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Capital One Class Action Lawsuit Over Interest Free Grace Period

Recently, a consumer class-action lawsuit was filed against Capital One Bank. The Capital One Class Action Lawsuit alleges that the bank allegedly misled consumers, by promising an interest-free grace period on charges when, according to the plaintiffs, consumers who do not pay off their statement balance in full by the due date lose the grace period on all future purchases. (Dress et al v. Capital One Bank (USA), N.A., Case No. 18-cv-268, E. D. VA.) The Capital One Lawsuit complaint alleges, instead, that “if a Capital One consumer fails to pay his entire balance by the
statement due date, then Capital One takes away the interest-free grace period on all future purchases, causing interest charges to accrue the moment a customer makes a purchase. This is true regardless of whether the consumer pays his upcoming credit card balance in full. Accordingly, contrary to their reasonable expectations, consumers are charged interest on new purchases that are paid in full by the statement date.”

For your convenience, a full copy of the Capital One Class Action Lawsuit complaint is embedded below:

Editor’s note on the Capital One Class Action Lawsuit:

This piece is written about the recent Capital One Lawsuit. If you are considered eligible to be among the class of consumers described in the class action, you may eventually be able to participate in receiving any compensation the court may award.

If you believe that what is alleged in the Capital One class action has affected you, please don’t hesitate to reach out to us. We’d be happy to help you take a step in the right direction, fight this issue, and better enable you to join the consumer class action. If interested, please send an email to Outreach@ConsiderTheConsumer.com, find us on Twitter or Facebook, or even connect with us directly on our website! We look forward to hearing from you all.

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1 thoughts on “Capital One Class Action Lawsuit Over Interest Free Grace Period”

  • Ray Nelson says:

    What “grace period” do you refer to? Very confusing given I have a 12 month no interest “grace Period” on a consolidation transfer (it did cost 3% origination fee) and in addition anything I charge in the meantime if paid off on due date suffers no interest charge. But keeping track of balance and minimum payment (etc) is difficult when you mix them so I never make other purchases until this is paid in full within 12 months.

    What I am doing seems like a very good deal to me. What am I missing?

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