Tag Archives: fees
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Baldwin replies to Capital One post, defends spokesmanship

31 Dec

Baldwin responds to Capital One post and defends spokesmanship

Or at least someone responded from Alec Baldwin’s foundation. Yes, I think it’s commendable that Alec Baldwin has a foundation that supports “the arts and artists, amateur and professional”. However, as I stated in my reply to the pictured tweet, Capital One is making way more than $11 million on their Venture accounts, and that is money that should be in the pockets of American families and not those of overpaid bank CEO’s. In fact, MSN money deemed Capital One’s CEO, Richard Fairbanks, the most overpaid bank CEO of 2012.

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Capital One offers fun in the sun at 13.9% interest (at least)

30 Dec

With the end of the holiday shopping bender and consumers feeling their massive buying binge hangovers, credit card companies are likely to capitalize on those who are currently cash strapped.

So right on cue, Capital One sends a credit card offer arriving on December 28 to rescue those who don’t have money for their New Year’s Eve party (or maybe a real emergency). This offer is for their Venture card, which features 2 miles per $1 spent on every purchase AND 50,000 bonus miles, if you spend $3,000 in the first three months…what?! That’s more disposable income than most families have in a year, let alone three months. Don’t forget the $59 annual fee.

Credit Card Hawker, Alex Baldwin

Alec Baldwin hawking high, variable interest rates.

But we’re only getting started with the dirty details.

The Annual Percentage Rate (APR) is 13.9% and is based on the Prime Rate, which means it’s going to go up. The APR for cash advances is 24.9%, again based on the Prime Rate. These are not unheard of numbers, but here’s the kicker…

If ONE payment is missed and/or ONE late payment is made, the APR will jump up to 29.4% INDEFINITELY! Additionally, a $35 late fee will be assessed AND the miles earned during the period of the late fee will be forfeited. Ouch.

So the next time you see Alec Baldwin imploring that these are “miles you can actually use”, remember Capital One is not actually interested in getting you to your dream destination, but instead intends to steal all your money via their high interest rates and fees, so you won’t actually be able to afford the vacation once you arrive. But that’s what the Venture card is for, right?

What’s in your wallet?…hopefully NOT the Capital One Venture card.

Sandy = more credit card debt

3 Nov

Hurricane Sandy struck on Monday, October 29. By 1:03a, Tuesday, October 30, I received an email from Wells Fargo stating late fees would be waived on credit cards, consumer and certain small business loans, including home-equity, auto and student loans. What a nice gesture towards those hit by Sandy.

Wells Fargo Fees Waived

The email also advised me that “Fees normally charged to you for using another bank’s ATMs when you use another bank’s ATM in Maryland, Virginia, Washington, D.C., Delaware, Pennsylvania, New York, New Jersey and Connecticut” will be waived.

Wow, Wells Fargo! Really earning some consumer brownie points. These two acts of financial compassion during a disaster will ultimately affect their income, but this was the least they could do to “help during these difficult times.”

But then, 24 hours later, I receive an email from Bank of America.

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