Capital One – Survival Guide

Perhaps it is my deviant mind that finds something a bit wrong with Capital One’s card lab commercial with shipwreck survivals-you know, the one where they one guy logs onto the internet, designs a credit card with a hamburger instead of calling for help for the rest of the survivors.

I’m not quite sure where Capital One was going for with this commercial and I can only imagine they thought it was cute. With a near 9% nationwide unemployment rate and thought to go higher while people are surviving this credit crisis Capital One wants to distract us with meat. Not to mention many are surviving and worrying how to put food on the table for their families. Point taken, Capital One credit cards are more important than people’s survival. To me this says Capital One doesn’t care if we are having difficulty surviving, putting food on the table, as long as we use one of their cards.

Now perhaps I am being too strong here, but since credit crisis Capital One jacked up interest rates on many consumers. I, with the help of Easy Financial Solutions called to talk to Capital One about my high interest rate. After being passed around for a half an hour they said my interest rate would be lowered on my next bill due to my good payment performance. Guess what, they lied. My interest rate was not lowered. What a surprise. And guess what-I transferred my entire Capital One balance to another card with a zero percent interest rate. Take that for survival Capital One!

Here’s the thing with Capital One. You can’t raise interest rates because your business is suffering, especially when you received a government bailout. You can’t change billing cycles for profit. You can’t claim credit reform will hurt business when you spend so much money on commercials. My credit union charges 9% interest rate and they have no high overhead for a big marketing budget. They pass on their savings to their customers. And you can’t lie to a customer and then have the nerve to put out a commercial say you care. It’s deceptive.

Capital One says – Consumers eat cake! On in this case, eat a hamburger.

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2 responses to “Capital One – Survival Guide

  1. Pingback: Interest Rates » Capital One - Survival Guide « Ooh Baby Compound Me

  2. Hi, interesting post. I have been wondering about this issue,so thanks for writing. I’ll definitely be subscribing to your blog.

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