Capital One

Overview

Capital One is a diversified bank that offers products and services to individuals, small businesses and commercial clients. We use technology, innovation and interaction to provide consumers with products and services to meet their needs.

Banking, Credit Card, Auto Finance, and Home Loan products and services are offered by the Capital One family of companies, including Capital One Bank (USA), N.A., and Capital One, N.A., NMLS ID 453156, Members FDIC.All entities are separate but affiliated legal entities of Capital One Financial Corporation, each is responsible for its own products and services.

Loan Features

Capital One Financial Corporation is a bank holding company specializing in credit cards, auto loans, banking and savings products headquartered in McLean, Virginia.

Capital One operates 3 divisions as follows:

Credit Cards – Capital One issues credit cards in the United States, Canada, and the United Kingdom. As of December 31, 2016, after JP Morgan Chase and Citigroup, Capital One was the 3rd largest credit card issuer, with an outstanding receivables balance of $91 billion, representing 12.1% of the total outstanding credit card receivable balance in the United States. As of December 31, 2016, Capital One had a total of $97 billion in credit card loans outstanding in the United States and $8 billion of credit card loans outstanding in Canada and the United Kingdom.

Consumer Banking – offers banking services, including checking accounts, saving accounts, and money market accounts. Also operates CapitalOne 360, a direct bank.

Auto loans – Along with Wells Fargo, Bank of America, Ally Financial, and JP Morgan Chase, Capital One is one of the top bank auto lenders in the U.S. by volume. As of December 31, 2016, Capital One had $48 billion in auto loans outstanding.

Home mortgage – Capital One was one of the largest mortgage lenders, with $21 billion in home loans outstanding as of December 31, 2016. It exited the mortgage industry on November 7, 2017, laying off 1,100 employees. It was the 12th-largest mortgage lender among banks standing at $20.6 billion worth of residential mortgages.

Commercial banking – As of December 31, 2016, Capital One had $66 billion in loans outstanding secured by commercial, multifamily, and industrial properties

Application Process

If you’re approved for an increase, it will be for the highest amount we can offer you. If you make your request online and want a lower amount, you’ll be able to tell us the amount you would like before accepting the increase.

When you submit your request, we’ll review your information. In many cases, we can approve credit line increases immediately. However, we sometimes need to review certain information to make a decision, and that may take a few days. If you’ve signed up for paperless documents, you’ll receive a letter in the Online Document Center 3 to 5 days after requesting a credit line increase. If you haven’t signed up for paperless documents, you’ll receive a letter by mail within 7 to 10 days days of your request

Repayment Terms

All payments are applied to your account on the scheduled payment date. Although you may not see the funds come out of your bank account for a day or two (possible more when due to weekends or holidays), the payment is still considered effective on that date.

We first apply your payment to the interest that has accrued since the last payment was received. We then apply the rest towards your loan balance or principal. Interest is based on the remaining principal, interest rate and number of days in the year. However, as the principal is paid down, monthly interest decreases as well. Extra funds first pay any outstanding fees and then are applied to the principal.

Customer Support

1-877-383-4802

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