Consumer complaint received 2021-06-14
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TN
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
I booked a group vacation with XXXX based, XXXX XXXX XXXX XXXX on XXXX XX/XX/XXXX. I was scheduled to travel to XXXX with them on XX/XX/XXXX Bank : Capital One Payment made : XXXX on XXXX XX/XX/XXXX - card ending XXXX XXXX XXXX postponed my trip on XX/XX/XXXX, due to Covid travel restrictions. The company changed the dates of my trip to XXXX XX/XX/XXXX. 

On XX/XX/XXXX, XXXX XXXX sent me a refund credit note as it became clear that travel to XXXX was looking unlikely due to Covid. As you can see on the email, XXXX XXXX clearly state if you havent booked onto an adventure in 12 months time then we can process a full refund of all monies paid. 

XXXX XXXX went into administration and became bankrupt on XX/XX/XXXX. It was at this stage I became aware that I would not receive the services that I paid for. 

*Please see the attached email sent to me by the insolvency practitioners, XXXX XXXX XX/XX/XXXX, informing me of the administration. 

Under the Fair Credit Billing Act it is my right to claim a refund when the service I paid for is not received due to a company 's bankruptcy.

Initially my bank opened up the dispute and issued a credit but later overturned the credit and refused to accept it. 


I am informed by my bank that the reason for this is that XXXX XXXX merchant acquirer XXXX challenged my dispute with the bank on the basis that I may have been told that I was protected by XXXX XXXX financial failure insurance on their T & Cs which is incorrect. 

I am informed that the financial failure insurance was always in place for XXXX XXXX customers but from XX/XX/XXXX XXXX XXXX were able to insure every customer globally and they changed the T & Cs to reflect this on XX/XX/XXXX. 

As I booked before this time, I am not insured or protected by any other method. 

When the challenge was flagged by my bank, they should have given me an opportunity to show them evidence that clearly shows that I am not insured. 

I would have been able to submit the T & Cs relevant to my booking which clearly shows that the financial failure insurance was for XXXX customers only. 

I would have also submitted a flowchart provided the insolvency practitioners, XXXX which was sent to all XXXX XXXX customers. XXXX informed me that this flowchart was agreed and approved by XXXX themselves. 

*Please see the red box in the bottom-left corner clearly showing that the insurance is for XXXX customers only. 

*Please see the attached T & Cs that are relevant to my booking *Please see the flowchart provided by XXXX For your reference : The time limit for making a claim should start from the date you were expecting to receive the service/trip not from the purchase date, given you are buying something to be delivered in the future. In my case this date should be my new trip date of XXXX XX/XX/XXXX. 

They could also use the expiry date of my refund credit note which is XX/XX/XXXX. 

Alternatively, they may use the date I found out that I would not receive the trip (XX/XX/XXXX ). 

I have been informed by the insolvency practitioners XXXX that all credit card paying customers should go to their banks for a refund. The XXXX Government backed XXXX XXXX XXXX are advising me to do the same via this letter XXXX : XXXX I would like my bank to open my dispute and refund me, in accordance with the Fair Credit Billing Act.

Company response to consumer: Closed with monetary relief