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Capital One To Make House Calls


chknwing

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Credit card issuer Capital One isn't shy about getting into customers' faces. The company recently sent a contract update to cardholders that makes clear it can drop by any time it pleases.
The update specifies that "we may contact you in any manner we choose" and that such contacts can include calls, emails, texts, faxes or a "personal visit."

 

As if that weren't creepy enough, Cap One says these visits can be "at your home and at your place of employment.

 

http://www.latimes.com/business/la-fi-lazarus-20140218,0,2211926.column#axzz2th0keIgy

 

 

 

 

 

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This opens up a can of worms. Will there be profiling? Will they avoid low income neighborhoods full of tough guys and try to intimidate middle class mothers? That is what this is about, intimidation. This is why I do not own a credit card. I also don't have a lot of stuff, to each their own.

I'll open my door with 95lbs German shepherd on leash and AR15 on my chest and with Ukrainian assent I will say "what do you need?"

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Turns out it has always been in the small print but just now was pointed out. Seems the LA Times decided to turn it into a social media firestorm. They just use the same small print on all their secured loans and that really is for debt collection for vehicles, boats, etc which I get. Looks like they are changing the small print for the card owner terms because they have never intended that for their card holders.

 

http://money.cnn.com/2014/02/18/news/companies/capital-one-credit-card/

 

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 (COF, Fortune 500) 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."

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Turns out it has always been in the small print but just now was pointed out. Seems the LA Times decided to turn it into a social media firestorm. They just use the same small print on all their secured loans and that really is for debt collection for vehicles, boats, etc which I get. Looks like they are changing the small print for the card owner terms because they have never intended that for their card holders.

 

http://money.cnn.com/2014/02/18/news/companies/capital-one-credit-card/

 

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 (COF, Fortune 500) 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."

 

The media? Misleading?

 

Naaaawwwww!

 

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