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Capital One least favorite credit card company in Illinois

Anyone who has a credit card should go over the statement with a fine tooth comb to ensure that only valid charges are being made on the card. For some Illinois residents, going over their credit card statements led to them filing complaints against the credit card companies. A recent report shows that Capital One is the least favorite credit card company for Illinois residents.

The Illinois Public Interest Research Group released a report on Jan. 14, 2014 that included statistics from the Federal Reserve's Consumer Financial Protection Bureau. It shows that between November of 2011 and September of 2013, consumers in Illinois filed more than 25,000 complaints. Of those 1,044 were against Capital One. Citibank and Bank of America rounded out the top three least favorite credit card companies.

A U.S. Senator from Illinois says that the CFPB was created to give consumers a voice. He says the bureau is meant to be an ally for consumers against financial industry abuses. He goes on to say that the bureau is helping consumers to get relief that will help them to be able to pay their bills.

The CFPB has helped consumers to avoid rate increases, fees and penalties since the provisions of the 2009 Credit CARD Act went into effect. Since 2012, the CFPB has taken action against some credit card giants that resulted in more than $800 million in refunds, with an average relief of $128 per customer.

If you go over your credit card statement and find that you are too far in debt, you might have the legal right to seek debt relief under bankruptcy codes. Exploring the options available to you might help you to find a suitable remedy for your situation.

Source: Rock River Times, "Capital One tops state credit card complaint list" Jim Haggerty, Jan. 22, 2014

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