Tuesday, April 24, 2012
On June 5, Greedy Capital One Bank Will Charge You $8.95 A Month.
Like a dirty old man sneaking into a young girl’s bedroom, Capital One Bank is putting chloroform to their customer’s lips by imposing a new policy. On June 5th 2012; for any customer who has a checking account that doesn’t hold a daily balance of $300; you will be screwed-I mean charged, $8.95 monthly. I always thought this kind of charge was pure gluttony on banks part. So you’re basically telling the public if you don’t have enough money, u will be charged extra. It’s no wonder you can’t get ahead. Rich people get all the good incentives, tax breaks and the rest of us can eat dirt.
Why banks enforce this rule I don’t know. A friend of mine who is “high up” at a well known bank confided in me (after a few scotch’s) that some banks want their customers to use their banking debit cards and it’s a way to steer people towards that. This way you keep all of your money in the bank and use only your debit cards, where in turn *Visa and *MasterCard grease the oily palms of the banks with a fat fee for all the usage.
I see why the rich get richer and the poor get poorer. Living in Manhattan, some of us have a balance of $300 a day but it doesn’t stay for long. Basically you get punished if you don’t have enough money by banking with Capital One.
If you bank with Capital One don’t expect too many announcements given when the new charges come around; I got an email about it. I hope they don’t decide to charge me the week I pay rent and bills; if so, that’s an ugly new charge we’ll be paying.
I know other banks charge similar for checking account balances. What fries my chicken is; when the banks get bailed out, and receive generous holiday bonuses for all management; how can it be that they have money for bonuses but need to jack-up our rates, “because of the economy.” The cynic in me thinks they just want the extra funds for hookers, booze and cigars, and not because of their cries of poverty as they drive off in their Mercedes.
*MasterCard and *Visa are only used as examples and I am in no way saying they do this. My article is not to accuse Capital One of getting money from credit card companies and profiting from using their customers, but to entertain the public with my personal experience.