Consumer complaint received 2021-08-21
Company: CAPITAL ONE FINANCIAL CORPORATION
State: WI
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
On XX/XX/, I requested a small increase of available credit, by Capital One, for my existing credit card I have with them and have had with them for +/-6 years. I checked the status of this request on my Capital One app., which provided me a copy of the letter that is currently being mailed to me, stating I have been declined and the reasons why. It states that the credit report, they received from one of your credit report agencies, that I do not make a large enough monthly payment on this account. This is inaccurate and need this investigated and reviewed for errors. My minimum payment on this one, of only 2 credit cards I have, is an average of {$60.00} - {$64.00} every month. Not only do I have my monthly payments set up on auto-pay, coming directly out of my checking account each month, on time and never late, I have the amount of {$120.00} paid every month to Capital One. I am paying double what the minimum amount required is each and every month and have been for nearly 2 years out of the 6+ years I have had this credit card. The only other monthly debit I have, is a XXXX credit card, that I also have set up on auto-pay, monthly and on time for the past 11 1/2 years, have never missed a payment on that card and I have also been paying more than the minimum amount owed each month on that credit card also. I have been working very hard, the past 2 years, on taking steps, to raise my credit score. I have no other bills for the last 10 years other than these 2 credit cards and my current credit score with XXXX and XXXX is XXXX and XXXX is always within 1-2 points of these other two. In the 2 years I have been working very hard to raise my credit score, I have been able to increase it from the low XXXX up to XXXX as it sits today. I follow the helpful tips from XXXX XXXX and yesterday tried one of their most successful suggested advice on helping raise your score and that is to request a credit increase with one or more of your existing accounts to show you have more available credit. They personally suggested this to me as their customer because they report to me that my payment history is outstanding, especially with the XXXX card I have had for 11 1/2 years without one missed payment and making payments more then the minimum amount and also with the Capital One credit card of having 6+/- years, also making monthly payments double the amount of the minimum amount due. The reason given for being declined a credit increase, is inaccurate and has stopped me from diligently working to increase my credit score. Please review the data you provided to Capital One that gave them reason to decline my request for a credit increase and report back to them and to me personally how such information could have been given, why and what has been done to correct this inaccurate data being provided about me, my timely payments, my long credit history with both credit companies, and the statement that specifically says, I am not making enough of a monthly payment towards my current debits? 

Thank you for helping me correct this information and for getting back to me at the earliest possible time. 

XXXX XXXX

Company response to consumer: Closed with explanation