Capital One Platinum Costco MASTERCARD Consumer Reviews

I have had this card for one year now as we are avid Costco shoppers and decided to reap the benefit of some cash back. I have never encountered such terrible and disappointing customer service with any other credit card that I use (AMEX, other MC). My credit limit is $8000, this must have been determined from the initial credit and salary check conducted. I know we spend more than this but figured the credit limit will be increased in good time as soon as Capital One has evidence of timely & full payments each month (I have an impeccable record with credit cards/bills - never late, always paid in full). It's been a year, I've declined numerous times due to being at the limit and unbeknownst to me, they even allowed a transaction to go through a bit over the limit (under $100), and then charged me a $29 over-limit fee!! I requested a few times for Capital One to increase my limit and they refused, and said it would have to go through upper management for reconsideration, and that they would need to do another credit check and salary check - I refused as I feel I do not need to be begging Capital One, they should be harassing me to increase the limit - crazy! I have never seen anything like it. In addition, cash back refunds are due in Jan/Feb, I did not receive mine until the following June as I kept calling Capital One to state I did not receive a refund, and they kept saying "It's in the mail". Terrible service, I will contact Costco to complain, and will likely cancel this altogether.

Should you forget to make the total monthly payments, they will hit with total interest charges and whatever you have spent for the month even though your new bill has not arrived. No one can explain the average monthly system but it’s highway robbery! They simply just charge you over and over and over again for interest. Every month I had an 80$ interest on one month with a small balance of 1000$. My visa had 4000$ and I didn’t get charged that much. That’s when I decided to never use this card unless it’s necessary. Bring cash to Costco or use your debit card. It’s better in the long run or you end up having to pay double for the lousy cashback offers. What’s in your wallet...? A crappy Capital One card!

Also! When they cancel your card for inactivity /not renewing with Costco like they tried to do automatically with the crooks, they cancel your cashback too! I was going to take breathers in between renewing but will never go with Costco or Capital1 again. Only Canadian Tire Master Card is just as bad and I don't shop there anymore either.

We tried to use our Costco Capital one card for a transaction to payout another credit card. After a credit amount went into the capital one card they froze our account. Unbeknownst to us of course. So when we went to use the card...nope, declined. After a number of phone calls, they informed us it was frozen because of fraudulent activity!! Really?? We transferred the money!! So we asked to have the money transferred back and were denied. We were told that our banking institution had to make the request. This is after countless calls and umpteen people giving me a different answer every time. Our banking institution made the request on May 1st. I was originally told it would take 2-4 weeks. After making a call today, I was told it would be 4-6 weeks. What was supposed to be a simple transfer between cards turned into a cluster ****. And to top it off, if I wanted to do a cash advance, I could only do one for $300 per day. I would have had to have done 10 to get my money back at what cost? Since the interest rate is off the charts I called and asked to have it raised just for one day even so I could do the transaction and was declined. I asked if I could have my credit limit increased so I could do the transaction and declined. I will never recommend this company or card to anyone!!! This is the worst experience I’ve ever had that has left a terrible taste in my mouth.

This is my second year having Costco Mastercard credit card. On their website/agreement, there is a statement and cash back coupon that is supposed to be sent on January automatically but I never got them. It takes several attempts to contact them for them to send back cash back coupon. Last year I got them in late May and right now, I've called them several times already to get my cash back. Warning others that it takes way longer for them to give you rewards

I just got this credit card and I cannot say more terrible things about it. The online system looks like it was made in 1982 and it never seems to work. Their system always crashes - it even happened when I was on the phone with the company making a complaint. The worst part is that returns take 8-10 business days to process. I had a $7,500 charge which was refunded an hour later because we changed our minds on the purchase. A few days later, I was unable to make a charge on my account and I was confused. It was so embarrassing. When I called, I was told that the return would take 8-10 business days to process. It's funny that they were so quick to process the charge yet not refund it. When I called, they said there was nothing I could do about it. I asked if they might up my credit limit by $500 just to allow me to use my card for a few days while the return was being processed and they declined. I didn't want a higher credit limit, I just wanted to be able to use my card while I was waiting for the return to go through. If that's the kind of customer service they provide, then they don't deserve my business.

I've had this card since Costco joined with Capital One and MasterCard. All I can say is that it stinks. I get OK cash back amounts but the TD Visa will give me way more for my money. My card recently was going to expire so I called them....I got through and the representative issued a new card but then cancelled my current one without telling me. I found out the next day when I went to pay for something. This then impacted a couple pre-authorized payments. I then called the company and they apologized but said my new card won't come for 10 days. I asked for the complaint department twice and was put on hold for 30 mins. They came back and offered me a card to be sent in 5 days and a $30 dollar credit. I asked again for complaints and was advised of what they just gave me and how I had just been compensated. When the new cards come, they will be cancelled. Plus lets not forget the lengthy time it takes for them to process payments. Some months it takes up to 8 business days for a payment to go through. CRAP CUSTOMER SERVICE!

I still can not " forgive " Costco for switching from Amex to Capital One ! If you try to compare PLATINUM service of American Express with Capital One - there is no service at Capital One . When I applied for the card ( when Costco just started to offer it ) I picked the option to be notified by email if there is any big transaction appeared on the card ,no worries I am getting them but 3 to 4 days after transaction !!! Just to compare -Amex - the same day . When you do your payment it will take minimum 3-4 days ( most of the times 5-6 days ) to see money on the card ( Amex will notify you next day early morning that they received your payment ) , Try to increase your limit ....... and it will be the last drop . I can go on and on and on . If I could give a half a star I would , plus I would lower Costco rating too because of that card. DO NOT DEAL with Capital One , save your nerves .I am closing it.