Capital One Platinum Costco MASTERCARD Consumer Reviews

After a year of using this card with a 2000 credit limit, we requested an increase. In a typical month, we would spend 8000 on it and pay it every couple of days to ensure there was always available credit. We would typically use it for about 150 transactions a month. Hence, one can see why the need for an increased limit... My wife, who has an Equifax score in the mid 700s with no other debt but mortgage and a car loan was denied an increase, not because of any debt servicing or missed payments and not because of a low credit score...but because 'we didn't use the card enlightened' according to Capital One!!! Once we get our reward cheque in Jan, which will be valued at over 1100...we are done with this card!!! Costco should be ashamed for partnering with these fools...a hit to Costco's reputation!

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!

I have cancelled my other 20K credit limit card and applied for this one last year. Got 6K credit limit which was not bad for groceries. Called them to increase credit limit few months after - refused. Today had found out that I have $0 credit available. Called them to increase credit limit to 10K - refused. I have a very good credit history and a bunch of other credit cards with up to 30K limits with low limit/balance ratio. Wanted this card to be my main one. Will be cancelling Costco membership together with Capital One MasterCard this is how much I pissed off.

Sometimes the tap function won’t work and it blocked for some reasons.
Bad customer service. I will never use them again.

Has been a frequent customer at Costco. Thought to give this credit card a try. Worst decision ever. It has been 3 months since I applied, still haven't received my card due to "logistic issue", at least that is what they called it. And none of the customer service or their manager takes the responsibility of fixing the problem. One manager even told me to go get another MasterCard, which is super bizarre. Yes, I am getting another MasterCard now, and I would recommend everyone to take that manager's advice. Go get a MasterCard elsewhere!

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.

They automatically renew your Costco membership after they sell you this card in their store. Then, if you do not maintain your Costco membership, they cancel your card! STAY AWAY!

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.

We have had the Capital One Mastercard for 8 months with a relatively low introductory credit limit. We have spent 5x our credit limit every month and paid the card every 3 or 4 days. After 8 months of this, we called in for a credit limit increase (moderate request of an additional $2 or 3k) and we were given a scripted answer that we need to wait at least 12 months before being evaluated for a credit increase. The card simply doesn't align with Costco's demographic that have mid to high incomes with related spend needs.

I have never had a credit card when you receive a new card and refresh your pin, the card needs to be 'declined' 3x in order for the card to synch with the new pin!!! This is embarrassing for the company and for the card user. Who likes to have their card declined 3x at a merchant and have to explain that this is how the card gets synched up with the new pin? This is absolutely disgustingly ridiculous! Suggest the company invest in technology and capable personnel to align their customer service like the other banks. If this is not the only joint credit card I have with my husband, I'd cancel this in a heartbeat. Negative rating if there is an option for me!