Consumer complaint received 2017-11-07
Company: CAPITAL ONE FINANCIAL CORPORATION
State: WA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
Notified by Capital One of restriction ( no purchase authority ) on our XXXX XXXX credit card account effective XXXX XXXX, XXXX with closing in 90 days, due to lack of activity over the last XXXX years. Letter received early XXXX, XXXX, with no prior notice of intent to close account. However, the current cards in our possession do not expire until XXXX, which we intended to use during this upcoming XXXX season. Call to Customer Care on XXXX/XXXX/XXXX was unsatisfactory wherein the first agent merely repeated what 's in the letter. No option to unrestrict or reopen account once closed. She suggested to my husband he could apply for another account if desired -- which makes no sense. Why apply for a new account if the existing one can be left open? Perhaps it is Capital One 's intent to close " no annual fee '' accounts or to push people to new accounts with new terms and maybe ones with fees? 

Because this is an old account ( 20 years? ) in our credit history, closing the account negatively affects our credit score because it takes a long established account out of the mix.. We are seniors and it is an account that has been used regularly in earlier years, but less so in recent years ; however it was our intent to use again this month for the upcoming holidays. Also spoke with a supervisor ( XXXX, XXXX ) after getting nowhere with the first agent. XXXX came on the line, indicating he had been briefed by the first agent. He repeated the same mantra -- there is no flexibility to keep from closing the account. I asked for rationale for closing an account that the customer wanted to keep, that was not in arrears, with an excellent payment history, and would use in the near future. He explained it as the right of the company to make a business decision to close out unused accounts. Even though we intend to use the account and did not wish it closed, he said they would still close it. It did n't matter what the customer wanted nor is there any other option to seek an exception to this rule. I thought he was a bit assertive and showed no empathy. With another credit card account with Capital One and bank accounts with CXXXX XXXX XXXX, I am shocked with this treatment of a long standing customer. 

I would not complain if there were official prior notice of inactivity that may result in account closure and consumers are given a reasonable time ( eg 60 days ) to demonstrate use or lack of use. Plus our current cards clearly state the expiration is XXXX. Why would I think the account would be unilaterally closed with no prior notice? Keep in mind, our account is not yet CLOSED. They have restricted the account such that no purchase activity can be made, and giving us 90 days to use the program benefit points associated with the card, but it will be closed in 90 days. To receive a letter after the fact with no options, is XXXX treatment of consumers.

Company response to consumer: Closed with explanation