Consumer complaint received 2021-03-01
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I have XXXXwo issues with Capital One Bank. Both of which I have tried to call and resolve with them numerous times, and to no avail.

1.

The first is simple - many of my " hard inquiries '' over the past 2 years is from Captial One. There should have only been ONE Capital One authorized pull on my credit during that time period. 

That would have been for XXXX  XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX XXXX  XX/XX/XXXX XX/XX/XXXX XXXX  XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX The only accurate authorized credit check was on XX/XX/XXXX when I applied for a credit card. I would ask that all other Capital One Hard Inquiries be removed from all 3 credit files.

2.

Secondly, and more complex is the status of my 3 capital one credit cards. I applied for these cards in XXXX and XXXX. I had the Capital One Spark, Venture and a Business one. I had a perfect payment history on all 3 until I moved from XXXX  to XXXX, and ended up in a situation where I was without work for 3 months. I called Capital One and they offered me a special program where all 3 accounts would be reduced to 7.4 % interest, as long as I made the minimal payments on time.

I was TOLD that this was a program for and by Capital One and as such, they would either remove the 3 months of negative payments or mark them as deferred. Regardless, my agreement to be in the program was to have those late payments removed, so that I could have a 6 year history credit - of accounts in good standing and being paid on time. 

Today, all 3 accounts show a perfect payment schedule since I began the program, but they still show negative payment history for this specific time period. I chose to do this, instead of closing the accounts and not paying them, or consolidating the 3 accounts into a new loan. I am a loyal and long-standing Capital One customer who still has a checking account with them, and has paid down what was approximately XXXX  in debt 18 months ago to today where I owe approximately XXXX.

Having done this with Capital One, has not been to my advantage, in fact it has put me at a total disadvantage. I am told it is not counted as a long term account so I lose the 5 years of payments, and I am dinged for having so many late payments on 3 accounts during that 90 day period. The account is closed - so each credit reporting bureau reports differently. Some report it as having a 12 month payment history, some have nothing but a negative history and account closed, one has the entire 5 years including all the negative payment months.

I have spoken to people at each of the 3 credit bureaus. They say there is nothing they can do. I have spoken with Capital One several times and they say that there is nothing they can do, yet they control what data is being shared. I explained to them that I ONLY entered their program because the months where I was late paying would be eliminated as either NA or deferred - but NEVER as delinquent which is what they have continued to be this entire time.

Company response to consumer: Closed with explanation