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Capital One clarifies cardholder agreement

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McLean-based Capital One made headlines earlier this week when a Los Angeles Times article surfaced saying the bank updated a contract to say it could contact cardholders any way they chose, including showing up at their house or workplace.

In a statement on its website Capital One is now saying that’s not the case.


“Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work,” the statement says.


The one exception involves secured collateral, Capital One says.


“We have card partnerships with several sports vehicle manufacturers (jet skis, snow mobiles, etc.), and as a last resort, we may go to a customer’s home after appropriate notification if it becomes necessary to repossess the sports vehicle,” says the note on Capital One’s website.


The L.A. Times article also said Capital One’s contract update said it could use local phone numbers or masquerade phone numbers to get customers to pick up their phones.


In regards to the phone calls, the bank says its calls are programmed to display as coming from Capital One on caller id’s, “However, some local phone exchanges may display our number differently.  This is beyond our control, and we want our cardholders to be aware of that potential occurrence.”


The bank also said the language was not new, and was sent to a group of customers as “part of the ongoing HSBC integration.” Capital One apologized for the confusion and said it is now reviewing its language.


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