Capital One Does Not Protect Your Purchases!!

I am writing to tell others to consider other cards when making big purchases, and keep Capital One in Your wallet (if not the wastebasket). Here is my story....

I purchased a Videocamera from a store (Computer Electronics, 345 Lincoln Road, Miami Beach, FL 33139...also avoid this place) for a vacation I was going on. Needless to say the camera stopped working in the first 2 hours. I tried to return it, and the vendor refused. I brought the videocamera to a Ritz Camera (good guys) who told me that the camera was used, and showed me rust inside the camera. I immediately contacted Capital One (since it was a platinum card), who told me to return the merchandise and send them a fax with the details, and that they would credit our account, fair enough.

Well, the vendor rejected the delivery, and Capital One re-billed our account, saying the vendor posted a rebuttle and that was enough for them. So I got a broken used camera, and Capital One became complicit in breaking the Truth in Lending Act Statute concerning policies for credit disputes (longer story...but needless to say, Capital One does not seem to care about consumer protection laws).

So I called and complained, and was finally able to get copies of the vendor's "rebuttle" which turned out to be a footnote that clearly stated "have the customer return the goods and credit their account," Now how Capital One overlooked this and tried to shoo me away is beyond me. So upon bringing this to their attention, they said "Oh! (Read DUH), send it back" and send us another letter.

So I sent it back, and the vendor accepted, and instaed of a credit, I received a letter that stated thatthey closed my case and could not get involved as I went past an internal deadline (I sent it back immediately), which is also counter to the way they are legally required to behave in the Truth in Lending Act (A good read for anyone dealing with Capital One...follow this link http://www.federalreserve.gov/pubs/Complaints/default.htm

So it seems that I am stuck with no merchandise, out of $288.00, and the best Capital One can do is to say that there is nothing they can do due to this policy, even though I have been charged and have no product, this is not fraud. They also said I should take it up with the vendor, to get my money back (as if...)

So I am filing a complaint with the Federal Reserve Board, asserting that the actions of Capital One ran counter to the Federal Truth in Lending Act Sec. 226.12 Special credit card provisions. And although this will be time-consuming, it may help to ensure that no one else has to deal with having to try to return merchandise purchased on Capital One cards, especially a platinum card, where you assume protection is built in. I would not have this issue with a MBNA or Citi card.

Bruce Baron

Baron Business Services

303 Pawtucket Blvd. # 23

Lowell, MA 01854

617-970-6206

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