Consumer complaint received 2021-04-08
Company: CAPITAL ONE FINANCIAL CORPORATION
State: OH
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
I had a credit card with Capital One since XXXX with a {$9000.00} credit limit. In XXXX XXXX I was the victim of an internet scam. At that time, I was promised that the scammer would pay off my then existing balance on this card of around {$8000.00} in exchange for future favors and a promised future monetary " reward. '' I gave out my Capital One account number for this supposed transfer and payoff. An electronic payoff amount reducing this account balance to XXXX was submitted to Capital One on my behalf by this " good samaritan '' coming from a supposedly legitimate account from a supposedly legitimate out of state bank branch. 
Capital One blindly and immediately accepted the payoff without exercising any due diligence, including a hold on the {$8000.00} payoff until funds would " clear. '' Why didn't they do this? 

In the meantime, I secured cash advances from this account assuming the account had a zero balance to send to this scammer as a loan with another promise that the account would again be paid off once/if the account would be maxed out at its {$9000.00} credit limit. Over a short period of 2-3 days I secured a max {$5.00} XXXX cash advance and with various other cash purchases the account did reach the {$9000.00} credit limit. As promised the scammer then executed a second electronic account payoff again reducing the account to zero, funds accepted by Capital One from the same bogus account and same bogus bank branch.without due diligence performed placing a hold on the large payoff amount until funds would clear. 

Well, after 4-5 days I was notified by Capital One that BOTH large account payoff amounts BOUNCED for a total of {$17000.00}. I was mortified. This ended activity on this account and Capital One closed it. Subsequently, however, Capital One kept sending me account statements with ever increasing balances and HUGE minimum payment requirements in the thousands of dollars. With constant added interest and penalties, the account balance went over {$20000.00} with XXXX, XXXX, XXXX XXXX dollar minimum payment requirements. I called Capital One to explain what had happened and they offered absolutely no sympathy to my predicament. I then submitted an online complaint to the FBI and heard absolutely nothing back. 

But the Capital One statements did not stop until after several months when the account reached a staggering {$29000.00} and required a {$6500.00} minimum payment requirement. It was then Capital One finally charged off the account but only after they had added OVER {$12000.00} in interest and penalties to my account. WHY? TO ME THIS IS CRIMINAL!! 

In the.meantime, I engaged a National Debt Relief ( XXXX XXXX, XXXX ) firm to help me with this unexpected debt and three other accounts ( unrelated to the internet scam ) with negotiated, reduced settlements. From the beginning I adamantly objected to the HUGE {$29000.00} ending balance on the Capital One account..I figured a {$17000.00} balance in the account when ALL activity stopped after the BOUNCED {$8000.00} and {$9000.00} payoffs accepted by Capital One without due diligence and holds on these large amounts. Had this been done, the scam would have been stopped dead in its tracks. 

Sadly, NDR told me that contesting ending balances was NOT part of their service. They eventually " negotiated '' a {$15000.00} " settlement '' with Capital One on this BLOATED account, WHICH SHOULD NEVER HAVE REACHED THIS UNGODLY AMOUNT IN THE FIRST PLACE!! 

Capital One needs to erase the {$12000.00} in interest and fees they levied on my account after activity had been stopped yet all the while they egregiously added to the balance until it reached the the ungodly {$29000.00} level before it was then mercifully charged off. 
UNFORTUNATELY, SEVERE DAMAGE HAS BEEN DONE TO ME AND MY CREDIT SCORES OVER THE LAST 18 MONTHS THAT ARE SO LOW THAT I CAN NOT SECURE ANY KIND OF LOAN! 

I'M XXXX ON XXXX XXXX CAN NOT DEAL WITH THIS EXTRAORDINARILY CRUEL FINANCIAL BURDEN IMPOSED BY GREEDY, CRIMINAL CAPITAL ONE!! MY WIFE JUST RETIRED FORCED TO BY XXXX XXXX XXXX. WE HAVE LOST HER FULL-TIME SALARY AND BENEFITS. I'M SEMI-RETIRED. TOTAL INCOME IS JUST SOCIAL SECURITY, PART-TIME MINIMUM WAGE WORK INCOME AND A MEAGER {$1000.00} MONTHLY RETIREMENT STIPEND FOR THE WIFE. 

XXXX XXXX

Company response to consumer: Closed with explanation