Consumer complaint received 2023-10-20
Company: CAPITAL ONE FINANCIAL CORPORATION
State: VA
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
On XX/XX/2023 XXXX XXXX XXXX added a {$71.00} ( 2 % ) surcharge fee to a repair bill of {$3500.00}. The bill and fee were both unexpected as the original estimate was for around {$600.00}. 

The revised estimate was sent as an email and text the day before as an urgent request. As I was working, and as we wanted the work to be completed that evening, I quickly approved the estimate. After work I called to check on the status of our car. After calling three numbers without anyone answering I left a message. A while later I received a call back from XXXX who said the work could not be completed as they were waiting on a part. I asked if we could delay the repair and they said they had already taken the car apart and that it would be completed the next day. 

We picked the car up and were informed about the additional fee for using a credit card. I asked XXXX about the policy and they said they added it the month before because the credit card companies raised their fees and that they were merely passing the cost through. We pay off our credit card bill each month but adding {$3500.00} is too much for us to pay this month triggering an additional credit card fee and interest payments over 20 %. In effect, we are being punished twice : once by XXXX and by the credit card company. XXXX indicated they are simply passing the fee on to the credit card company and suggested we complain to them to reduce their fees to XXXX. It feels like we, the consumer, is simply being used to as a lobbying tool in a political game. 

The convenience of paying by credit card benefits both the consumer and the business. They do not have to hire additional staff process to checks, check Ids or count cash. While businesses pay a transaction fee to the credit card companies the benefits of credit card payment are well known. They allow a quick buy-now pay-later incentive for customers to purchase products and services immediately with the credit card companies handling the transaction and actual customer payment notification and billing -- again, reducing the need for businesses to have additional staff devoted to these costly tasks. Note that banks, not XXXX or the credit card companies, handle fraud and other non-payment activities -- again, reducing the need and cost to the business. 
( see : XXXX XXXX XXXXXXXX last visited XX/XX/2023 ) It's not clear to me why, or if, the credit card companies have raised their transaction fees on businesses like XXXX. XXXX and XXXX are both very profitable. Their profits rise with inflation -- as the cost of products rise, their revenue increases as the fees are based on a percentage -- possibly XXXX is confused by this. While the amount the credit card companies receive is greater because of inflation, the percentage remains the same. There have been both a small increase and some decrease in interchange fees last year, but this impacts both credit and debit cards, and XXXX is only charging for credit card transactions. 

Finally, it has been a banner year for credit card companies with revenue and net income rising 8.3 % ( see : XXXX XXXX XXXXXXXX last visited XX/XX/2023 ) My complaint is that the 2 % convenience or surcharge is unfair and should be dismissed. 

We attempted to notify Capital One online to report the problem and the response was : XXXX - Report a problem : We've hit a snag. 
Looks like we need to fix something, so we're working on it. Try again in a bit.

Company response to consumer: Closed with explanation