NEW YORK (BankingMyWay) Credit card provider Capital One is caught in a vortex of its own this week a storm centered around language in its credit card contracts that implies it has the right to visit a customer's home to collect a debt.
The media jumped in, with the Los Angeles Times calling the visits "menacing and creepy."
After negative buzz in social media circles, Capital One issued a quasi-denial that it visited client homes to confront them over delinquent credit card debts:
We want to clarify what's been shared in recent news regarding information in our cardholder agreement about ways we can communicate with our customers.
Personal visits: Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work. The one exception is the limited case involving secured collateral. We have card partnerships with several sports vehicle manufacturers (jet skis, snowmobiles, etc.), and as a last resort, we may go to a customer's home after appropriate notification if it becomes necessary to repossess the sports vehicle
Phone calls: We want our calls to display as Capital One on caller id and that's the way they are programmed. However, some local phone exchanges may display our number differently. This is beyond our control, and we want our cardholders to be aware of that potential occurrence.
This language is not new to Capital One agreements. The agreement was recently sent to a group of customers as part of the ongoing HSBC integration.