Consumer complaint received 2021-05-07
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CT
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
I have two instances that affected my credit. First, I had a credit card with XXXX, the bank they had the credit program with was XXXX XXXX. Second, I had a Capital One credit card with Lord and Taylor. 

XX/XX/XXXX : My credit was negatively impacted due to the fact that XXXX XXXX closed and as a result closed my credit card account. The settlement says it is closed because I haven't used it in a while, which wasn't true. It was because the bank closed. 

XX/XX/XXXX : My credit was again negatively impacted because Lord and Taylor went out of business, again it says my account was closed due to not using for a while, which is NOT true. Lord and Taylor went out of business, as a result my credit card was closed and the settlement negatively impacted my credit. 

I reached out to XXXX XXXX, who transferred me to XXXX, who gave me the run around and told me they can't make any adjustments on my account. They also said they aren't the ones who would physically change my credit score, and that I would need to call Capital One and XXXX XXXX directly. As XXXX XXXX  is closed and I had no way to contact them, I tried my luck with Capital One. Capital One said that there is no adjustment for them to make, and spat me back to XXXX ; who then reiterated that they can not physically change my credit score. My credit score is XXXX now, and that is from months of rebuilding from what it dropped to after these two settlements. In other words, before any of this happened my credit was XXXX, after these two 'settlements ' it dropped to XXXX and I worked extremely hard and made sure I paid every one of my bills on time to build my credit up. I can't even imagine what my credit would be right now, had these two 'settlements ' not affected my account. I was talking on the phone with a sibling and a colleague overheard me venting about my credit issues, and after I got off the call my colleague approached me and referred me here as she had a similar issue and worked with you guys to resolve the issue. I'm not sure if there is anything you can do here, but I figured it was worth a shot to try. I don't believe my credit should be affected because Lord and Taylor went out of business, or XXXX XXXX closed. That doesn't seem fair to me. I am copy/pasting an email I received from Lord and Taylor notifying me my account had been closed : " Were writing to let you know that the Lord & Taylor Credit Card program with Capital One has ended, and your Capital One account was closed on XX/XX/XXXX. 

Important information about the transition : As previously announced, Lord & Taylor has ended the Rewards program effective XX/XX/XXXX. All previously issued Rewards expired on XX/XX/XXXX and can no longer be redeemed. 
Your Lord & Taylor Credit Card has been deactivated, and you can not use this credit card for new purchases. 
As long as your account has a balance, youll continue receiving statements, and all terms and conditions remain in effect. ''

Company response to consumer: Closed with explanation