Capital One Platinum Costco MASTERCARD Consumer Reviews

During these hard times, I find it hard to believe that Costco Master Card still charges 25% interest on purchases, and cash withdrawals. I called customer service about this, and they said they are working on this matter. That was five months ago, and nothing has changed. “Visa” was kind enough to drop from 19% to 10% and so forth with other financial institutions. Thank you Costco Master Card for your lack of support during this pandemic hardship

I was laid off from my job and missed 2 payments, my interest went up to 25%, I've made every payment for several months and they won't lower my interest back until a full year. Talk about a company taking advantage, and that 19% isn't enough for them... they need to get extra out of you. Customer service is reading from a book, slowly, but still reading.

Like another user here, my card was declined during a grocery run. For no reason. My payments had all been done on time. They keep charging at least 24,9% throughout the pandemic.

Unbelievable! A little short ($50) one month (May) by 2 days and the interest they charge they are still charging months later is nuts! (now July)? I consistently pay more than the balance every month as I have been using the card a lot so I pay more to lessen the amount next month - however, apparently this isn't enough for the greedy company who have now charged me 3 times the amount I was short several months ago - they just keep it going every month and I don't know why? The guy on the end of the phone kept saying something about several months ago and then every purchase is subject to the compounding - what I thought this was now illegal- wasn't there a case in court several years ago where credit card companies couldn't do this anymore?

This is literally the worst credit card I have ever had. I also carry 2 Amex Corp Platinum cards (one US, one CAD), a personal Gold, a CIBC Aerogold, and this card is only in my wallet because COSTCO forces us to use this junk. 2 times now I have missed payments because they force you to go paperless and they don’t email you balance updates or notifications of statements being available. They said: Well, sir, you can just log in and check. I said: this is 2019 - oh, and when I called on Christmas Eve not knowing why my card wouldn’t work at the store their customer service dept. was closed! On maybe the busiest shopping day of the year. This is a dumpster card, which I’m guessing is geared to low-income people they might want to take advantage of or want to stick them with interest charges. I now have to set a reminder to check for my statement. Anyways, Costco I love you. Turf these idiots. Your Amex was amazing. I’m sure that you can now see you get what you pay for in life and how they are saving that money they charge you. By cutting corners and pissing your customers off.

Very poor customer service and they will purposefully allow you to go slightly over credit limit in order to ding you an exorbitant penalty.

I switched to Capital One Master Card when Costco ended its partnership with Amex, so I have had this card for the past 3-4 years. I use this card for my business expenses. I have tried to increase my credit limit twice and both times have been rejected. On one occasion I was asked why I needed the increase. I told them I was planning to make a purchase that would put me over my limit. Still, they denied my request and couldn't care less. When asked why, was told I don't use my card enough and that my monthly spending is low and rarely reached the limit. HUH? I have always paid the balance on time as I do with my other 5 credit cards with a much higher limit than Capital One's. Are they expecting customers to spend up to the limit every month in order to consider granting a credit limit increase? Really, it is not Capital One's business how much I spend. If I ask for a credit increase, it is because I need it. Do they realize that while the average person's monthly spending is lower than the limit, there will be the occasional months where you have that extra expense that puts you over the limit? At first, I couldn't find a logical reason for their policy but found out their strategy after receiving my latest statement. On the months that you go over your limit, they will charge you an "OVER LIMIT FEE" of $29. And remember, once you go over your limit, you cannot continue charging more purchases to your credit card. So it's simple...they don't increase your limit and make an extra buck from you. Well done, Capital One...I have started using another MC with double the credit limit and you will not have me as a customer as soon as I receive my cash rebate. Shame on Costco for not doing their homework and partnering with a shameless company that would care less about their customers.

I have had the Costco Capital One credit card for over 4 years and have never missed a payment, until recently when I was away and missed one payment. My card got suspended without any notice at all. It simply failed with authorization at Costco gas station when I was trying to fill up the gas on my way to work. I immediately made the full payment online and called Capital One to lift the suspension. They said there is nothing that can be done until the payment is cleared, which takes 4 days. This is unheard of with any credit card company. They charge the interest on the missed payment AND suspend your card at the same time! What is going on with Capital One?

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!