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Essay / Research Paper Abstract
A 5 page paper. Capital One is among the top ten credit card companies in the U.S. The company has more than 46 million customers worldwide. This paper considers the company's policies and asks whether or not they are ethical. Since it is so hard to obtain all their specific policies regarding credit card approval, the available information is used, in conjunction with personal knowledge of credit cards, to ask if certain policies regarding interest rates, fees and distribution of consumer information is ethical. It may be legal but is it ethical? Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGcap1eth.rtf
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Unformatted sample text from the term paper:
is one of the top ten credit card companies in the United States (Hoovers, 2002). The company has a huge consumer information database that it uses to match a potential
credit card customer to one of its many different credit cards (Hoovers, 2002). The different cards carry different interest rates, different credit limits, different finance charges and different fees (Hoovers,
2002). The type of card that any customer is granted will depend on that persons annual income, credit rating, and how much the customer knows about credit cards and the
credit card industry. "Preferred customers" may be offered platinum or gold cards with higher credit limits while other customers whose credit rating is not so stellar will be offered lower
limits and higher interest rates and fees for unsecured cards or they may be offered unsecured cards (Hoovers, 2002). Having a very limited credit history also results in the higher
interest, higher fees and lower limit cards (Hoovers, 2002). The company does not print its policies on its Web site. It does state that it collects information regarding consumers
from: * Questionnaires and forms that consumers submit (Capital One, Privacy, 2002). * Transactions with them and others, e.g., account balances, fees, payment history, parties to transactions, and credit
card usage (Capital One, Privacy, 2002). * Credit bureaus to determine if customers would be eligible for other products they offer (Capital One, Privacy, 2002). * Public sources, such as
census data and real estate records (Capital One, Privacy, 2002). * List vendors; membership lists, such as magazine subscription lists (Capital One, Privacy, 2002). * Web-based tools when people visit
their Web sites, such as "cookies (Capital One, Privacy, 2002). The company also says that it will disclose information it collects on consumers and customers to: * Other companies in
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