Consumer complaint received 2020-07-11
Company: CAPITAL ONE FINANCIAL CORPORATION
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Difficulty submitting a dispute or getting information about a dispute over the phone

Complaint:
On XX/XX/2020, Capital One billed me a {$39.00} member fee for a card I do not use. I paid the fee in full that day, which was credited to my account on XX/XX/2020. 

Some days later, Capital One reported the {$39.00} fee which resulted in a 15 point slide in my XXXX  credit score. When I called Capital One to complain, they told me they did nothing wrong - even though they reported a bill within days of notifying me of the amount due, before the minimum amount ( {$25.00} ) due date, XX/XX/2020 - yes, that is the correct date ... XX/XX/2020. 

Upon calling to learn the circumstances of this type of reporting, I called Capital One customer service last night, Friday, XX/XX/2020. As you can see, I am very disciplined and attentive to my credit situation. 

Three years ago, I had zero credit history and a sub XXXX credit score. I have strategically and systematically exercise extreme diligence to improve my credit score as quickly and efficiently as possible. I succeeded in getting my XXXX  credit score to XXXX just a few weeks ago. That was a triumphant milestone for me ... only to be erased by predatory reporting practices by Capital One, whose bread & butter is the marginalized credit market regular working folks like me who are educating themselves and making the necessary DAILY SACRIFICES trying to build a solid financial foundation. 

How could it possibly be legal and/or ethical to report in this fashion without being predatory. Im fortunate to be able to pay the greed-driven fee in the midst of a global pandemic when most other companies are compassionately waiving their fees during the COVID-19 crisis. The majority of the COUNTRY is unemployed and struggling with food insecurity. XXXX waived their {$490.00} member fee two months ago - without me even asking. I only found out when I checked my statement and saw the {$490.00} fee post to my account, followed by an immediate {$490.00} credit. No fanfare, no promos, no special requests, or payment arrangements required. XXXX got it right. 

Capital One got it completely wrong. 

I, however, made a sacrifice, paid the member fee I was obligated to pay on a card I HAVE NOT USED IN OVER A YEAR! And they still find a way to punish me. 

IS THIS HOW RESPONSIBLE CREDIT REPORTING IS SUPPOSED TO WORK??? I dont think so. The supervisor on the phone engaged in this circular double-talk to evade responsibility explaining their credit reporting process. He and the previous CSR I spoke with were audibly flummoxed because their traditional deadbeat debtor script could not be applied in this situation. When I explained the timeline from the fee posting to full payment was within 4 hours of my notification. The payment posted in full within 24 hours. When were they able to report this fee to XXXX? Unless they reported to XXXX BEFORE notifying me of the bill, SIMULTANEOUSLY as they notified me of the bill or AFTER I paid the aforementioned bill in full, there is no ethical way out of this one. 

I have never experienced ANYTHING like this but this definitely wreaks of predatory reporting practices for profit. And if this is a case of XXXX disproportionately punishing consumers, we have at least TWO transgressors in this scenario. And if this is just how the credit system wirks, then we have fundamental issue with inequities in the consumer credit market which prey on marginalized credit consumers. All of which MUST BE ADDRESSED AND REMEDIED IMMEDIATELY. 

I have included all available supporting documentation with this complaint. 

Thank you for your time and immediate attention to this matter.

Company response to consumer: Closed with explanation