Consumer complaint received 2019-03-09
Company: CAPITAL ONE FINANCIAL CORPORATION
State: WI
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
My bill for my CapitolOne Quicksilver rewards card was due on XX/XX/19. This was the first bill due date from the time I had gotten the card. The day that I opened the card in mid XXXX, I set up an online auto payment through the Capitol One credit card app. This auto payment was to pay the balance in full on the due date, XX/XX/19. On XX/XX/19 I checked my Capitol One app and the pending auto payment was only about 60 % of my balance. It would not let me cancel this already pending payment so I had to create another payment to pay my balance in full in order to avoid interest fees. I immediately called Capitol One where the gentleman told me both payments now had to process through my bank and sit there for five days before he could start a refund. Feeling that I had no other option, I complied and he assured me I would be called back a week later on XX/XX/19 to start the refund process. So now I had to transfer more money to that account to cover the 160 % payment of my balance that " had '' to go through and sit in my bank for five days. On XX/XX/19 I never got a call back from Capitol One about my refund. I called them that date and the lady told me she could not get a hold of their refund department for me and I would have to try again at a different date. I tried the next day, XX/XX/19 and got through to the refund department finally, though their " system was down '' and I had to call yet again. Finally on XX/XX/19 I called again for the now fourth time in 8 days only to not be able to get transferred to the refund department again. The lady on the phone now mentioned she could start a " manual refund '', something I had never been told by any of the precious representatives I had worked with. She said she could start the manual refund and it would be an additional 2 to 3 weeks before the overpayment was refunded to my account. Adding that on to the 8 days I have already waited and Capitol One has held my account overpayment for a total of a month now before I will be able to see it again. I spoke with a supervisor and she told me the same thing about the timeline of a month for the overpayment that stemmed from a malfunction in their system with the auto payment in the first place. The lady only apologized but also told me that they could have started the refund earlier than the timeline I was given by the first gentleman on XX/XX/19 and that I was given wrong information. She refused to help me in any other way other than starting that manual refund. She did not try to compensate me in any way for the lost time and money that I have to endure for a months time. She did not understand the concept of the time value of money and how my money that they had no right to take on XX/XX/19 will be worth less at the end of XXXX. In summary, I paid 160 % of my balance on the due date because of a flawed system, was told different information by each representative I spoke with, spent over 4 hours of call time with representatives explaining my story over and over again and will still not see my money until a month after they took it from my account. This is a crooked business practice where I had to spend this much time and effort to recover money from a company who wrongfully took it in the first place. They were clearly trying to get me to have to pay their interest payments based off of a partial balance payment from the beginning. I will be cancelling their card immediately after my refund reaches me.

Company response to consumer: Closed with explanation