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Capital One fine print means they can show up at your house to collect a debt?

In addition to providing timely infusions of purchasing power, a Capital One credit card can have many other benefits that people can use to their advantage. However, a Feb. 17 article from L.A. Times highlights some consumer concerns surrounding Capital One's fine print.

The Capital One fine print states: "We may contact you in any manner we choose" and that such contacts can include calls, emails, texts, faxes or a "personal visit."

"I think it's crazy -- I don't think they should be able to just run up in your house just because you didn't pay," said D.C. resident Anthony Pearcy, when asked for his opinion on the controversial Capital One fine print.

As the L.A. Times points out, these visits can be "at your home and at your place of employment." After news of the Capital One fine print controversy made its way through various social media networks, people expressed their outrage with comments like....

"Bad enough they know what's in my wallet. Now they want to know what's in my fridge?" tweeted Karen J Larson.

"Come to my house and get .40 caliber interest," said another Twitter user.

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Capital One attempted to do damage control after hearing of the firestorm their fine print created and the bank issued the following statement in a email

"Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work."

The firm also explained that the fine print rules are the same as those sent to anyone who purchases 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, as a last resort, we may go to a customer's home after appropriate notification if it becomes necessary to repossess the sports vehicle," Capital One explained.

The backlash as a result of the Capital One fine print may cause the bank to change the way its rules are written.

"We're considering creating two separate agreements given this language doesn't apply to our general cardholder base," the bank said in a statement Tuesday.

Things to remember when choosing a Capital One credit card:

  • Always remember to read all the fine print
  • Compare cards, not everyone has the same benefits
  • Choose wisely, choose the best one that best fits your needs (may take a bit of a careful assessment of your expenses)
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