Consumer complaint received 2023-01-16
Company: CAPITAL ONE FINANCIAL CORPORATION
State: IL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Confusing or misleading advertising about the credit card

Complaint:
Early XX/XX/2023 I received an unsolicited application from Capitol One in the mail to apply for their XXXX XXXX XXXX at a lower rare and a lower interest rate and cash back bonus. I applied online on XX/XX/2023. After a soft credit check, I was told that I was not eligible for the advertisement that was mailed to me, but instead they offered me the same card at a much higher interest rate and no cash bonus. I decided to proceed and I applied, being accepted and told the card was on the way. This notice was sent via email. 

I got an email from XXXX of the credit agencies noting that there was a hard credit check, and a corresponding lowering of my score due to the check. 

I noted that when I later logged into the online account that I had set up in order to access card features, a fraud alert had been placed on my card. I was not sure what that meant, since I had not received the card. There was no other information, and figured I would clear that up when I received the card. 

I got a voicemail on XX/XX/XXXX from an unknown number from a person telling me that I had to call them regarding a fraud alert placed on my card. I returned the call on XX/XX/XXXX, using the number in the call. I verified myself, and was told I had to submit a state ID and a social security card through some online process to active my card. I told the representative I had not yet received my card. And I offered to go into a bank branch to do this, now being suspicious of any online contact with them. 

I waited for the card to arrive, which it did on XX/XX/XXXX. I called to activate it on XX/XX/XXXX. I was then told I need to wait for an email and it would also ask for proof of residency in addition to the other documents. I offered to go into a branch. I also refused to offer a Social Security XXXX, as I have never heard of doing this for a credit card. They had it, as my credit alerts had proven. 

I don't just want to drop the process, as they have now opened an account for me and reported it to credit agencies. This would further damage my rating, because it would now contain a closed account I never used. 

I am accusing Capitol One of deceptive advertising practices in that they applied bait and switch in enticing me with one product but only a higher product was available. Also, they have the potential to damage my credit report in never intending to realistically offer me a credit card, but now have information on me that they will feel free to use in their marketing efforts. Lastly in having that information, if their systems are hacked, I will be further victimized in that it may be stolen, and the types of information they are asking for, if I submit them, will expose me to identity theft where I have provided more information that I believe is normally asked for for a credit application. 

Thank you.

Company response to consumer: Closed with non-monetary relief