Capital One Auto Finance

Capital One Corporation

1680 Capital One Drive

McLean, VA 22102

Regarding Costco Auto Financing Programs

Toyota is having a 3.99 and 4.99 sale on certain cars but we liked one that was not on special. I looked up the rate for Costco Auto Program and noted the rate for

August 25th as 5.74% on new cars glad we would be able to get that rate with the 790 credit score we had gotten when we pulled it up mid week to ensure we had

the 730 score required by Toyota for their 3.99% rate special.

Saturday morning I phoned the Auto Finance program, as instructed my email, to be told by Capital One we qualified for a 6.6% finance rate due to your credit reports.

I quoted our credit score to Moses, the representative I got, and he stated they look at other things besides the credit score. When I asked what other things he just replied that Capital One looks at all three reporting agencies, etc.

I asked to speak to the Credit Manager and was told that there was no credit manager in the office. After much logical debating on that I was put on the phone with Rebecca a "Representative Supervisor" who pretty much said the exact same thing as Moses. Finally, after much prodding about what could possibly be the cause

of this extra 1% she hinted that debt/income ratio may have been a factor.

Since we had (within days) paid off another loan balance of $2,500.00 I asked about Faxing a copy of the receipt to show that this debt had been paid she stated it

would not matter since it shows up on the credit report and I should file another application once it is off the credit report.

When I asked for the name and fax number of the Credit Department manager she treid to say there was none, but I eventually got a name of Jill Allison with a toll free

fax number, along with sniggering in the background and a statement that Jill was a man when I referenced the manager as she.

At this point I was uncertain that the information was correct so I researched and sent a fax to Richard D. Fairbank, CEO and founder of Capital One today Monday. August 28th, marked Urgent, Please Reply because we have a car ordered and need to know which interest rate was actually correct so we could decide WHO we

would finance with..

I explained the problem and asked if bait and switch was standard practice for his company or if this had been a Saturday mistake. I requested a confirmation fax as

to the interest rate that we would get and sent several pages of documentation that proved the previous loan was indeed paid in full, as well as, documentation that another account on one of the reports was not ours but someone with a similar name and proof that the company had requested from the credit bureau this be removed from OUR report.

I had fore warned Capital One that if I did not hear anything from them today I would file a complaint and build a website on their business practices.

This was sent hours prior to the end of the business day and no fax. Not even a phone call to say a fax would be arriving but no time today. This is my first complaint. Next is a complaint to Costco and possible cancellation of the account in exchange for Sam's Club account.

Secondly a complaint to the Attorney General and local television affiliates to warn people about their questionable business practice. It appears Capital One has joined their commercial "p[illagers". Cute commercials may initially get business but soon the word will get out and they will have no one left to Pillage by the looks of the complaint list here!

Delores and Donald Boone

Monroe, WA 98272

Comment On This

i paid off my car last month, i was told i would receive title in mail, 7 to 10 days, so, . waited.. no title. i phoned yesterday, approx. 26 days following payoff, i spent about 4 hours on phone, spoke to reps., in india, canada, and u.s. / they all told me different amount still owed, 40 dollars or so, and the automative message when i phoned, told me part of this was a late payment fee!. The guys in India, names are Andy and Nick, they are obviously from middle east, and i seriously doubt these are their names, since they couldn't understand my repeated attempts to explain to them my confirmation of last month, expecting title, etc. i asked if their mom named them as "Nick", and then next call "Andy", they assured me that these were their names given at birth, ok...i still owe on my car, my credit is damaged due to the "error" in the rep. that i paid the amount stated to last month. i never was told i owed anymore, why would i not pay another 30 or 40 bucks?, and cap. one wants to waste my time, tell me i'm wrong, have me pay a late fee, i never have been billed, and expect me to believe they are honest, when they can't even provide honest names. wow! capital one truly sucks.