Consumer SOS: Credit Card Company Finally Pays Back Senior’s $12,000 Overpayment | The Canadian News

Ben Tanti is not your average credit card customer.

Instead of making a minimum payment, or paying the full account balance as usual, Tanti mistakenly overpaid her Capital One Costco Mastercard last October.

The 79-year-old man from Toronto slipped an extra digit when he was paying his bill online.

“It’s a $12,000-plus problem,” Tanti told Global News in an interview.

Tanti thought it would be easy to convince Capital One bank to repay the overpayment. Instead, he says, it was impossible.

“I’ve been talking to over 12 agents,” Tanti said, pointing to handwritten notes with the names of customer representatives and managers he contacted by phone in an effort to get a refund.

Each, he said, was sympathetic; some promised that they would return the overpayment to your bank account. But the promises were not kept, he said.

One day, after more than six weeks of trying, Tanti called Global News for help.

“I told one of the officers that I had had enough. You were my last resort,” Tanti said.

Trend stories

• 

  Quebec to impose a tax on people who are not vaccinated against COVID-19

• 

  A study from the University of Ontario shows that CBD may offer some protection against COVID-19

Accidental credit card overpayments happen for a variety of reasons. If the amount is relatively low, many customers don’t bother seeking a refund because if they use their credit card for purchases, the amount will be applied to their next statement.

On the CapitalOne.com website, the bank outlines its obligations to anyone who requests their money back after making an overpayment.

“If you overpay your credit card by more than $1 and request a refund, your credit card company must send you a refund within seven days of receiving your written request,” advises Capital One.

That didn’t happen, even when Tanti made multiple requests. But a few hours after Global News emailed the bank on Tanti’s behalf, Capital One responded.

“We apologize for any inconvenience and sincerely regret that Mr. Tanti was not satisfied with your experience,” a spokesperson wrote.

“We recognize Mr. Tanti’s frustrations with this situation and are actively investigating,” the representative added.

The next day, Capital One contacted Tanti and returned $12,117.34 to her bank account.

Capital One also promised to pay $55.20 interest on the overpayment and send you $250 for your trouble. Tanti insisted that the money be sent by check.

Tanti credited the eventual credit card refund to Global News.

“Thanks to you,” Tanti said, relieved to have his money back and no longer have to call the company several times a week.

In October 2020, Costco and Capital One mutually agreed to end their credit card relationship.

Starting in March 2022, anyone with a Capital One Costco Mastercard will have their account transferred to CIBC, which is now the exclusive provider of credit card services for the retailer.