Consumer complaint received 2019-09-09
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA
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:
I opened the account XX/XX/XXXX. It was a secured credit card with Capital One so that I could build my credit. I have never made a late payment. On XX/XX/2019, I set up for the balance of {$190.00} to be drafted from my bank account to Capital One to settle the balance. Capital One released the funds to me that same day and then I used the card to buy groceries. 7 days later, Capital One notified me that the payment was returned. i called and asked them how is that so when the funds were already made available in my account and both them and my bank verified that the payment was withdrawn. The agent said it was because sometimes, they give a courtesy credit to allow customers to use the funds while they are still processing. Which made zero sense to me because as a customer it confused me. I ended up thinking the Capital One account was paid off and started spending money that technically was not there but they displayed it to me as if it was. The balance then became {$330.00} on the account so I called them to see what advice they could give on setting up the payment and having it go through in time enough to where it will not return. The agent said to set up the payment for a much sooner date than when the funds would be drafted so that they are released the same day my direct deposit hits my account. i then asked if she thinks I should set up the account for XX/XX/XXXX and she said yes. So, that is what I did. However that time, they only took 2 days to process the payment and the funds were not yet in my bank account. Later that night on XX/XX/XXXX, my direct deposit hit from my job so I reprocessed the payment with Capital One. The payment posted on XX/XX/XXXX in the full amount of {$330.00}. I then called to see why my credit was not yet available and was told my account was closed. I asked why and the agent said due to too many returned payments. I feel that the first returned payment was all there fault because they had me thinking it was all taken care of. I cried, begged and pleaded with them to reopen my account but they told me they could not do so. I then was notified by my bank that they took the {$330.00} out on XX/XX/XXXX at XXXX XXXX EST so I called to be sure it was nothing they can do to reopen the account since they did actually received the funds and my account was paid off in full. They then said my account was open and in good standing but they needed to call my bank to verify that the funds were drafted out. We called my bank on a conference call and the bank verified that they did take the payment. The agent then said that he was going to take my payment off the hold and that I can go back to using my Capital One credit card. I then logged into my Capital One account and was notified that my card had some restrictions on it so I called again. I was told that the account was again closed. I asked why and now no one is giving me any reason. They took my money and closed my account for something they did. I did absolutely nothing wrong.

Company response to consumer: Closed with explanation