You don’t know Fairbank? Let me introduce you:
You’ve been at the helm of Capital One a few years longer than I’ve been a Capital One customer. Not too many, really, but a few.
In the time I’ve been a Capital One customer, I’ve bought college textbooks, paid for Master’s classes, gone to Europe, played in San Antonio, learned in New York, sent my daughter to Europe, and Vegas, man, I’ve loved Vegas.
I’ve been a great customer. I never missed a payment, paid above the minimum due, paid it off a time or two. My Capital One card was my friend, but I wasn’t irresponsible with it, unlike you and yours who insisted on giving cards to 18-yr-old college kids and credit crazy people with 10 maxed out cards and mortgages they couldn’t afford. Under your leadership, people like my daughter (a college freshman) were encouraged to open accounts and get “free gifts.” She got no less than 20 pre-approved Capital One card offers this school year. A family member of mine who’s deeply in debt to the point of disaster also has your cards. Notice the plural S. She got the cards AFTER her debt crisis.
So back to me.
I’m a great Capital One customer. Put me on your ads as an example of the kind of person you WANT. You make money off of me, but I’m a great risk.
By next week, I won’t be a Capital One risk anymore because today I got my Capital One bill and my interest rate has gone up by over 11 percentage points.
God help the poor person who’s a credit risk!
I called your account managers tonight. They were foreign and pleasant, and they let me know I didn’t really have any options here. Well, they’re wrong.
I don’t know what you and all your banking executives are thinking, but I hope all your good customers, people like me, do what I’m doing. I’m checking out of the Capital One market. Next week, I’m cutting up your card, and my husband is cutting up his business card (it never carries a balance, so you didn’t make much off him).
Once again, let me make sure I say it: thank you, Mr. Rich Fairbank. Under your watch, the US became a credit crazed society, and I joined right in. And under your watch, I’m checking out. You have a great day.
(fitting that this was blog post 1000)