Consumer complaint received 2023-03-23
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Charged too much interest

Complaint:
I signed up with CapitalOne with great hope but as a new credit card customer it was an unmitigated disaster after several calls speaking to different people about this issue, including 2 supervisors who were XXXX and XXXX. In particular, XXXX was very rude and abrasive on the phone and even hung up on me, but that's an ancillary point to the main issue here so let 's leave it aside for now. 

Essentially, this was my first payment cycle with CapitalOne and so I had set up their AutoPay on my account to ensure I would settle all my credit card bills in a timely manner- I selected the option to pay in full ALL my outstanding credit card deals a few days before the settlement date. All seemed fine when the full amount of {$380.00} was posted from my direct debit arrangement into CapitaloOne to settle my credit card bills with them, and this showed up in my transaction history with CapitalOne too on XX/XX/XXXX ( please see picture ). 

Suddenly, on XX/XX/XXXX this entire amount was returned to me which caused my CapitalOne credit card account to be in deficit, but nobody gave me any notice at all that payment had been RETURNED- I did not get any SMS, any emails, any phone calls or alerts or notifications on my apps or whatever. Nothing at all. I've since learnt that this was because I had keyed in the wrong account details for the Autopay arrangement I've set up with CapitalOne to draw money from my other bank, but I have no way to verify that for sure since the Autopay details mask my account numbers when I log on, so I have no way to see the account numbers actually inputted for my Autopay arrangement. 

In any case, the point remains that I had ZERO heads up that my AutoPay payment to CapitalOne had failed. When I found out about this problem on XX/XX/XXXX, I immediately resolved this by manually making payment to them for {$380.00} and called their customer service line to explain the situation. I forgot the officer 's name but I specifically mentioned that this was an honest mistake, and my request to have BOTH the late fees and the interest charges waived, to which he agreed he would apply for both these waivers. A few days later, I noticed that my account had the late fee waived but not the interest charges, and so I called again to explain my entire situation as laid out above, and that the customer service agent I spoke to on XX/XX/XXXX had promised to get both these fee items waived but now I was slapped with interest charges of {$12.00} that have not been waived, and I don't know how much more they are going to rack this up with additional interest charges until I agree to pay it off in full, which is so stressful and traumatic in today 's environment of all the economic uncertainty and bank destabilization. 

I have spent hours on the phone with them trying to resolve this situation and even appealed multiple times about this being my first payment process with CapitalOne and it was an honest mistake with the Autopay " error '', but various people at CapitalOne have just constantly flat out refused my request to waive the remaining interest charges, with no reason provided at all and just insisting that this is their right and their policy does not allow them to reveal the reasons- the cruelty and lack of ethics is just appalling to be honest. And this is despite XXXX acknowledging that one of their customer service agents lied to me on XX/XX/XXXX when he said that he would be able to apply wavers for both my late fees and interest charges!! It is deceptive marketing and unprofessional dealing with customers, and I am really regretting that decision to sign up for a new CapitalOne card now. No other XXXX  banks I've transacted with had such dishonest practices, broken systems and poor customer service. Please investigate my complaint to the fullest extent and do let me know if I can provide any other information, I remain humbly at your disposal. 

All my rights are reserved and this write-up is on a without prejudice basis. 

Thanks, XXXX

Company response to consumer: Closed with monetary relief