Capital One Financial Corporation is an American bank holding company headquartered in Tysons, Virginia, with operations in the United States, Canada, and the United Kingdom.[1] One of the largest banks in the United States, it is the largest issuer of credit cards in the United States, and is one of the largest car finance companies in the U.S. It owns the Discover Card, Diners Club, and Pulse payment networks.[1] The company's three business segments are credit cards, consumer banking, and commercial banking.[1] It has approximately 750 bank branches, including over 60 café style locations,[2][3] and 7,000 ATMs in the United States. The company's corporate headquarters are in the Capital One Tower and its European headquarters are in Trent House, Nottingham.
The company is ranked 82nd on the Fortune 500.[4]
The company helped pioneer the mass marketing of credit cards in the 1990s.[5][6]
History
1994–2004
Richard Fairbank and Nigel Morris developed the idea of using information technology and statistical analysis to create customized credit card offers for different segments of customers in 1987. At the time, most credit cards would offer the same terms—interest rate and annual fee—to almost everyone, regardless of the financial risks of each customer.[7] However, Fairbank and Morris' idea was to drop the fee and target various credit card terms to specific customers. They consulted with Oracle Corporation on how to compile the demographics and other statistics that would help them sort out and identify those customer market segments.[8]
They then started soliciting banks regarding using their approach, indicating that they anticipated large profits based on the large numbers of customers they projected to enroll.[9][10]
Television advertisements
Between 2010 and 2013, Alec Baldwin was the spokesperson for Capital One's television ad campaigns.[103] Following his 2013 confrontation with a videographer reported by TMZ, his contract was not renewed,[104] and he was succeeded in the campaign by Jennifer Garner.[105]
In 2012, Capital One released an advert featuring British power metal band DragonForce. The advert showed Herman Li and Sam Totman playing guitar on an asteroid while using Capital One's mobile app.[106][107][108]
Sports sponsorships
From 2001 to 2014, Capital One was the principal sponsor of the college football Florida Citrus Bowl, which was called the Capital One Bowl from 2003 to 2014. It sponsored a mascot challenge every year, announcing the winner on the day of the Capital One Bowl. The name of the bowl game was changed in 2015 to the Buffalo Wild Wings Citrus Bowl.[109]
Capital One is the title sponsor of the Orange Bowl since 2015.[110]
Capital One Venture X is the presenting sponsor of the Rose Bowl Game since 2022.[111]
Capital One has been a major sponsor of the NCAA since 2010.[112][113]
Legal actions
Fines for misleading customers to pay extra for services
In July 2012, Capital One was fined by the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau for misleading millions of its customers, for example by requiring customers to pay extra for payment protection or credit monitoring when they took out a card.[123] The company agreed to pay $210 million to settle the legal action and to refund two million customers.[124] This was the CFPB's first public enforcement action.[125]
Automated dialing to customers' phones
In August 2014, Capital One and three collection agencies entered into an agreement to pay $75.5 million to end a consolidated class action lawsuit pending in the
External links
- (Canada)
- (United Kingdom)
References
- Capital One Financial Corporation 2025 Form 10-K Annual Report United States Securities and Exchange Commission, February 19, 2026^
- Locations^
- Russell Falcon. What’s the deal with Capital One Cafés? Nexstar Media Group, March 15, 2025^