(32) ��Capital One Down : Deposit Problems, Glitches, Network Errors -- Bank at Your Own Risk !! - YouTube

(32) ��Capital One Down : Deposit Problems, Glitches, Network Errors -- Bank at Your Own Risk !! - YouTube



capital one has been a company that has had many many breaches in security over the years. My alter ego has a one card with a 500 limit and on two statements I have had to phone and get the false payments deleted.

so I took it to the limit and cut up the card. If they sue me, living in Scotland, their legal fees, in many jurisdictions, will be huge with no guarantee of any return. Indeed, under scot's law, I may pay them on the day of any court case and leave them with their legal fees, as no case would have taken place.

People are afraid of credit cards, simply because they do not understand the law. Most card companies have main offices in England and you will see in tiny print., 'subject to English law.' In addition, no witness signature is needed which is needed in scot's law, to borrow money.

If you live in Scotland, get into financial difficulties and cannot pay, you are subject to scot's law and certainly not English law. A card company must engage an English legal firm, who then must engage a Scottish legal firm, to pursue any outstanding debt.  With legal fees of probably 750 an hour for each of the two firms, chasing 1,000 debt just ain't worth it. Of course, this is why interest rates are so high.