Employees and Customers

At Capital One we are committed to putting the customer at the heart of everything we do. We want to be open about charges you may receive, what credit reference agencies do, and how we can help rebuild your credit score. We also take care to ensure we offer true financial inclusion with a variety of credit card products to suit peoples different needs, whilst lending responsibly.

Charges

Like other credit card companies we do make charges to our customers who go over their credit limit, make a late payment, have a payment returned, or have a credit card cheque returned unpaid. However, we critically review our policies on these charges from a customer perspective to ensure that they are fair and clear.

When you become a Capital One credit card customer, we'll send you a welcome pack - this contains all the information you need to manage your account, as well as tips on preventing identity theft and credit card fraud, and how best to avoid charges, and using your online account servicing.

Any charges made on an account are clearly displayed on the customer's credit card statement.

Credit Reference Agencies and Rebuilding your Credit

Responsible lending is important to us. To help us process customers' applications we use information from Experian and/or Equifax, the two major credit reference agencies in the UK. They supply us with a potential customers' credit history, which helps us decide how much affordable credit we should offer. This information is gained only with the permission of the potential customer.

Checking your Credit History

If you want to check information held about you by the credit reference agencies, you can do this by writing to them. They will need the addresses you have lived at over the last 6 years, and a cheque for £2.00 made payable to Experian or Equifax depending on which you choose to contact. Visit the Experian or Equifax websites for more information.

If you are a Capital One customer, register for Capital One Identity Alert to get access to your credit report.

Financial Inclusion

Having a credit card enables you to do more than spread the cost of your purchases. It opens up possibilities such as taking advantage of offers available to Internet customers only, on-line shopping, and purchases over the phone.

We have a responsibility to make sure that financial products are available to as wide a population as possible, whilst still taking account of responsible lending.

At Capital One we have an Information based strategy to ensure we offer as many customers as possible a credit card, with a credit limit they can afford.

We make sure all literature is written in plain English and educate our customers on how to use their credit card and avoid paying charges. We have reviewed our statements and letters to make sure that they are refreshingly clear.

Rebuilding your Credit

Capital One has a range of credit cards with different credit limits, which may enable customers to rebuild their credit history by starting off with a relatively low credit limit. By making regular repayments and by not going over the agreed credit limit, customers can begin to rebuild their credit history which means that they may become more attractive to other finance providers such as mortgage lenders.

Mailing Preference Service (MPS)

Along with other companies that use direct mail, Capital One supports the Mailing Preference Service. The Mailing Preference Service enables people to remove their name from the lists that are used by companies who send out offers to consumers via direct mail.

Responsible Lending

As a consumer finance provider, we go to great lengths to ensure we lend responsibly. However, it is the nature of our business that some of our customers may find themselves with changed circumstances which mean that they are unable to make repayments.

We work directly with our customers to understand the reasons why they are having difficulties and help them to resolve these problems. We will work with our customers to enable them to repay what they owe in a manageable way. We also have a specialist department to give additional support to customers who may be experiencing particularly difficult circumstances such as bereavement and illness.

If you need help

If you are a Capital One customer and you are having difficulty making repayments please contact us on 0800 952 4966. If you would like more help to manage your finances, avoid or manage debt you can receive this from Capital One or other organisations you may owe money to. Alternatively there are a number of agencies that can give you independent free help and advice.

Third Party Debt Management Agencies

There are a number of fee paying debt management agencies, often referred to as Third Party Debt Management Agencies. These are companies who will charge a fee to manage the debts of a person who has got into difficulty making repayments to a number of organisations.

Capital One works with customers directly if they have fallen behind with repayments or if changed circumstances mean that they will be unable to make the minimum repayment.

Customers who choose to use a Third Party Debt Management agency should always check the small print thoroughly to be aware of any additional fees they may be charged. They should also check the amount of repayment that is going to each organisation to ensure that the original loan/ credit is being paid off at a level that they are satisfied with.

There are a number of organisations that can give you free help and advice if you are in debt, including the organisations that you owe money to, so it is worth considering them before paying for help.

Money Advice Trust (MAT)

The Money Advice Trust formed in 1991 to increase the quality and availability of free, independent money advice to people with debt problems. Independent money advice is proven to help people who are struggling to manage their debts. The Money Advice Trust works with its partners to make sure people with debt problems have access to the money advice they need.

In 2008, the Money Advice Trust is aiming to support over 135,000 clients and supply over 5,800 training places to money advisers who will be qualified to offer advice and guidance.  Capital One continues to financially support the Money Advice Trust each year to support this valuable work.