Consumer complaint received 2023-01-21
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MI
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
Back in XXXX or XX/XX/XXXX, Capital One decided to close both of my credit card accounts with them for no exact reason which is a direct violation of the Equal Credit Opportunity Act as they are supposed to provide clear and specific reasons why they would take adverse action against the original creditor aka the consumer that extended their credit unto them. The alleged reason as to why my account was closed was never provided in writing, but over several phone calls with Capital One XXXX 's they informed me that the main reason why both of my accounts of almost 7 years ( XXXXXXXX XXXX XXXX XXXX XXXX ) was closed due to returned payments. I went on to explain that the issue with the returned payments was with my XXXX XXXX XXXX account charging unnecessary bank fees which caused my account to go into the negative unbeknownst to me at the time of payment, in which I actually proved that through a XXXX hour phone call with Cap One getting on the phone with a XXXX XXXX XXXX XXXX reviewing over my account charges on the day of payment to confirm this, yet they still refused to reopen my account. Previously to my accounts being closed, I have always had nearly perfect payment history throughout the whole entire time with Capital One without any issues whatsoever. I see on social media that Capital One has an uptrend in closing out consumers credit card accounts without any prior notice, warnings, or reasoning behind them. They claim that the returned payments are a default and reason to close down a credit card account within the cardmember agreement. I took the time out to review their XXXX and found SEVERAL violations to Title 15, Title 18, Fraud, and many other violations in regards to consumer 's privacy. Any evidence of fraud within a contract or any kind of agreement automatically makes that agreement NULL AND VOID. After Capital One closed my accounts, I remember this as if it was yesterday. I check my gmail updates and I see a notification from XXXX XXXX informing me that both of my accounts had been completely closed. When I go to check my score it dropped over XXXX points because of this and I XXXX near broke down in tears because I couldn't believe my eyes. I was so confused as to how this even came about because even though I got the notification that the payment had been returned, I still made the payment the day of I got word of the returned payment. Again, they claim that this was XXXX of the main reasons why they closed down my credit cards due to me having XXXX in a short period of time ; but I don't believe that is a reason to close down a person 's credit card account ESPECIALLY after almost XXXX years of having an amazing business relationship with them and always paying on time. This decision was overkill because not only did they close down my account and refused to reopen it after proving that it was a bank error, they constantly harassed me and extorted me by demanding that I still make payments even though I won't have access to my own credit. COMPLETELY asinine. I was also informed that it was a computer that made this decision to close out the account ; not even a real human being. On the phone I asked if the computer was racist, because I genuinely couldn't believe that I was targeted like this after this long of establishing myself as a good customer of Capital One without any prior issues. I have sent plenty of letters addressing the issue doing everything I could to get my accounts reopened and all they did was continue to send the same letter back stating moot claims that they won't be able to reopen it never stating the exact reason why. But to add even more insult to injury, Capital One blatantly knew they were committing fraud for nearly 7 years by allowing me to pay cash in a consumer credit transaction that was already prepaid upon approval of my application because I extended my credit card to them ( XXXX ) that paid for the account. This is beyond abuse and I am demanding that I get compensated for my pain and suffering accordingly. Capital One believes their cardmember agreement supersedes federal and congressional laws and this is treason. They need to be put in check for all of their abuse to several consumers across the Nation.

Company response to consumer: Closed with explanation