Community Chat

[esmeraldagooch]

Capital One reserves the right to contact its customers “in any manner we choose,” including via phone, text, email, fax or even a “personal visit.” The personal visits can be “at your home and at your place of employment.”

[Preds]

Do they expect tea or drinks when they come to visit? How strange.

[serenity4ever]

NEW YORK (CNNMoney) — Relax Capital One customers. The bank says it won’t be showing up at your front door or office to collect on a delinquent credit card bill, even though rarely-read fine print in the bank’s credit card rules allow it to do just that.

That fine print was getting a lot of attention Tuesday morning, after being highlighted by a columnist in the Los Angeles Times.

The rules aren’t new but the L.A. Times column lit up social media and left the bank scrambling to reassure credit card customers. “Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work,” the bank said in an emailed statement.

The rules sent to cardholders are the same as those sent to anyone who buys sports vehicles, such as jet skis or snow mobiles, through a secured loan from the bank. If those buyers don’t pay off their loans, Capital One said, “as a last resort, we may go to a customer’s home after appropriate notification if it becomes necessary to repossess the sports vehicle.”

Following the firestorm created by the L.A. Times column, the banks said it may change the way its rules are written.

[RedHeadedWench]

It costs money to collect debts in any manner (I used to do this for a living).

I highly doubt that a multi-billion corporate banking company would send Sharky and Knuckles to your house to collect their money.

Just pay your bills...even if you cannot make the entire minimum payment...pay something.

[brii]

I imagine if debt collectors start showing up at people's homes or work, their lives would be in danger. Not a good thing at all...

[------]

On 2/19/2014 RedHeadedWench said:

It costs money to collect debts in any manner (I used to do this for a living).

I highly doubt that a multi-billion corporate banking company would send Sharky and Knuckles to your house to collect their money.

Just pay your bills...even if you cannot make the entire minimum payment...pay something.

[CouponQueen]

I think they can put whatever they want but they cannot supercede laws I would think.

Just because I agree to my neighbor hacking off his wife's head doesn't mean he can't get arrested for it.

[Preds]

Oh good. I won't need to make cookies.

[Wild Cherry]

They had better be careful about going to anybody's home with the SYG laws out there

[gazelle77]

I will have the coco and cookies waiting!