Capital One and Service Members

[surfryhder]

Recently,

I contacted Capital One in hopes of getting a good will adjustment with the three credit agencies. Well the operator told me that I qualified for the Soldiers, Sailors Civil Relief Act because I was in the military and had moved overseas. She say that they have a very liberal approach and would make adjustments. I paid the remaining balance off and logged into my account today. Capital One has reimbursed me for all of the fees and fiance charges over the life of the card (6 years). Further they gave me a $1900 credit on my account. Has anyone else had this happen to them? I assume they are credits because the are in parenthesis exactly as payments are and charges are not in parenthesis. And my balance is this ($1,961.49) with a credit limit of $500 and available credit of $500.

Edited January 5, 2013 by surfryhder

[NAC]

It's not just Capital One. IT's the Service Member's Civil Relief Act. It reduces your interest rate to 6% and so then refunds all perviously charged interest fees. Chase did this for us (the only card we had during military) but we only got back about $300.

[surfryhder]

Yes, but if you incurred the debt while in service it does not count.

[prosumer]

I recently received a refund check from Capital One for an old account that has been closed for over 3 years. It was for exactly $1,961.49.