A report published by NJPIRG says Capitol One is one of the worst credit cards for New Jersey according to consumer complaints.
The report from NJPIRG stated Consumers were most likely to complain about billing disputes (16 percent of complaints), followed by difficulties with APR or interest rates (10 percent) and trouble with identity theft, fraud, and embezzlement (7 percent).
Spokesman Peter Skopec says the report analyzed data from the Consumer Financial Protection Bureau, a federal agency that monitors complaints to ensure banks are not ripping off consumers.
“Something that’s really key is the CFPB should make sure to really aggressively publicize the database and also the resources that it has for consumers cause really the more people take advantage of those resources the more effective the CFPB is going to be and the more likely the banks are going to be to actually improve their practices and be more consumer friendly.”
Skopec says there is some good news, nearly 40 percent of complaints result in some tangible or monetary relief, nearly $800 million nationwide. According to the report Capital One got the most complaints of any bank statewide.
Samuel L. Jackson appears in the latest Capitol One credit card commercial. Perhaps we should let him know that he should choose who he works for a little more carefully. Get in touch with SLJ here:
