Capital One Financial Corporation

Review: Last year, we received unsolicited calls from Capitol One Credit card services for a closed credit card that we were trying to pay off and make monthly payments. They continued to offer a "settlement" in which they would take less than the amount owed as payment in full. We finally agreed to pay $4000.00 in a lump sum to settle the $5800 remaining debt. I was dubious as they never sent anything in writing, but my husband went ahead and paid it. They closed said we had paid off the debt after they received the payment. Then in January of this year, they sent us a 1099-C for the balance they wrote off and we have to claim it as "income" and reported it on our credit as a "discharged debt" negatively affecting our credit and now affecting our ability to refinance and we may not qualify for a temporary loan for a grant of $56,000.00 from the Carl Moyer foundation my husband received to replace the diesel engines in his fishing boat. He is a commercial sea urchin diver. AT NO TIME DID THE CAPITOL ONE REPRESENTATIVES TELL US THAT THIS WAS WHAT WOULD HAPPEN. Not only did they get a lump payment of $4k from us, but screwed us with the credit report and debt discharge that they receive credit for. We would not have done this had they put anything in writing that informed us of this ( like I asked to do). How many other people did they use this tactic on? This was definately a planned action on their part and was done by keeping us in the dark about the legal ramifications. It's ridiculous that it is now counted as income against us as every dime we borrowed from them on the credit card was repaid as well as significant interest. Does not seem right!! Imagine if they did this to a million people! They should not be able to do this without written informed consent and signing that we know this is what we are entering into.Desired Settlement: Removal of negative credit report and new policy for company requiring them to send complete disclosure on what a settlement means that needs to be signed by consumer.

Business

Response:

[redacted]I am responding to a complaint filed with the Revdex.com (Revdex.com) about your CapitalOne account. Thank you for providing your feedback about our settlement process. We do striveto provide excellent customer service on all of our calls and will use this feedback to makeservicing better in the future.Due to delinquency the account charged off on July 14, 2012, with a balance of $3,987.80 andthe account was settled with the last payment received on July 30, 2014, in the amount of$661.13.On August 2, 2012, the account was placed with [redacted]. Payments were made twice amonth for $75.00 from August 28, 2012, until May 14, 2013. A repayment plan was set up onJuly 24, 2013, for $146.89 for 18 months beginning on July 26, 2013, until July 8, 2014. Ourrecords show a call was placed to the agency on July 24, 2014, requesting settlement of thebalance. At the time of the call, the disclosure regarding the issuance of the 1099-C was read. Itwas also read again on July 24, 2015. A settlement was offered for the amount of $661.13,which was accepted. Please note, that if we cancel or forgive $600.00 or more on a debt youowe, we are obligated by Federal Law to inform the Internal Revenue Service (IRS). As such, a1099-C was not issued. I’ve confirmed that the account is being reported as settled after chargeoff. Because this account is reporting correctly, we are unable to modify this information.I appreciate the opportunity to address your concerns. If you have any additional questions orconcerns, please give me a call at [redacted], Monday through Friday from 9 a.m. to 5:30p.m. ET. I’m glad to help any way I can.

Consumer

Response:

I have reviewed the offer and/or response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

I would like to have verified that I called on July 24, 2014 requesting a settlement (you say your records show that. Who called? Me? [redacted] Source?). In fact, it was [redacted] Source who continued to call me and offer settlements without ever explaining the tax implication! I finally agreed when the amount seemed okay. Why would I agree to a settlement that left a balance of $661.13, that is~ $62.00 over the $600.00 debt forgiveness for tax purposes - that doesn't make sense! I don't believe you are aware of how [redacted] Source, whom you placed my account with, dealt with me.

Review: I had a Capitol One credit card sense I was 16 and I am not 23. I hardly used it because the APR was always outrageous. In March of this year my wallet was stolen. So I had to close my bank accounts. Capitol One has to wait a few more days for the money and because of this they reported to the credit agencies. So after the fact of my wallet being stolen I called and canceled my account with them because I never used it anyways. I went to a bank to get pre approved for a loan because I was never late on any bills and had a 720 credit score. when the bank told me I had a 603 I was in shock! Because I canceled the Capitol One card I didn't know of a balance of around $117 (the $117 was only from interest, not a purchase!) and 116 days late!!!! Because they DID NOT call me, send me a letter or an email I was unable to fix it right away before it was reported! Now I cant even buy a home.. They had an email that wasn't even mine! This is unacceptable!! Now my credit is even worse because THEY made mistakes!! This is against the law and they violated my rights as a consumer!!!!! Please do something about this company because they are ruining credit of honest, hard working people!Desired Settlement: I want my Credit Fixed!!! I was supposed to buy a home next month and now I cant because of my credit score!!

Business

Response:

We were able to update the late payment history.

Review: On or around June 1, 2012 I activated the credit protection benefit associated with my card account, according to the terms of the contract after 9 months if I were still unemployed the benefit will pay a lump sum credit to the card account balance. In my case April 1, 2013 was the 9 month date. I supplied all documentation required and was approved for lump sum credit but to date the credit has yet to be issued or applied against the balance on account. I am constantly receiving calls stating I am past due, over the credit limit. This is an every day occurrence. Each time I call the credit protection dept, I am told the credit will be issued within two billing cycles and two billing cycles have come and gone and still no credit. In addition, I am in need of a replacement card which at first I was told could not be processed due to the fact, the credit protection benefit was activated. Subsequent to deactivation of the benefit I contacted [redacted] again requesting a replacement card be issued only to be told my request can not be processed due to a security alert associated with my credit file. I contacted all 3 credit reporting agencies and each assure me there is no security alert associated with my credit file.Desired Settlement: What I want is what I am entitled in accordance with the terms of the agreement entered into between [redacted] and myself. A credit in the amount of 292.92 issued against the principle balance on account as well as a replacement card.

Business

Response:

Dear Mr. [redacted]:

We were recently notified by the Revdex.com of your complaint about the Unemployment benefit and your request for a replacement card. We value your feedback, and we're glad to share more information about this.

Our records indicate that on June 5, 2013, the Unemployment Lump Sum benefit in the amount of $[redacted] has been posted to your account. In addition, I credited the account $[redacted] in Late Fees and $[redacted] in Interest Charges. You'll see these credits on your June 2013 and July 2013 billing statement.

Our records indicate that you have contacted the Personal Account Protection (SM) Elite Administrator on September 20, 2012, requesting benefit activation for the Unemployment benefit for the Date of Qualifying event being July 1, 2012. At that time a benefit activation claim was established, case number [redacted]. The benefit was approved for benefit activation. On October 1, 2012, the account was credited $60.00 in Late Fees, $[redacted] in Personal Account Protection Elite fees, $[redacted] in Interest Charges. As you Unemployment status lasted longer than nine months, the account was approved for the Lump Sum benefit on April 10, 2012. Regrettably, the lump sum benefit was processed on the closed account ending in [redacted], for this reason the credit for the lump sum benefit was not posted to the new account number ending in [redacted].

With regard to your request for a replacement card, as you were able to verify your phone number on June 11, 2013, our Fraud Department issued a new card to you at the address as referenced above. Per our policies and procedures, the account ending in [redacted] was closed and a new account number ending in [redacted] was issued. Please allow up to 14 days to receive the new card.

Please note, our records indicate that a Fraud Extended Alert was submitted through the Credit Bureaus, and still reporting on your credit profile. You must contact the consumer reporting agencies and provide them a contact telephone number which will allow any financial institution to be able to verify your identity, or you may adjust the alert type.

As of the date of this letter your account has a current balance of $[redacted], with a minimum payment of $[redacted] due on July 1, 2013.

If you have additional questions or concerns, please give me a call at [redacted], ext [redacted] Monday through Friday from 7:00 a.m. to 3:30 p.m. PT. I'm glad to help any way I can.

Sincerely,

Office of Executive Resolutions

Capital One

Consumer

Response:

I have reviewed the information provided by the business from [redacted] in reference to complaint ID [redacted], and find that this is satisfactory with me. I understand if I do not receive the replacement card within 10 to 14 business days, I can get back to you at: [email protected].

Review: Given the recent history of credit and banking institutions, it would only make sense that transparency of billing processes be enhanced to their optimal level.

Currently, Capital one runs charges to the credit card in a sequential order without provide a running balance. I have two additional cards with other organizations and they provide a real time running balance so that the consumer is best informed of the pending charges and make more responsible financial decisions.

I generally pay my entire balanced within 5 to 30 business days each month, but it is extremely difficult to reconcile my account when there is no balance from one transaction to the next. Given that the standard for other financial institutions is to provide this running balance, I can only assume that Capital One is intentionally omitting this practice in an effort to confuse and push for clients to incur additional debts.

I think it would be of most benefit to all parties involved for Capital One to follow better business practices. This is a simple fix and one that falls with general industry standards.

Please advise.

Regards,

[redacted]My complaint concerns: a Credit CardDesired Settlement: Change the all billing systems to reflect on going available balances so that clients can better reconcile billing.

Business

Response:

Dear [redacted]I am following up with you regarding the concerns you filed with the Revdex.com(Revdex.com) regarding our billing process. Thank you for speaking with me on April 12, 2016. I’m sorryfor any frustration this may have caused.I understand that you would like the balance to reflect all recent and posted transactions on youraccount. Recent transactions are transactions that a merchant is closing on but has notcompletely posted to your credit card account. These types of transactions will usually officiallypost within 24 hours. There are many factors that may affect the posting of transactions. Toensure the information is accurate, we include only posted transactions in your current balance.Although some transactions may not reflect in your balance immediately, all transactions areremoved from your available credit. This information is available online at Capitalone.com,through our mobile applications - Capital One Wallet and Capital One Mobile Banking, and byphone using our automated system or when speaking with a representative.In review of your account, our records show that you are enrolled in our Online Services. Youmay also set up automatic monthly payments using AutoPay. AutoPay is a convenient optionwe give our customers to maintain a good payment history without the hassle of setting upindividual payments. You may choose to have the minimum amount due, the statement balanceor a fixed amount ($35.00 or greater) automatically paid from your checking account on yourpayment due date.I want to assure you that Capital One adheres to all applicable laws and regulations as it relatesto the billing of transactions.If you have questions or concerns, please give me a call at [redacted] Monday throughFriday from 8 a.m. to 5 p.m. ET. When contacting me, please be sure to have the following sixdigit phone PIN available: [redacted]. I’m glad to help any way I can.

Review: Capital One customer credit card department set extra hurdle particularly for me by asking me faxing over my social security card, driver license, W-2 form and paycheck stub for only my credit card activation -- the credit card application has been approved and the card has been mailed to my home address, and yet they asked those confidential documents when I called to activate the card. Plus I have both saving and checking accounts with the bank. They have all my personal information already.Desired Settlement: Explain the reason why they refuse my credit card activation when the application has been approved and card has been mailed to me.

If no solid explanation, activate my credit card!

Business

Response:

Dear [redacted]

This letter is in follow-up to our phone conversation about the fraud restriction that was placed

on your account. We value your feedback, and we would like to share more information about

why this happened.

As discussed, we reached out to Capital One Bank and were able to confirm the information on

your savings and checking accounts matched with the information on this account. We

unrestricted and reopened the account on October 16, 2014. The account may now be

activated.

Our records show that on September 29, 2014, we restricted the account due to identity

concerns we had because information was not matching with what was being reported by the

Consumer Reporting Agencies. We sent you a letter expressing these concerns and requested

that you contact us (copy [redacted]). You called us on October 6, 2014, and requested that we

activate your card, and at that time we asked you to fax in verifying documents in order to

validate your identity. You refused and told us that you had concerns about sending sensitive

information. You also told us that you did not understand why we could not compare the

account information with the information that we have on file for you on your savings and

checking accounts. To clarify, our Fraud Department does not have access to your savings or

checking accounts, since we only service the credit card. We closed the account per your

request that same day. Please know, this is part of our verification procedures and we do this to

keep your account secure.

Again I am sorry for any inconvenience this matter may have caused. If you need another credit

card or have additional questions or concerns, please give me a call at [redacted] Monday

through Friday from 8:30 a.m. to 5 p.m. PT.

Sincerely,

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's offer. If you wish, you may update it before sending it.]

I have reviewed the offer made by the business in reference to complaint ID[redacted], and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved. If the company does not perform as promised I can get back to you at: [redacted]

Regards,

Review: I had not received any statement for my capital one credit card ending in 9551 for August and September of 2015. They were sent to wrong email address and regular mail statement were not sent to me either. I was alerted by the credit bureau and I called capital one. They removed the late fees and the representative told me that they would remove the late payments from the credit bureaus as well since the statements were not sent to the correct e mail address.I followed up on that several times and I was told the same thing that the late payment history would be removed. I just checked my credit report and the late payment of 30 days for Sept 2015 has still not been removed. Kindly help me in resolving this issue with capital one since it is badly affecting my credit worthiness. ThanksMy complaint concerns: a Credit CardDesired Settlement: Removal of 30 days late status for September 2015 from my credit report.

Business

Response:

Dear [redacted], I’m reaching out to you about your

request to Revdex.com (Revdex.com) regarding the information we’ve

reported about your account to the Consumer Reporting Agencies (CRAs), like

Equifax and Experian. We confirmed your account was enrolled in online banking

on September 9, 2013, with the email address of [redacted] On June

11, 2015, you requested to have online statements only, selecting to no longer

receive statements in the mail. We attempted to send multiple alerts to the

email address on file but they were returned. Payments weren’t received for the

July 12, 2015, and August 12, 2015, due dates resulting in a 30 day past due

payment history for September 2015 reporting to the CRAs. On September 20,

2015, you contacted us by phone and made a payment for $265.67. At that time,

the agent credited back the past due fees of $25.00 and $35.00 that had been

billed and your email address was updated to [redacted] We were

unable to confirm you were advised the past due payment history would be

removed. The agent you spoke with submitted a request to our Credit Bureau

Department to remove the 30 day past due payment history. We responded to you

via letter on September 24, 2015, advising we were unable to honor your

request. The response letter is enclosed for your review. On December 2, 2015,

you called advising you disagreed with the response and another request was

submitted for review. When the request was submitted, the agent put the

incorrect year for the information you were disputing. We apologize for any

inconvenience this may have caused. On December 30, 2015, you called us again

requesting the past due payment history removed. The agent submitted your request

for additional review. We responded to you via letter on January 1, 2016, again

declining your request. The response letter is enclosed for your review. We

made the decision to remove the past due payment history from your credit file

as requested. A request has been submitted to the CRAs to remove the 30 day

past due paymenthistory for September 2015. The confirmation number for this

request is [redacted]. Please note, it may take up to 60 days for the agencies to

update their records. Upon review of your account, I verified you again signed

up for online statements only. The email alerts we have since attempted to send

you at [redacted] have been returned. Please log into your account on

our website at [redacted] to update your email address if it is not

correct. You can also call the number on the back of your card to update it

over the phone. If you have any questions or concerns, please give me a call at

[redacted], Monday through Friday from 6:45 a.m. to 3:15 p.m. PT. When contacting

me, please be sure to have the following six digit phone PIN available: [redacted].

I am happy to help in any way that I can. Sincerely,

Review: I received a letter dated September 13, 2013 that stated "after one or more payments we restricted your account and asked that you send a valid payment so I could use my card again....etc., etc. I called Capital One on September 21, 2013 to find out what this was about because I reviewed my payment history to see if anything had been returned and it had not. The representative I spoke to also confirmed my payment history and said all payments had been made on time and that she could see no letter being sent to me at all. She suggested I contact the Revdex.com to report this letter being sent to me in error and the false statements that were made in it.Desired Settlement: I am very uncomfortable that this letter was sent and I am hoping it wasn't some attempt from someone to gain access to my account. I would like to be reassured that my accounts are safe from someone else having access to my information.

Business

Response:

We determined the letter related to the April 2011 returned payment on the account and that credits were applied on August 29, 2013. We advised our customer of our findings and that the credits are reflected on the September 2013 billing statement.

Review: I called [redacted] to let Capital One know that it has been well over ten days and I have not received the credit card I was supposed to get. I was going to ask them if they have mailed it yet. I was transferred to some section that dealt with fraud. in order to verity my identity I was asked and I told them, my birthday, my phone number and my social security number. I then asked if the card was already mailed. they said they cannot tell me that information unless they can be sure by asking me more questions. I then told them to cancel my account and the person I was talking to said that's not possible. person's name is [redacted] and his number/identifier is [redacted] all this happened on Saturday 21 February 2015, about 2:15 pm. the conversation lasted a little over 14 minutes. the reason I wanted to cancel was I had experience the same thing happened while I was still in the Navy. one of the sailors applied for a credit card. a card was send and the PIN separately. another sailor got them and started using them. and the bills started coming in. it took a while, but the second sailor eventually got busted.Complaint concerns: a Credit CardDesired Settlement: tell them to cancel my card. I do not know why I have to keep giving any more private information.

Business

Response:

Dear [redacted], I’m reaching out to you about your concerns forwarded to the Revdex.com, regarding our verification process. Thank you for taking the time to speak with me. We value your feedback and I’d like to share more information. We appreciate your service to this country. We take your concerns seriously and would like to help you with this. Please know that the actions taken on your account are in effort to protect your identity. In your complaint, you let us know that when you contacted us, your call was transferred to our Fraud Department. When we restrict an account, we try to reach the customer for verification. If we can’t reach the customer, we restrict the account until we know everything is okay. This means that each time you call in during the restriction period, your calls are forwarded to our Fraud Department. You also let us know that when you called us it was to obtain the status of the new credit card as it had been 10 days and you had not yet received it. You also mentioned that you had provided us with your personal identification information. Allow me to explain further. On January 28, 2015, February 3, 2015, and February 12, 2015, our Fraud Department attempted to contact you at [redacted], there was no answer. A letter was each time requesting you to call us back for verification. For your review, I have enclosed the letters from our Fraud Department dated January 28, 2015, through February 12, 2015. On February 21, 2015, our records show that you contacted us to inform us that you did not receive credit card, as mentioned above. Our records further show that when our Fraud Department attempted to verify your identity, you did not pass our verification questions and requested to have the account closed. On March 11, 2015, we closed the account, as requested. Our Fraud Department confirmed the restriction on the account will remain until you are able to provide the acceptable verification documentation. If you would like the account to be reopened please send the following documents within 10 days of receipt of this letter: ? Front and back copy of your driver's license or state-issued ID (they may substitute a passport or military or government ID) ? Copy of your Social Security card ? Copy of a utility bill issued within the past 60 days that includes your current address as well as the utility company's name and phone number (A W2 from the current or previous year may be substituted or a copy of a bank statement or telephone bill (not cell phone) from the last 30 days Documents can be sent by fax number to [redacted], or by mail, to: [redacted]

Please remember if you are sending is to us by fax or mail, to: ? Include a copy of the entire utility bill. ? Do not delete account number information on any documents. ? On each item being faxed, please write your account number and the best contact number where you can be reached during the day and evening With regard to your military status as mentioned in your complaint, our Servicemembers Civil Relief Act (SCRA) team has confirmed that your information was not found for active duty status, in the [redacted] (DMDC). However, if you have documentation relating to your military duty, please send us one or more of the following documents and we will consider your request for benefits: ? Military orders that include an active duty start date and military branch ? A letter on military letterhead from an executive or commanding officer that includes an active duty start date and military branch ? Any other relevant military documentation If you have questions or concerns, please give me a call at [redacted] Monday through Friday from 8:30 a.m. to 5 p.m. I’m glad to help in any way I can. Sincerely,

[redacted], on behalf of Capital One

Review: I have had a Credit Card with Capitol One for some time. They charge me $5.00 membership fee with I have been paying and adding Payment Protection to this. I have called them, e-mailed them and chatted online with customer rep to have this removed to no avail. I presently have been charged a total of $95.22. I am asking this to be refunded to the card as I do NOT want this service and have informed Capitol One numerous times. My card ends in [redacted].Desired Settlement: $95.22 back to my card for Payment Protection which I have told this business numerous times, I do not desire this service.

Business

Response:

Dear [redacted],

I am responding to a complaint you filed with the Revdex.com (Revdex.com) about the Monthly Membership Fee and Payment Protection fees being billed to your account. I appreciate the opportunity to review your account and respond to your concerns. Per your request, Payment Protection was cancelled on October 6, 2014. From your complaint, I understand that you requested to have the service canceled; however, we do not have a record of this request. Nonetheless, we made the business decision to apply credits, equal to the total amount of Payment Protection fees billed to your account. A credit in the amount of

$413.20 will appear on your October 2014 statement. Our records show that your account was enrolled in Payment Protection on May 4, 2004, via

Customer Service Marketing. Payment Protection is a debt cancellation product that will make benefit payments to a customer’s account in the event of an eligible loss (such as involuntary unemployment or temporary disability).

Finally, while the Monthly Membership Fee billed to your account was disclosed in the terms of your account, we made the business decision to remove the fee from your account. This change will also reflect on your October 2014 statement. If you have additional questions or concerns, please give me a call at [redacted], Monday through Friday from 8 a.m. to 4 p.m. ET. I’m glad to help any way I can.

Sincerely,

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's offer. If you wish, you may update it before sending it.]

I have reviewed the offer made by the business in reference to complaint ID[redacted], and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved. If the company does not perform as promised I can get back to you at: [redacted]

Regards,

Review: I had debts dischaeged in bankrupcy in 2004.

I have had no credit cards since that date.

They keepsending me letters . 6 mnths now.

I do not owe anyone any money. Capitol one was in my bankrupcy. Six months ago they started sending me letters saying I owed money. I do not.

I am in the process of getting my transcripts.

I lost alot of peperwork in a flood.

The acct # they gave me is [redacted] I have no record of the capitol one acct.

They want personal information. I have not given it

I think they should check the records and my credit report before the threaten me with courtDesired Settlement: Stop bothering My wife and I with an illegal debt

Business

Response:

Dear [redacted],

I'm reaching out to you about your complaint to the Revdex.com of Greater Hampton Roads about communications you received regarding the account listed above. Please know this communication is not an attempt to collect a debt, but is merely a response to your complaint. Thank you for giving us the opportunity to address your concerns. We hope this information is helpful.

According to our records, the account listed above was opened on August 19, 2004. It charged off on April 6, 2005. Our records show we did not receive notice when you filed bankruptcy on May 3, 2005. As a result, we filed a collection action. A default judgment was entered on July 27, 2006.

We apologize for an inconvenience you have experienced. [redacted], [redacted], the law firm we hired to collect on our behalf, filed a motion to set aside the July 27, 2006, default judgment September 8, 2014. We have confirmed we are no longer reporting information about your account to the Consumer Reporting Agencies, like Equifax and Experian. We have also confirmed that [redacted],[redacted] has not asked you to provide personal information. Should you wish to discuss the status of the motion to set aside the default judgment with [redacted],[redacted], they can be contacted at [redacted].

If you have additional questions or concerns, please give me a call at [redacted], Monday through Friday from 6:45am to 3:15pm PT. I'm glad to help anyway I can.

Sincerely,

[redacted], on behalf of Capital One

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's offer. If you wish, you may update it before sending it.]

I have reviewed the offer made by the business in reference to complaint ID[redacted], and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved. If the company does not perform as promised I can get back to you at: [redacted].

Regards,

My mother opened an account with my assistance. Capital One never disclosed any annual fee. We received the bill and saw annual fee which the rep voiced he could not remove and if we would like him to close account. I replied if hard credit inquiry was going to be removed due to fee not being disclosed? He was rude and said, I believe I answered that question already. I replied no and asked to speak to a supervisor. He passed me through to a supervisor named Renika, very rude rep #VX-R822. She began to read the cancellation agreement... I voiced the previous rep had already read and I would respectfully decline she voiced it didn't matter and she needed to read it. She proceeded to read, soon as I told her I was recording she was like, I didn't consent to being recorded. I replied I didn't consent to having disclosure read. She began attempting to shout over me and hung up. Terrible place! I will follow up to see if their cooperate office does anything about this in the AM. Never had this issue with [redacted] nor [redacted]!!

Review: I recently opened an online savings account with Capital One 360. I transferred $100,000 from my [redacted] account initially, on 2/12/15, and an additional $90,000 shortly thereafter. Today I decided to close the account, because I found a better rate elsewhere. But the Capital One representative I spoke to said that I would not have access to my own money until 10 business days from the date of my initial transfer, i.e. I cannot get my own money, which they received on 2/12, until 2/27! When I asked why, he said it was because of the time required to verify an ACH (automated clearing house) transfer. This is nonsense. [redacted], which runs a similar online savings account, makes funds available under similar circumstances within 2-3 days at most, usually the next day. They are obviously profiting by tying up the funds of their depositors for these long waiting periods and it should not be allowed.Desired Settlement: I want a response from Capital One, and I also would like this practice reported to the appropriate banking regulatory authorities.

Business

Response:

Dear Mr. [redacted]: We are writing in response to the complaints that were forwarded to us from the Consumer Finance Protection Bureau (CFPB) and the Revdex.com (Revdex.com) about your Capital One 360 account ending in [redacted]. We understand you don’t agree with our Funds Availability Policy when a new account is opened. As explained in our email to you on March 2, 2015, we reviewed your account and confirmed that on February 11, 2015, you requested to open a 360 Savings account. We confirmed that during your web session on the “Before You Start” section on the “Open 360 Savings” page, it was advised that the initial deposit would be on hold for 10 business days. Additionally, the web session from February 14, 2015 confirms that a request was submitted to transfer $90,000 from your [redacted] bank account ending in 5300 into your Capital One 360 Savings account ending in 8567. We confirmed that the “Transfer Money Confirmation” page advises the length of time funds are held when a transfer is requested. The funds for your transfer were held until February 27, 2015. We take security very seriously, especially when we don’t get to meet our customers face-to- face as with the 360 direct bank accounts. In order to ensure that information provided to us during the application process can be verified, we advise that the initial deposit be placed on a 10 business day hold whenever opening a Capital One 360 Savings account. After that timeframe, additional deposits are on hold for 5 business days. These holds are also partly because a linked external checking account has 5 business days to verify that funds are available. Please know that the hold times for Capital One 360 Savings account are outlined in the Terms and Conditions for the account. To view the Terms and Conditions, please visit https://home.capitalone360.com/terms_360savings. We hope this letter explains the situation, but if you have additional questions or concerns, please reach out to us at 888-464-0727 or at [email protected]. Associates are available Sunday through Saturday from 8am until 8pm EST. Sincerely, [redacted], on behalf of Capital One

Consumer

Response:

I have reviewed the offer made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

Their letter offers no legitimate explanation for their routine policy of holding the deposits of new customers hostage for 10 business days (and 5 business days for established customers). These are inordinate delays, and impossible to justify as all the necessary verifications happen electronically within seconds, and certainly within a day or two. Just for comparison, [redacted], which offers very similar on-line banking, makes deposits available within 2-3 days maximum, and usually within 1 day according to their representative. Capital One claims that one of the reasons for their delay is that they "take security very seriously". But during the more than two calendar weeks that elapsed from when they received my deposit until they actually allowed me to withdraw it again, they requested no additional information from me to verify my identity, and their claim, therefore, that these two weeks were needed for security purposes is ludicrous. Compare this with credit card companies which issue cards (i.e. essentially lend money) to new customers instantly based on an online application, and you can see that it is absurd that Capital One is claiming that there would have been some security risk involved in giving me my own money back!

Regards,

Review: I have payed capitol one bank no less than $200 per month since I believe 03/13 and it seems that my balance has stayed the same since I have been payining this amount. I cant find the information I need because the website does not seem to give me the balance from 03/13. I know that I have made some purchases but I have also returned most of the new purchases for maximum credit returned to this card. Everytime I have received my balance it does not change and to my recollection and I could be wrong but I belive I have paid at least $1000 in total payments since. the last purchase was a $269+ product from jegs racing. I sent that part back and bought a part for 29+. I called to find out what is going on and was told I had to write capital one for this information I think this is not right because I need to know in real tome whats going on with this account.Desired Settlement: What is going on with my account balance and why do I have to correspond by mail instead of email or by phone to a representative that actually know what is going on. I believe your balance of my charges are at an error. I belive you information to be incorrect.

Business

Response:

We educated the customer on policy of fees and finance charges.

Capital One was informed on Tuesday that an improper charge was filed, 100 times more than actual bill: $21,000 versus $210. Vendor confirmed it was $210 on phone with Capital One and my engineering business. Despite reported fraud, capital One paid the entire fraudulent amount on Friday, wiping out my remaining credit, resulting in rejection of valid charges. After 5 hours on phone attempting to resolve, I was informed it was MY problem to recover my $20,790. Of course vendor, a [redacted], is not returning anyone's calls. I'll be taking my business elsewhere and suggest you do as well.

Review: I just checked my credit report again & again was dishearten. we are trying to buy a home & when they checked my credit they denied me because of this inaccurate account with Capital One. I paind this account already after I was promised removal in return for payment. Later I called Capital One & inquired why this account was still on my report & I was told "[redacted], we cannot remove the account because that would be illegal". I explained to the I was promised that in return for payment & was told "either they lied or you are lying".This account is actually preventing us from buying a new home that we can afford & thus preventing us from putting food on the table or a roof over my families head. This account is completely inaccurate & those inaccuracies should not be showing on my credit report. I disputed this account on my credit report with [redacted], [redacted] & [redacted] approximately 45 & 90 days ago as well and yet they still remain. This inaccurate negative reporting has resulted in repeated denials of credit, loss of oppurtunity to receive credit, economic loss, damage to my reputation, loss of self esteem, invasion of privacy, interference with family life & emotional distress.Desired Settlement: DesiredSettlementID: Other (requires explanation)

Capital One [redacted]- second request- this account is showing late & was a billing error. The account was never paid late & your bureau is allowing false information to remain on my credit report. REMOVE LATE PAYMENT IMMEDIATELY.

Business

Response:

Dear [redacted],

We were recently notified by the Revdex.com of

your concerns about information we’ve reported to the customer reporting

agencies. We value your feedback, and we’re glad to share more information

about this.

We understand you would like us to modify the information we

reported about your account. Our records show that your account was reported

past due for the May 2012 and June 2012 billing periods as the required minimum

payments had not been received. We’ve confirmed that we’re reporting accurate

information, and our records do not reflect assurances were provided that

negative information reported would be removed in return for payment on your

account.

A review of your account shows that we received correspondence

from you, dated October 11, 2013, and a response was issued on October 17,

2013. In case it’s helpful, I’ve enclosed copies of these items for your

records. Based upon the difficulties that you have expressed, we have made a

business decision to update the payment history for May 2012 and June 2012. As a

result of that action we are also notifying the consumer reporting agencies

update your credit profile accordingly. Please allow 60-90 days for consumer reporting

agencies to update their files.

If you have additional questions, feel free to call me Monday

through Friday at [redacted], 8 am to 4:15pm ET. I’m glad to help any way I can.

Sincerely,

Review: I would like to know why this credit card company will NOT lower our APR especially since we have been paying above and beyond and early as well. It gets frustrating when you are trying to pay a bill down and try and develop a relationship. There have also been a few times when a bill was paid over the phone and the Rep took down or transposed the acct #, therefore causing the acct to be late. No one never called and apologized for the mistake but still tried to charge us a late fee and was calling us like we were purposely delinquent. After the first time it happened I asked them to make sure and call if there is a problem with the acct.,but I had to call and find out what happened on my own. This happened more than a couple of times. We would like to get our APR lowered to help us pay down the balance even more but they wont work with us. They said to get credit counseling with an outside party. What happened to valued customers, I understand there are fraudulent individuals but I feel us that arent pay the price. A very disappointed customer.Desired Settlement: DesiredSettlementID: Other (requires explanation)

We would like our acct's APR lowered

Business

Response:

[redacted] Annual percentage rate(APR) has been lowered from 22.90 % to [redacted] % effective immediately. He thanked me for calling.

Review: We made some charges that were flagged as a fraud alert and denied. We called up to resolve the issue and both my wife and I provided all the information requested, and the customer service representative confirmed our issue was resolved and we could use the card to place the purchases again. We were then notified soon after that our account was terminated. When we called to inquire as to what happened, I provided my card number, date of birth, and last four digits of my social security number, and then I was abruptly told, "no one at Capital One can help you." When I inquired regarding whether my recent purchases went through, the same statement was repeated. When I asked who cancelled my account, the same statement was repeated. When I asked when my check for the rewards dollars owed me would arrive, I was told they were "forfeited." I have been a loyal customer to Capital One for several years - never made a late payment. I don't understand what happened. Product_Or_Service: Capital One Credit Card, [redacted] Signatur Account_Number: [redacted], ExDesired Settlement: DesiredSettlementID: Refund We would like our $144 of rewards dollars refunded.

Business

Response:

Our customer’s main concern was the status of his credit card account. The account was closed as fraudulent and all rewards were restricted. On Thursday, February 27, 2014 we spoke to our customer over the phone. After extensive verification, we were able to resolve this issue by reopening this account, remove the restriction on his rewards points, and providing our customer with a courtesy credit. We informed the customer that he would receive a new card in the mail. Once his card is received and activated his rewards restriction will be lifted. We advised our customer of the decisions made and actions taken. Our customer was satisfied with this resolution.

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's offer. If you wish, you may update it before sending it.]

I have reviewed the offer made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. The business has performed this action and I consider this complaint resolved. (If the company does not perform as promised I can get back to you at: [email protected].)

I recommend the 5 letter bank that starts with a C over this corporation anyday and everyday. I was a former HSBC customer and my account became property of Cap1 unfortunately. I have been a card holder for over 10 years and have 2 cards from what is now C1. When I am done paying off my balances, my accounts will be closed out. I was recently approved for a 2000.00 CLI from another lender and when requested the same from Cap1 I was denied. The approval from the bank beginning with a C, was given after Cap1 denied me. (Too many recent inquiries, and some other excuse I dont remember) Ummm probably because of your insulting credit limit and the fact I never received a CLI in over 10 years, that I did some shopping around? Thank you though, or I would have never been a new member of the [redacted] card family!! BEING A LOYAL CUSTOMER FOR 10+ years is not enough proven loyalty to be approved for an increase then I'm sorry Cap1, you are an awful, careless, selfish, greedy lender. Did I mention I had to get ahold of the corporate office just to have my annual fees removed after all this time? Oh and the person that assisted me upgraded my outdated cards to the Quicksilver cards, as if she did me a favor. Only to read that most accounts that came from HSBC were upgraded already! I have a 500.00 balance on one card and 300.00 balance on the other. I was not the "ask for a CLI type of person" until I realized one day, the intention in having the cards was so that they would grow with me. LADIES AND GENTS, I grew, got older wiser. MOVED up in life, however my Cap1 cards werent there with me for the ride.

I paid off my cards numerous times before and the only difference this time around is that they will be destroyed and I am looking forward to the day they are just a horrible memory that uncontrollably crosses my mind every now and then, or when I am mentioning to someone why they should stay away. I get better rewards anyway with my [redacted] card and my [redacted] Southwest anyway! SILLY ME FOR KEEPING SOMETHING AROUND THAT DOESN'T WANT ME.... :( Maybe it was the horrible customer service I couldnt get enough of. Or the low credit limits and high APR's, topped off with the double annual fees.. Oh shucks, almost forgot to mention that they are reporting my high balance on my CR's and have no proof of me ever having that high balance, and refuse to adjust it. NOT EVEN SURE IF THAT IS LEGAL..