Consumer complaint received 2018-04-10
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MO
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:
The issue is with Capital One Bank ( USA ), N.A. and their recently acquired Cabelas 's CLUB Visa card. Unfortunately, I was unable to make my minimum payment. The account was 60 days past due. I made a more than minimum amount payment on my next due date, bringing the account current and reducing the balance to a level below the credit limit. Unbeknownst to me, my account had been cancelled and closed ( pending payoff the remaining balance ) on XX/XX/XXXX. I received this written correspondence after making the payment.

In reviewing my documentation, my account statement dated XX/XX/XXXX made no mention nor offered any warning of possible account closure. I received no other correspondence.

Not only does this mean that the account is no longer available to me to use, but my overall available credit will now be reduced as well, which will negatively impact my credit score. This will likely lead to adverse consequences with other credit accounts as well. In addition, Capital One states that my Cabela 's CLUB points ( loyalty rewards totally {$31.00} ) are forfeited.

I reached out to Capital One to discuss this matter. I spoke with front-line account & credit desk representatives who, while courteous & professional, provided no new information nor offered any progressive action or offered any recourse available to me ; they did mention that I can request my loyalty/shopping rewards via a gift card once the account balance is paid off. In other words, they are holding already earned rewards for ransom of the account balance. Were the account open, these rewards could be utilized at any time. This is not only poor customer service, but an unfair practice given that CLUB points can be earned & redeemed without a Visa card.

I also spoke with a credit supervisor who was polite but rather flippant. When I asked why no warning was provided, she simply stated that such information would not provided with an account statement. She also stated that such reviews happen at the end of the month, regardless of billing cycles. First of all, XX/XX/XXXX was not the end of the business month. Secondly, if the company can make decisions in-between statement dates without notice, the cardholder is at a distinct disadvantage. This overall lack of information means that the company and the cardholder are not playing by the same set of rules.

Finally, the supervisor informed me that the account had been sent to a collection agency, XXXX. I received no correspondence from this company and have not dealt with them. It seems that Capital One sought to abdicate their responsibility for appropriate customer service and to ensure that cardholders are not given the opportunity to effectively deal with challenges relating to their accounts.

I have had financial difficulties before and never once had these type of actions taken on this account when it was owned by XXXX XXXX XXXX XXXX. The card business transfer has not been a positive shift for this consumer.

Company response to consumer: Closed with explanation