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!

On January 26 they supposedly changed and got rid of foreign transaction fees. They are thieves. I did three purchases today and as luck would have it I used debit, another visa, and this card. This card when converting from USA to Canada stole almost 10 percent from me!!! The others did not. Beware!!! Check your foreign transactions and tell me that I’m wrong..,,

The Capital One Costco MasterCard has a 2.5% foreign exchange rate fee added onto the conversion. Yes 2.5%. So if you travel outside Canada don’t use this card. It’s a rip off.
I guess someone has to pay what appears like a rebate to its members. Don’t be fooled!!!

Costco has collaborated with Capital One and giving/promoting the Capital One Mastercard. They say you have a limit of 5k and they have a system where you can spend more than 5k but if you spend over 5k with your card, they would charge you for going over the limit. In the first place, why would you have a system where the limit is 5k but customers can spend over 5k, and they don't tell all these hidden charges they make. They didn't send me a bill and their website was down for 4 days. Because of that my payment was late and they charged me interest rates. The way they have their website organized is messed up.

I have asked for a credit limit increase from $10,000 because it does not suit our monthly expenses. I have had credit cards for over 30 years, have steady Government income and have NEVER had a balance on my credit card (Never paid interest)
I called today to get an increase because I am tired of getting refused because my husband and I get close to our limit. I was first told that I was refused because my usage was too low!!! I have never had a bill under $3,500!!! I had another Master Card that I just cancelled with a $25,000 limit and an AMEX with $20,000 but I cannot get more than $10,000 on this one!!! I think they don't like customers like me who don't pay interest and get large reward cheques! They are still making money from the vendors! HORRIBLE card. I am upset Costco changed from AMEX.