Consumer complaint received 2021-07-01
Company: CAPITAL ONE FINANCIAL CORPORATION
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Trouble using your card
Sub-issue: Can't use card to make purchases

Complaint:
-- XX/XX/XXXX -- Took out a {$9800.00} cash advance from Capital One, The same day all funds were deposited at XXXX XXXX XXXX XXXX XXXX XXXX XXXX ; Where all funds were available immediately. 

-- XX/XX/XXXX -- Did a balance transfer of {$10000.00} from XXXX to Capital One, and the funds were available within 2 days. This transfer paid the previous cash advance and any balance remaining on my Capital One Credit Card at that time. 

-- XX/XX/XXXX -- Took out a {$10000.00} cash advance from Capital One, The same day all funds were deposited at XXXX XXXX XXXX XXXX ; Where all funds were available immediately. 

-- XX/XX/XXXX -- Did a balance transfer of {$10000.00} from XXXX to Capital One, This balance transfer like before was to pay the previous cash advance and any balance remaining on my Capital One Credit Card. Unlike XX/XX/XXXX, The funds were not available within 2 days, and Capital One said they were still waiting for verification of funds from XXXX although it was the same institution and account already vetted on XX/XX/XXXX. 

-- XX/XX/XXXX -- ( five days later ) Called Capital One to ask about the hold placed on this transfer ; Their response was that the funds wouldnt be verified until XX/XX/XXXX and did not offer a reason why, even though this transfer was coming the same XXXX and account as before. 

-- XX/XX/XXXX -- WROTE THE FLORIDA ATTORNEY GENERAL : I initiated a balance transfer on XX/XX/XXXX from my credit card account at XXXX XXXX XXXX XXXX to my credit card account at Capital One in the amount of {$10000.00}. I had done an identical balance transfer on XX/XX/XXXX for a larger amount and the funds were available within 2 days. This time however, Capital One has arbitrarily placed a 9 day hold on the availability of these funds. Their records show that the payment has processed and XXXX XXXX confirms the payment has processed yet Capital One refuses to provide the credit. They say their computer system placed the hold and there is no way for them to release the hold/funds. Since the 9 day hold pushes the availability to the Saturday of a 3 day holiday weekend when banks are closed, I am unable to use the credit card as I needed at my bank until Tuesday XX/XX/XXXX. This means Capital One is holding over {$10000.00} of my funds for 2 weeks with no explanation and no interest or anything paid to me. This again, is clearly a direct arbitrary change in their policy since I had a larger amount available in 2 days just 1 week earlier. 

-- XX/XX/XXXX -- ( 10 days later ) the balance transfer of {$10000.00} from XXXX to Capital One became available and this transfer paid the previous cash advance and any balance remaining on my Capital One Credit Card to date. 

-- XX/XX/XXXX -- Took out a {$10000.00} cash advance from Capital One, The same day all funds were deposited into XXXX ; Where all funds were available immediately. Since this date my Capital One Credit Card has been maxed out and I have been paying off the minimum balance each month from the same NFCU account that all the prior transactions mentioned above were involved in. 

-- XX/XX/XXXX -- THE FLORIDA ATTORNEY GENERAL RECIEVED MY COMPLAINT AND ON XX/XX/XXXX FORWARDED MY COMPLAINT TO THE CONSUMER FINACIAL PROTECTION BUREAU ( CFPB ). 

-- XX/XX/XXXX -- THE CFPB RECIEVED MY COMPLAINT ( case number issued : XXXX ) AND ON XX/XX/XXXX ALSO FORWARDED IT TO CAPITAL ONE ( Original complaint is written above in quotations ) -- XX/XX/XXXX -- CAPITAL ONE PLACES A TEMPORAY RESTRICTION ON MY CREDIT CARD, 8 days after receiving my complaint from the CFPB, preventing any use of the card or accrued rewards miles to any authorized users. 

-- XX/XX/XXXX -- CAPITAL ONE TELLS CFPB THEY ARE STILL WORKING ON IT : REQUIRING ADDITIONAL TIME FOR RESEARCH -- XX/XX/XXXX -- CAPITAL ONE RESPONDS TO CFPB WITH CLOSED WITH EXPLANATION ( see case number XXXX to read their 'explanation ' XXXX -- XX/XX/XXXX -- Called Capital One because temporary restriction is still on my card, Capital One agents couldnt tell me directly why there was still a hold and said they would contact me in 1 day to rectify the issue once speaking to their authority and would attempt 3 calls to reach me once they had any answers. During this phone call the agent mentioned that one of the possible reasons why there was a restriction on my card was because Capital One potentially couldnt verify what financial institution my XX/XX/XXXX balance transfer had come from, however knowing that they received a copy of my complaint issued from CFPB directly stating XXXX as the institution and as previously stated all transfers to and payments given to Capital One have come from XXXX. 

-- XX/XX/XXXX -- ( 6 days later ) I was contacted by Capital One, but unavailable, and no other attempts since were made by either party to address this issue. 

-- XX/XX/XXXX -- Account still has a restriction on it not allowing use of the card or accrued rewards miles by any of the authorized users. To date I have continued to pay my minimum balance with Capital One from XXXX, the same institution they claim cant be verified. 

-- -- -Based on the time line I strongly believe that Capital One is intentional and deliberately preventing use of this credit card because of my complaint issued on XX/XX/XXXX to the Florida Attorney General. I have tried to rectify this with them directly and now I'm hoping your team will have different results against this blatant harassment towards me. Thank you.

Company response to consumer: Closed with explanation