Consumer complaint received 2022-02-17
Company: CAPITAL ONE FINANCIAL CORPORATION
State: NY
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
Re : account ending in XXXX account ending in XXXX Capital One committed fraud, excessive charges and fees, failure to return merchant credit, failure to investigate, inaccurate malicious intentional damage to credit history. 

Ive been trying to avoid court and resolve this amicably however capital one refused on 13 separate occasions. 

I found out while attempting to continue utilizing this card in 2020, however Capital one closed the accounts unbeknownst to me. Albeit, until that time every single solitary payment was timely. I called capital one and was told the payments I made bounced and because of this, the card was closed. This was not intentional or known until that point speaking to them and I found out about entering accidentally incorrect account number by one digit, and it did not go through several times. I explained to another representative this and was told nothing further to be done and they were closed. I awaited my security deposit back, knowing there was {$500.00} I gave them months ago for the secured card for account number ending in XXXX, I also received a merchant credit. Capital one never returned these funds. I was calling and sending in many letters to resolve this and find out where my security deposit was, and why this merchant credit was never issued back to me. Nobody investigated, they stated they would note and look into it further. I did not give up because I signed with Capital one to improve my credit not to destroy it and my life. I did not want to be taken advantage of and let them know they need to return my funds, and that I do not owe them anything. This is genuinely what I thought to be true and I just. Four months later I received a several page letter from Capital One explaining what happened. It was throughly investigated and they informed me the merchant credit was applied to funds I owed on the card and there was no longer any security deposit due to funds utilized. I am still unclear as to what really occurred. I do know if I was notified of what was done with the merchant credit of {$800.00}, I would not be in this mess. Nobody called me, no notation on any bill regarding these funds being applied. After I read this investigational letter and having further clarity, I immediately paid the accounts. 
However Capital One was not done with me and they reported late payments to all the credit bureaus. They should not have done this and it was not under their authority since I filed a dispute on the phone with the representatives about the merchant credit not being applied. Payment was made late due to capital one not having answers for me and taking four months to investigate. After they finally looked into this, I paid immediately yet Capital one reports to credit bureaus inaccurately that I was late as if I did not have the money or was negligent and reckless with payments. This is simply untrue and what they have done is literally costing my life as my credit decreased XXXX points with the derogatory information capital one is reporting. I have 18 documents and one entire page filled with representatives I spoke to attempting to resolve this, even before it went this far, and this was not looked into until four months later. 

I am requesting a deletion of this inaccurate derogatory reporting. The payments were not paid because I filed a dispute believing I was owed my security deposit back and the merchant credit. I should not be punished for this investigation not being resolved until four months later. 

These payments would never have been late if I capital one informed me how a credit was applied and why my security deposit was not going to be given back to me. Capital one has accountability here as while the dispute was in process, no late payments should have been reported. The amounts I was disputing was for my merchant credit and security deposit. You had an obligation to investigate and you did, albeit four months later while reporting inaccurate, misleading derogatory information. 


Please delete the tradelines ending in XXXX and XXXX.

Company response to consumer: Closed with explanation