Capital One introduced this week the pilot (and coming launch) of a brand new, free service that alerts clients to doubtlessly undesirable card fees that may in any other case go unnoticed. Varieties of easy-to-miss fees Capital One will flag for additional inspection by its clients:
- Duplicate fees from the identical service provider
- Recurring fees which have an sudden enhance, equivalent to month-to-month utility payments or cellphone fees
- Subscriptions that auto-renew with out enter from the client
- Free introductory services or products affords which have modified to paid companies after an introductory interval, equivalent to promotional journal subscription affords
Alerts come within the type of e-mail to Capital One clients, with data on the doubtless undesirable cost and recommendation on learn how to right the difficulty if desired. Capital One says that clients had been three occasions extra more likely to query fees when receiving the e-mail alerts within the present pilot take a look at.
Extra data on the Second Look service could be discovered at http://www.capitalone.com/credit-cards/benefits/second-look/