Capital One Makes a 'Creepy' Mistake

NEW YORK (TheStreet) -- Capital One (COF) can be a little annoying at times, especially when you receive multiple credit card offers from the lender over the course of just a few days. But the company suffered from a lapse in judgment when it recently sent updated credit card agreements to its customers, and its attempt to stifle an outcry has so far been pathetic. 

While the updated credit card agreement didn't contain much in the way of new information on the company's collections practices, the language was alarming in some ways, and may have been subject to greater scrutiny by some customers brought aboard when Capital One purchased HSBC's (HSBC) U.S. credit card portfolio in 2012.

The Los Angeles Times on Monday described the terms of Capital One's updated credit card agreement as "creepy," since the new agreement includes language saying the company can make collection efforts by contacting a customer "in any manner we chose," including a "personal visit."

The bank made clear it could visit you at home or even at your place of work, when trying to persuade you to pay your late bill.

"The police need a court order to pull off something like that. But Cap One says it has the right to get up close and personal anytime, anywhere," according to the Los Angeles Times article.

Really? Maybe the newspaper has a point that visiting a customer at work is a bit extreme, but nobody needs a court order to visit your home. After all, salespeople make unexpected visits to homes, as do Jehova's Witnesses.

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