Capital One Platinum Costco MASTERCARD Consumer Reviews

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.

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.

Costco auto-renewed their membership through the attaché Capital One card they had on account without asking me. I understood now that Costco auto-renews the membership and we agreed initially for it while we were signing a bunch of papers for membership. Anyway, it was just $64 and Capital One did not send me a statement for this outstanding amount. For this small amount, they submitted a report to the credit score department which brought down my Credit score. How can a credit card company without communicating with me raise a no-pay report to the credit card bureau is what I still can’t understand. That too for $64, I paid in full and had to cancel the card, will never be a member with Capital One

I have been denied 3 times by today with c.s. 730...I really don't think that anyone is checking the applicant credit score...Small advice: since it is only for Costco members, maybe you should check how much this Costco member is spending annually and calculate how much will you earn with your 19% interest rate. Anyway, thank you very much CO Canada, I won't be bothering you anymore

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

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 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?