Consumer complaint received 2023-01-20
Company: CAPITAL ONE FINANCIAL CORPORATION
State: DC
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: Card was charged for something you did not purchase with the card

Complaint:
On XX/XX/23 at XXXX AM EST, I received a notification from Capital One indicating that my Platinum credit card was over its {$20000.00} limit due to a charge for {$20000.00} to the merchant XXXX XXXX dba Hawk Marketplace Giftcard. I immediately called Capital One to notify them that the transaction was unauthorized and fraudulent. Capital One indicated that my card would be cancelled and a new card would be sent to me and that I would be temporarily credited in the amount of the disputed charge while the fraud investigation took place. Despite the unusual amount and timing of the charge, Capital One approved the charge without requesting any secondary authorization from me, as was their typical practice when unusual transactions were attempted. After speaking with Capital One, a second charge for {$20000.00} to XXXX XXXX was attempted and apparently posted to my account. On XX/XX/23 I received a letter ( see attached ) from Capital One indicating, inter alia, that for disputed charges made less than 180 days ago, my account would be credited for the unauthorized charges while the investigation was conducted. Despite this, my account had not been credited. On XX/XX/23 I called Capital One to request information regarding when my account would be credited so that I could use my card during the investigation. I was informed by a Capital One XXXX that I could expect the account to be credited within 72 hours or by XX/XX/23. After the call my account changed to show a " purchase adjustment '' for {$20000.00} credit back to my account, yet my available credit remained at {$0.00}. On XX/XX/23 I called Capital One to ask again when I could expect my credit to become available to me again. The manager I spoke to, XXXX, indicated that I would not be given any available credit while the fraud investigation was ongoing, which could take up to 90 days. I expressed to XXXX my reliance on the credit card to transact my daily life, including paying bills and purchasing prescriptions. Additionally, I noted that the Capital One website indicates that " A temporary credit will typically be granted within XXXX business days so that you have use of the funds while the investigation is ongoing. '' https : //www.capitalone.com/help-center/fraud-disputes/get-refund-for-claim/ I also indicated that the Capital One manager that I had spoke to on XX/XX/23 had represented the same to me and that I would have use of the temporary credit by XX/XX/23, and that I had relied on those representations by Capital One. Nevertheless, XXXX indicated that I would not be given available credit and would have to wait until resolution of the fraud investigation. Credit card issuers such as Capital One should be open and transparent with their consumers and the disparity between the Capital One website, verbal representations made to me, and Capital One policy is unacceptable.

Company response to consumer: Closed with explanation