Capital One Platinum Costco MASTERCARD Consumer Reviews

Asked Costco to set up an auto-renewal for my Costco membership associated with my Mastercard when I renewed last year, this wasn't done so my Costco membership expired without my knowledge. No letter, email or calls were received either from Costco or Capital One regarding this issue. I only found out there was a problem when my card declined. Capital representative told me they had closed my account because I hadn't renewed my Costco membership and that my 650 dollars of cashback accrued was now non-collectable but advised that Costco could call and request the account be reopened. Went in and renewed my Costco membership and explained the situation. They called and asked for it to be reopened but there was no supervisor available to do so so I had to call back the next day. They then told me Costco had to fill out a form requesting the account be reopened detailing the reasons for missed membership renewal. Went in and Costco sent the form. Capital one denied the request even though it was from Costco whose membership I failed to renew. I've never missed a payment, my credit score is over 760, I paid my full balance owing every month. The fact that they can close the account with no notice and refuse to reopen it once I explained the situation and remedied the membership issue despite Costco's request is complete garbage. This is a terrible company with zero ethics and very poor customer service. Many of the reps are second language English speakers which make navigating phone conversation challenging and they can't help you once the issue is figured out. To boot Capital, one has been hacked and all their accounts information stolen. This is just a really bad issuer and we can all find better. Don't sign up, if you have any of their cards please switch.

In June of 2018, I contacted customer service by phone to close my account, as I wasn't using it. I received a statement showing my final balance as $0 and thought I was done. I moved, and obviously, did not provide them with an updated address, as I was no longer doing business with them. In August of 2019, I received a collections call, and after a great deal of digging, learned that my Costco membership was automatically charged to that account in October 2019 (four months after I'd "closed" it - clearly, that wasn't done properly). They had deleted my email address from the account because I didn't respond to any of their emails for a year (I wasn't using the card, why would I need to email them), and they were sending statements to my old address. The end result, I have a black mark on my credit history even though I did everything correctly. Live and learn - if you ask for something, get written confirmation that it's been done. And apparently, you need to send them email notes even if you don't have anything to say. Ridiculous processes, and shoddy customer service.

I have the same problem as others on this forum. Despite a spotless, 30-year credit rating and a high annual income, I was given a $3,000 credit limit. This is ridiculous and, for all intents and purposes, useless. I had a higher credit card limit when I got my first credit card as a student 30 years ago! I called Capital One and spoke to a customer service rep; she told me that they were 'legally limited' to how much credit they could extend. This claim was laughable - hell, the credit card kiosk in the airport concourse offered me a $10,000 limit without even a credit check (didn't need another card, so no, I didn't take it) - so I was transferred to their 'underwriting' department. The person I spoke with refused to look at my credit rating or income; they stated that CapitalOne will absolutely not consider increasing credit limits for a least 12 months. But wait, isn't the objective of a credit card company to increase use and therefore increase fees and profit? Wouldn't it make sense to increase the credit limit of someone with impeccable credit? Nope. The agent's helpful suggestion was to make more payments, earlier. I pointed out that if he looked at my account, he'd see that I have been paying off the balance in full every week, so I wouldn't be hamstrung by the sad credit limit. I also pointed out that it takes a minimum of five business days for payments from my bank to be processed by CapitalOne, yet when I make payments on my other credit cards issued by financial institutions outside my bank, the payments are processed in one to two business days. He helpfully suggested I change banks to facilitate payments to CapitalOne. The limit on this card is 1/10 of what I have on other cards and virtually useless. I only got it to facilitate transactions at Costco and to get the cashback rewards. Unfortunately, this has not panned out and I will be shopping for some other cashback Mastercard.

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 a credit score of over 800 and rarely carry a balance on any off my cards. With this Costco Capital One card, I actually had a credit of almost $600, meaning they owed me money. When my card expired and didn't receive a replacement card, I waited almost an hour to talk to someone. I was told that my account was on hold but no one could tell me why. The person confirmed that I had a credit of almost $600 but had no idea why my account was on hold. She said she had corrected it and I would receive my new card in a few days. After more than a month, I called again and was told my card had been mailed and it should arrive in a week. I waited for over two weeks, still no card. I called again and was told that it must have got lost in the mail. I promptly cancelled my account and told them to mail me my $600. Let's see how long it takes for them to give me my $600 back. Costco should really read these reviews and find a better competent company to partner with.

These guys had the worst service on the entire planet. I have applied for this card 3 times, each time they say "we can not approve your application this time, please apply after some time". I have followed up to find out what is wrong with the application. First of all, they don't want to tell you why application got rejected. As an applicant, I have the right to know what is going on. However, they keep blaming on other credit check agency and they say "your score is good, there is nothing wrong with the credit score". I am not asking for anyone else's information, I have the full right to know my information and what is wrong with it. My credit score is more than 750, which seems perfectly fine. No bad note on my credit. On each application, I get credit score reduction of 10 points. Now I feel I shouldn't even think to apply anymore. If you guys don't want to waste your time and credit score, don't apply. I learned my lesson, I feel it shouldn't happen to anyone that's why I had to write this review.

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'm shocked to see Costco actually picked this company for their CC. My credit score is 820, they offered me a $3000 credit limit and refused to check my credit report manually to see if they could offer a better limit. This limit is the lowest I have ever received for a credit card. I've never had any problems with credit..ever... I am 40 years old, not 19, and they tell me they don't know me..they need relationship history first... so they need to be careful. SERIOUSLY!? Great way to start that relationship.. 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

I agree with the reviews that state Costco should be ashamed of entering into an agreement with Capital One. I have always hated Capital One. However, after continuous pressure every time I went to Costco to sign up for this card, I finally bit. Despite the fact that I have an outstanding credit score they provided me with an initial credit limit that was far below my monthly expenditures. I pay my entire CC balances off every month and my other 5 cards carry quadruple the limit. When I called to ask for an increase explaining that this limit would not suffice I was told that it could not be done as it was a new account. I was told to wait one year and call back. After one year and the card being fully paid off on time every month, I called back. They still refused to increase my limit. I became quite angry and told them to cancel my account. This was mid-2017 and I was told that if I cancelled my account I would lose my refund amount which was sitting at approximately $500.00. I then decided that I would keep it until I received and cashed my refund cheque. This account has now been closed and RBC Westjet has my loyalty. Stay away from Capital One at all costs. It's not worth the hassle. I have also reduced my Costco shopping. I will spend my money at locations that don't make such stupid decisions.