Consumer complaint received 2020-11-01
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MD
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Unexpected increase in interest rate

Complaint:
I opened a Capital One Spark credit card account in XX/XX/XXXX with a 0 % APR offer. I used the {$10000.00} limit to pay for inventory for my small business. I was told by two Capital One employees, one at time of activation and one several months later, that the end date on my offer did not appear in the system. I was also told that this glitch was being handled behind the scenes, and that I need not worry about it, and that I should continue to make my minimum payments on time. I did that. Without any other information subsequently given to me, Capital One began charging interest in XX/XX/XXXX. I attempted multiple times to escalate the issue, since I strongly believe that Capital One should have notified me, under the special circumstances, that the account would be coming due in full. I requested that we discuss a reasonable amount of time in which to pay the balance, without additional charges. It was extremely difficult to escalate the issue to anyone higher than a manager in customer service, and my request was denied. I truly felt as though I was talking to a computer screen, rather than a person, because it did not seem that the details were being considered. The computer showed that I had interest due, so that was what I should pay, regardless. I pursued dispute resolution. I felt the weight of time passing, and then while waiting fora reply, the pandemic began. The bank had to deal with many unexpected resulting issues, so I was trying to be patient, all while continuing to make payments each month, based on the principal. It wouldnt be until several months later that I discovered that my case had been closed, unbeknownst to me. The bank continued to charge me interest and late fees all along. In XXXX, without any higher level communication, I paid my principal payment of {$8200.00}, which was the original {$10000.00} less the amount I had already paid in monthly payments. Since that time, my account has continued to accrue fees and interest, based on the XXXX balance. My credit has been damaged, as well. This is so extremely distressing to me, as I believed that I was acting in good faith all along. 

I really didn't know what channels to pursue, since it was impossible to connect with a higher level employee within the Capital One system, so I visited my local branch in XXXX. They contacted the credit card complaint unit, and the same response came back, without even a minimal attempt at an accommodation of any sort. The local branch advised me to contact the Office of the President at Capital One, and let me know that they generally reply within two weeks. I sent a letter on XX/XX/XXXX, and I haven't heard from them. I understand that the virus can be causing a delay, but this has been going on for far too long already. 

Communication with Capital One during this ordeal has been excruciatingly challenging all along. I have found that they have little to no integrity or regard for the customer and will toss you around until you may just be willing to give up. I have lost all respect for this company, unfortunately.

Company response to consumer: Closed with explanation