Consumer complaint received 2020-08-24
Company: CAPITAL ONE FINANCIAL CORPORATION
State: OH
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Trouble using your card
Sub-issue: Credit card company won't increase or decrease your credit limit

Complaint:
I have been a capital one customer since XXXX and today I logged into my account online to see that my Quicksilver card had been reduced from a credit limit of XXXX to just a measly XXXX. I have never even had a late payment or any derogatory marks on my credit. I have excellent credit and with a very big credit profile with many lenders including capital one. I have 6 cards with capital one and I called and it was a one hour wait or maybe longer to speak with an agent. She was very uncaring about the matter so I requested a supervisor who said she has no authority to fix anything or put my account back to the credit limit I had which was XXXX. She spoke in a way to me that seem to be a social injustice and racially motivated. I feel as though I was discriminated against while talking to the supervisor. I have excellent credit with a very high income and have always had a good relationship with capital one until today. Sir, this reducing of random credit limits during a pandemic especially is really unethical and immoral business practices, no other bank has treated me this way ever. This will affect some peoples credit scores that have done nothing wrong to deserve this kind of treatment. My card now has a XXXX limit which is not even useable compared to my other lenders limits and they treat me as a valued customer. I understand these are challenging times in todays world. But, this leaves a bad taste in my mouth with capital one. I have worked hard over the years to have the credit profile I maintain and am very proud of my financial success. I also would like to challenge this to the fair credit reporting act as I did nothing wrong to deserve my credit limit being reduced drastically. I am having a great deal of XXXX  and XXXX XXXX over this matter todayI wonder how long before capital one starts slashing my other card limits. This is much unneeded stress given these challenging times. I will pursue XXXX injustice if someone does not look into why this had to be done to my account that is 12 years old. I see a physician for XXXX related problems. I did not need to be treated this way today.discrimination is the best word to fit this action. I am asking you to restore my credit limit from XXXX back to XXXX please? I hope to hear from your office very soon with hopefully a remedy to fix this matter. NO ONE ELSE WOULD HELP. I SPENT HOURS OF TIME ON THE PHONE FRIDAY XXXX. Please restore my faith in capital one bank. I have always been a very loyal cardholder to capital one bank. Never one problem until today. Please assist me in resolving this matter. Thanks in advance for your time and help! No executive office response, but an agent called today XXXX and he was very rude and unprofessional. He said you can request a credit limit increase which means he is really not in the executive office. The executive office is the only one who can increase a limit back if this happens for no reason. i TOLD HIM THERE ARE PAGES UPON PAGES OF PEOPLE BEING AFFECTED BY THIS BANKS UNETHICAL AND IMMORAL BUSINESS PRACTICES. He responded with : if you do not like what we have done then you can always leave. What a professional response and class act. This agent was lying from the very beginning as he could not prove he was in the executive office. He called because i also complained to their social media website with posts. Is Capital One in financial trouble? Why have they suddenly decided to try to ruin consumers good credit ratings? They have no legitimate reason for taking this action as they admitted this to me. I took 12 1/2 years of letting this card grow and they destroyed that in one day. On behalf of all consumers this needs to be investigated ... just read all the pages of unhappy consumers stunned that Capital one is out to ruin credit scores and for no valid reason. This should be referred to the FTC. They further stated they expect a consumer to run up a tab on your credit card and if not then that justifies decreasing your credit limit. No it does not, that is predatory lending and pushing some consumers into debt possibly. Shameful banking practices by this lender.

Company response to consumer: Closed with explanation