How does Capital One make a profit? They must spend $50-$100 a year sending offers to our household alone. Last Monday, we received four offers from Capital One (two for me and two for Grace). After opening each envelope, putting materials with our names on it in the shredder basket and recycling the rest, I felt disgusted enough to call them. Fortunately, they answer quickly because they think you're calling to apply for a card.
I explained how I was sick of receiving offers and wanted to stop receiving them. That wasn't a problem. I made the mistake of giving them Grace's info first. Here's the approximate conversation:
"I'm not speaking to Grace, am I"
"No, she's not home right now"
"I can't remove her name without her permission"
"I'm the person who has to shred these things, and I don't want them crossing my property line!"
"We're not allowed to take her name off without talking to her"
"Look, I can give you good intelligence information that Grace will not take you up on your offer. You should act on that intelligence and save your company some money. That shouldn't require her permission."
"I'm sorry, we can't do that sir"
"OK, I'll make it easy on you. I forgot to tell you that Grace is dead"
"Sir, this is a recorded line and you may want to be careful about any misrepresentations you make"
That seemed rather threatening, although I doubt any jury would ever convict me of fraud, and I can't imagine Capital One having standing to sue (for saving them money?). I relented, and resuming polite conversation we managed to get my name off the list. In 6-8 weeks our house will become a Capital One free-zone. I recommend calling, just make sure that everyone you want to remove (or at least someone whose voice can pass for the proper gender) is in the room.
Apparently, I am not alone.
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4 comments:
But what about the Capitol One offers for 6 yo Iris? Will they accept our request to remove her from their mailing list because we are her guardians? Or will they insist on speaking to her themselves? But it wouldn't be legally binding because she is a minor.
It's more like 6-8 months. I called to and spoke to Terry. He was very helpful - but not - since I am still receiving one or two offers per day! I wish they would give me a cash back bonus equalling the wasted paper and postage instead of all this wonderful shredded spaghetti paper.
Bev,
I thought they had stopped, but I'm getting them again. Aparrently, there's a service similar to the do not call program that tells credit card companies that they can't send offers to you. One day I'll look it up and post it on my blog.
The part that's still mind boggling is that Capital One must make a tremendous amount of money out of the few people who actually respond. How else can they justify the cost of these mailings?
I'm sure there are enough people that respond to those credit card offers. Capital knows how to spend money to make money
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