Did You Take Advantage of Capital One's 0% APR Access Check Offer?
Last Updated on January 11, 2022
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At A Glance
- This Alert Affects
- Capital One credit card holders who accepted the company's 0% APR "Access Check" offer.
- Damages
- Consumers may be able to recover compensation for money acquired by Capital One through its alleged bait and switch scheme in operating its "Access Checks" program, in addition to other damages.
- Company(ies)
- Capital One Bank (USA) N.A.
- Additional Details
- Capital One offered customers three different options for taking advantage of the 0% APR Access Checks offer. Consumers could write themselves a check, transfer balances or make a purchase at an APR of 0% for 12 months through use of the company's "Access Checks."
- Date
- Capital One offered customers "a chance to save for 12 months" by allowing them to borrow money on their credit cards at 0% APR through the issue of its "Access Checks."
- Type of Lawsuit
- Class Action
Consumers who participated in Capital One Bank’s “Access Checks” program may be entitled to compensation in light of allegations that the company engaged in a bait and switch scheme when implementing this 0% APR offer. It has been alleged that the company committed consumer fraud and breached its promise to its customers of interest-free use of the Access Checks.
According to a class action lawsuit, Capital One offers customers “0% APR for 12 months” on funds borrowed through the use of its Access Checks. The bank states that it will assess a one-time charge equal to 2% of the funds obtained by writing the Access Checks, and it markets that beyond the 2% transaction fee, customers will not be charged anything if the Access Check funds are repaid by the end of the 0% APR offer’s promotional period. In reality, Capital One charges the transaction fee, and it may also be engaging in hidden practices that manufacture payment shortfalls which lead directly to increased interest charges, penalties, fees, and derogatory credit reports for its customers.
If you took advantage of Capital One’s 0% APR Access Check offer, you may be able to recover compensation for money acquired by Capital One through its alleged bait and switch scheme.
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