Consumer complaint received 2021-08-05
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
I booked a group vacation with XXXX based, XXXX XXXX XXXX XXXX on XXXX XX/XX/XXXX. I was scheduled to travel to XXXX with them on XX/XX/XXXX *all dates are in XXXX format to match with my receipts and emails sent by XXXX XXXX. 


XXXX  : Capital One Bank ( Usa ) , National Association Payment made : XXXX XXXX on XXXX XX/XX/XXXX - card ending XXXX ( Visa ) Payment made : XXXX XXXX on XXXX XX/XX/XXXX - card ending XXXX ( Mastercard ) XXXX XXXX postponed my trip on XX/XX/XXXX, due to Covid travel restrictions. As you can see from the email, the company offered me a refund credit note. The email clearly states If you havent booked onto an adventure in 12 months time then we can process a full refund of all monies paid. 


*Please see the email sent by XXXX XXXX on XX/XX/XXXX XXXX XXXX went into administration and became bankrupt on XX/XX/XXXX. It was at this stage I became aware that I would not receive the services that I paid for. 


*Please see the attached email sent to me by the insolvency practitioner, XXXX on XX/XX/XXXX, informing me of the administration. 


I attempted to open up a chargeback dispute on XX/XX/XXXX using the Chargeback code XXXX for credit Merchandise services not received. 


Initially, my bank opened up the dispute for the XXXX XXXX amount but later refused to accept it. They refused to open up the XXXX  XXXX deposit amount. 


*please see attached for the rejection letters from Capital One I am informed by my bank that the reason for this is is because I received a travel credit from XXXX and then the company went out of business, so its not their problem My bank is incorrect. Under the Fair Credit Billing Act it is my right to claim a refund when the service I paid for is not received due to a company 's bankruptcy. 


I am also informed by the administrators XXXX that XXXX XXXX merchant acquirer XXXX challenged my dispute with the bank on the basis that I may have been told that I was protected by XXXX XXXX financial failure insurance on their XXXX XXXX XXXX which is incorrect. 


I am informed that the financial failure insurance was always in place for XXXX/ XXXX customers but from XX/XX/XXXX XXXX XXXX were able to insure every customer globally and they changed the XXXX XXXX XXXX to reflect this on XX/XX/XXXX. 


As I booked before this time, I am not insured or protected by any other method. 


When the challenge was flagged by my bank, they should have given me an opportunity to show them evidence that clearly shows that I am not insured. 


I would have been able to submit the XXXX XXXX XXXX relevant to my booking which clearly shows that the financial failure insurance was for XXXX customers only. 


I would have also submitted a flowchart provided by the insolvency practitioners, XXXX which was sent to all XXXX XXXX customers. XXXX informed me that this flowchart was agreed and approved by XXXX themselves. 


*Please see the red box in the bottom-left corner clearly showing that the insurance is for XXXX customers only. 


*Please see the attached XXXX XXXX XXXXs that are relevant to my booking *Please see the flowchart provided by XXXX For your reference : The time limit for making a claim should start from the date you were expecting to receive the service/trip not from the purchase date, given you are buying something to be delivered in the future. In my case this should be the expiry date of my refund credit note which is XX/XX/XXXX. 


Alternatively, they may use the date I found out that I would not receive the trip ( XXXX XX/XX/XXXX ). 
Here are Mastercards rules : On chargebacks there is normally a 120 day limit, but this can be extended to 540 days if the services were to be provided at a future date. So, for example, a vacation. 
I have been informed by the insolvency practitioners XXXX that all credit card paying customers should go to their banks for a refund. The XXXX Government-backed XXXX XXXX XXXX are advising me to do the same via this letter http : XXXX

Company response to consumer: Closed with monetary relief