Capital One Platinum Costco MASTERCARD Consumer Reviews

WARNING. Compared to other Canadian MasterCard providers Capital One stinks. Capital One fraudulent charge protection and resolution are almost criminal. You loose rewards for having to cancel due to Capital One lacklustre fraud protection. Even after providing detailed information about the fraudsters they could care less. Costco should be ashamed of choosing Capital One. It reflects poorly on Costco.

Costco Mastercard NOT recommended! Good luck getting a reasonable level of credit. I have had mine for over a year and a half, have always paid it in full, use it regularly, and have a great credit score, yet they will not give me a credit limit increase. My other credit card has a limit of over 3 times what I have with the Costco Mastercard. Through reading online reviews it seems the norm that Capital One is keeping credit limits uselessly low on this card... I have a single Costco shop on my balance right now, and the limit is so low I can't even use this card to pay for today's car servicing and new tires. As soon as my rebate cheque arrives in the mail I will be cancelling this card. I am not posting this in hopes of getting my limit increased - I've already had that conversation this morning, but am posting it as an FYI for anyone interested in this card (and to let Capital One know this is an annoying game they're playing with this card!)

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.

I have waisted so much time trying to pay my bill and/or log in to my account ever since I got this card half a year ago that I sincerely regret getting it in the first place. Now I am locked out once again, on hold for 45 minutes simply trying to pay my bill without being late. I’m so frustrated and disappointed and I want to let others know that they are falling extremely short of their promises of reliable online banking and customer service.

I applied to get my credit card 2 months ago from Capital One because I’m a regular Costco customer, they gave me a temporary card and they were supposed to send me a permanent card, and I never received it, I phoned them to see why and they said that they had my address wrong, so they asked me again for all my information in order to send me another card and again I never received it, so I phone again hahahahaha and they said it was weird, so they send me a third one by express post, I finally received it and I phoned them to activate it and they said "Ok, everything is good now, you can use it", so I tried to use it and it was not working, I phoned again and the agent representative told me that they have to send me another one hahahahahaha I totally refused his offer and I asked him to cancel my account and everything, they have really poor and inefficient service... what can I expect from a small bank? Tomorrow I will go to get a real card from a real bank!!! It is disappointing and at the end of the way I don’t feel comfortable because I don’t know where my information is, should be somewhere in the city :(

Horrible customer service, no respect when HAD to switch from AMX...would not adjust limits for bigger purchases. They didn't even come close to what AMX was, & we always carry a zero balance with no debts. Said not biased but everyone I talked to was given different amounts, 2 years later they never raised, even my spouse got a different amount. Had questions about other things and would never get a straight answer. Long waits, rude. Bad move on Costco. We use a different M/C now

I have had nothing but problems with Capital One. I could not access online, then I could, now I can't once again, so I called Customer Service once again. First-round Customer Service was rude when I called for support, the second time I got the usual gobbly gook they are trained to say. I am happy to hear other cards can be used as I will not use Capital One.

The Capital One credit card is a joke. I get it with an 8k limit but I charge around 40k per month on my Presidents Choice financial card. I was talked into this card at costco and when I called they said they could not raise the limit for 1 year because I am a new client. So I charged about 3 times the 8k limit by paying it off and charging again. I did that for two months and tired of that so I overpaid my card by 5k thinking it could be applied to my credit limit. Well I was wrong, I charged 8k and its been 11 days and it still says I have no credit limit left when I clearly overpaid my card by 5k. I call in and they said overpayments dont count and I asked how it could take 11 days after it said payment processed to apply it to my account. I am going back to my credit card and have applied for MBNA, maybe I will have better luck there. Costco should know that the company told me they are not in the business of giving credit and the card is only meant to be used at costco. Yikes, what a response from Capital One, a joke of a credit card company.

Reasonably good benefits but certainly not "Costco" worthy. If you are looking for a high end card that you can use for most of your purchases, look elsewhere - there are plenty of better options. The allowed credit limit on this card is ... well, what you would expect for a young person with little to no credit history.

My wife and I were totally floored following a short conversation with a Capital One representative.

We are in our fifties, own three homes, make close to a quarter of a million dollars and have perfect credit. We use this card for almost every purchase me make (from groceries, to restaurants, to trips, etc), consequently maximizing our benefits. We pay our credit card balance each month to avoid interest charges. We have other credit cards that we do not use with limits in the twenty thousands. Recently we wanted to make a furniture purchase with this card but could not because it would exceed our credit limit of 11k. Given our credit history, we figured we would be able to increase this limit with a quick call. Well, lo and behold, the Capital One representative was quick to reject our request. We were both shocked, a request from 11k to 15k, this is really not a big amount! And they call their card "PLATINUM", more like bronze! In the end, we made the purchase with another credit card, a sale that Costco Capital One lost.

We are now looking at other financial institutions with credit cards that would better meet our needs.