Capital One Now Blocks Crypto Purchases

Just this past week, I learned that my Capital One card could no longer be used for crypto purchases.

I tried buying from Coinbase, and the purchase was blocked. When I called Capital One, I was told there was no way to unblock as the company had instituted a blanket ban.

I am now warning people, on Reddit and on Steemit, about the ban, and encouraging them to sign up with other card companies.

I have asked around on r/Bitcoin, and I have been told that Chase Freedom cards are better suited for buying crypto. Some also recommended Citi cards.

In the meantime, I only have one thing to say about Capital One: avoid it like the plague. It is not going to be ready when the legacy financial systems are transformed/destroyed.

Last year, I had made several crypto purchases with my Capital One card, and I never had disputed charges for those transactions.

I did, however, have my credentials stolen once by a gas station scanner, and the thieves used my card data to buy $600 in gift cards. Capital One did nothing to stop those transactions. I had to notice them myself on my statement and manually cancel the charges.

tl;dr : Capital One is a dinosaur company that is now blocking purchases from any crypto-related company. They don't have our best interests at heart.