Will Capital One Revise Policies in Credit Card Agreement?

February 20, 2014, Written By Lynn Oldshue

Very few people ever read their credit card agreement, but there has been a public outcry over the fine print in Capital One’s agreement with their cardholders.

The updated contract says that Capital One “may contact you in any manner we choose” including calls, emails, texts, faxes or a “personal visit” at “your home and at your place of employment.”

Issuers having the ability to make a personal visit to you is not common among major credit card issuers, but it is found in the credit card agreements of some smaller banks such as Sunrise Bank of Arizona and United Bank of south Alabama.

Capital One claims that they do not enforce this policy on their customers. A company spokesperson told the Los Angeles Times, “Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work.”

There would seem to be no need to have this phrase in the agreement, and Capital One seems to be coming to that conclusion. The company is now reviewing the language used in the agreement.

In addition, the agreement contains another sentence that has consumers in an uproar: “We may modify or suppress caller ID and similar services and identify ourselves on these services in any manner we choose.” It seems that Capital One is giving itself permission to get people to answer their phones by having it look like someone else is calling. This is a practice called spoofing that is legal if the call is not defrauding someone.

But the bank claims that this is due to the policies of the phone company.

“We want our calls to display as Capital One on caller ID, and that’s the way they are programmed,” a Capital One spokesperson told the Los Angeles Times. “However, some local phone exchanges may display our number differently. This is beyond our control, and we want our cardholders to be aware of that potential occurrence.”



The information contained within this article was accurate as of February 20, 2014. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
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