Problem:
I have some information on unethical business practices from Capital One Credit cards, can you help with more information and sites?
Case Scenario:
Capital One has been sued for unethical business practices for unethical promotional practices. Capital One was offering to give consumers one dollar of new credit for agreeing to transfer the whole balance of previous cards tor accounts that were charged off to a new card. What made this unethical is they were using this so they could get around the statute of limitations and start fresh. Capital One would issue cards that had limits as low as $200 for consumers who were classified as low income or had a poor credit rating. These cards had membership fees of like $59 a year! These annual fees were just billed on the bill the second month of having the card. This in turn was deducted from the $200 that was given and left only $141 of credit, without the consumer knowing. This then has the consumer exceed the credit limit and face a penalty of "over the limit" fees of more than $25.