pretty frustrated about it. I have been really working on trying to get my credit in order and thought this would help and now I find out it's a scam as this isn't even a legitimate card, it's one of those that you buy their products...

[Veronica1228]

Originally Posted by tigger22472

Ok.. this may sound dumb but I'm not too up on how banking stuff works. If I've ONLY authorized for this 200$ to be removed, and they've done that, what would be the point in closing the account? Any other activity they do would be unauthorized, correct?

I see your point that I did authorized them removing the money but would I have any recourse that it was authorized in July and wasn't removed until Nov. You are correct they likely did record that message, highly unlikely they recorded WHEN I called them and they told me I was denied.

Also, when I get the supposal papers I will obviously read them over very carefully but would it benefit me any if I didn't sign anything at that point? Did that make sense?

You are correct that if they withdraw anything from this point it would be unauthorized, but then you would have to wait for a while for your bank to get your money back once you notice the unauthorized withdrawal and after you fill out the afore mentioned affi. If you're okay with that then you can go ahead an keep your current account open, but that's up to you.

The timing issue MIGHT help you out, but only if you stated to them that they only had a specific amount of time to make the withdrawal. If you feel that it was only implied then there is most likely not a whole lot you can do from that angle.

I'm not sure what not signing the agreement would do since you haven't received it yet and we have no idea what it states. I don't think it would mean that you would get your $200 back automatically since you did give them your verbal okay. We'd probably have to wait and see what you actually get in the mail.

By the way, you always make sense, and you could never sound dumb my friend.

[Veronica1228]

Originally Posted by tigger22472

Also, Veronica, with your background maybe you can tell me what you know about this company and how legal this can be. To be honest it wasn't until tonight that I found it's not actually 'Capital One' itself. I mean my point is that 'Capital One' is known as a leading credit card company, that's who I thought this was. Even when I search Capital One Financial I get to websites referring to Capital One (the legitimate credit card company). Isn't it if not legally wrong but morally wrong to maintain a name so closely associated? Maybe I didn't say that right..LOL Right now I'm just pretty frustrated about it. I have been really working on trying to get my credit in order and thought this would help and now I find out it's a scam as this isn't even a legitimate card, it's one of those that you buy their products...

To be honest with you, I'm not sure but it does sound very shady to me. I'm not aware of any specific Banking and Financial Acts or Regs that would pertain to the name of a Financial Institution. There may be state regs, but I'd have to check in your area (or the company's area) and get back to you.

[tigger22472]

I just kind of had a thought, it's early and I haven't been to bed.. but here it goes, and not sure how it would impact me. This company is based in Florida. Now, again I've had trouble finding stuff for sure on this company but this is what made me think about it... [url]http://today.reuters.com/investing/financeArticle.aspx?type=marketsNews&storyID=2005-10-20T223849Z_01_N20387253_RTRIDST_0_FINANCIAL-CAPITALONE-EARNS-UPDATE-2.XML[/url]

It makes me wonder if because they are having people file bankrupsy and what not due to the hurricane if they aren't pulling this crap. I specifically called them a week after they were to take these funds in July and was told I was denied. This lady last week argued with me that it was not with them. I just wonder if now because they are being hit by those affected by the hurricane if they aren't going back through their things and trying to bring up profits... hum..... I'm going to have to investigate more.

[Veronica1228]

Originally Posted by tigger22472

I just kind of had a thought, it's early and I haven't been to bed.. but here it goes, and not sure how it would impact me. This company is based in Florida. Now, again I've had trouble finding stuff for sure on this company but this is what made me think about it... [url]http://today.reuters.com/investing/financeArticle.aspx?type=marketsNews&storyID=2005-10-20T223849Z_01_N20387253_RTRIDST_0_FINANCIAL-CAPITALONE-EARNS-UPDATE-2.XML[/url]

It makes me wonder if because they are having people file bankrupsy and what not due to the hurricane if they aren't pulling this crap. I specifically called them a week after they were to take these funds in July and was told I was denied. This lady last week argued with me that it was not with them. I just wonder if now because they are being hit by those affected by the hurricane if they aren't going back through their things and trying to bring up profits... hum..... I'm going to have to investigate more.

I haven't been to bed yet either so I'll have to look into that tomorrow. I'll see what I can find on my end and get back to you.

[tigger22472]

Originally Posted by Veronica1228

I haven't been to bed yet either so I'll have to look into that tomorrow. I'll see what I can find on my end and get back to you.

Thanks I'd appreciate it... then I know what to fight back with

[tigger22472]

Actually Veronica.. after MUCH MUCH searching.. this is what it is...

Capital Financial , Inc.
2480 E Bay Dr Ste 28
Largo, FL 33771

[tigger22472]

Here's more info.. and it's not good...

[url]http://www.bbbwestflorida.org/commonreport.html?bid=90012583[/url]

I went ahead and filed a complaint because I tried all day yesterday to call and with how rude the lady was before I figure it would be best to deal through them. They just opened a year ago and already have 53 complaints already... ugh!! Lesson learned.

[Veronica1228]

Originally Posted by tigger22472

Here's more info.. and it's not good...

[url]http://www.bbbwestflorida.org/commonreport.html?bid=90012583[/url]

I went ahead and filed a complaint because I tried all day yesterday to call and with how rude the lady was before I figure it would be best to deal through them. They just opened a year ago and already have 53 complaints already... ugh!! Lesson learned.

Well, my bank was closed today, so I didn't have my usual resources available to me, but it seems like it might be a non-issue now. The company names are not as similar as they seemed to be at first. One is called Capital One and the other one is Capital Financial. I think they are different enough that even is there was some kind of Reg (which there isn't that I could find) about misleading FI names, this would not be a solid case against them.

You're right that this company is shady, but I can't think of any legal remedies that fall under my expertise. There are no Regs or Acts that I can think of that would help you. Maybe Jetx is around and he can throw his hat into the ring. Sorry, I couldn't help more.

[tigger22472]

Originally Posted by Veronica1228

Well, my bank was closed today, so I didn't have my usual resources available to me, but it seems like it might be a non-issue now. The company names are not as similar as they seemed to be at first. One is called Capital One and the other one is Capital Financial. I think they are different enough that even is there was some kind of Reg (which there isn't that I could find) about misleading FI names, this would not be a solid case against them.

You're right that this company is shady, but I can't think of any legal remedies that fall under my expertise. There are no Regs or Acts that I can think of that would help you. Maybe Jetx is around and he can throw his hat into the ring. Sorry, I couldn't help more.

Thanks for trying... I think I'm going to wait for the BBB and see what happens there. The complaint said I had to wait 30 days. It seems they have had MANY complaints similar to mine and I believe that I may have a much better chance getting my money returned seeing as I haven't signed anything yet. But again... lesson learned.