Consumer complaint received 2018-08-07
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
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:
I have had a XXXX XXXX XXXX credit card since early XXXX, XXXX. I had a {$30000.00} monthly credit limit and paid a {$59.00} annual fee. I travel a lot and the Capital One card was perfect for me as it gave me points for purchases and I did not incur foreign transaction fees. I paid off my statement in full, each and every month since XX/XX/XXXX. I have never been late nor ever charged a late fee. While I have other credit cards, I almost exclusively used Capital One because of the benefits. I have always been told I was a valued customer when I needed consumer services and always felt I was treated like a valued customer until the end of XX/XX/XXXX. On XX/XX/XXXX I got an email from Capital One stating that I was receiving a rewards credit in the amount of {$2500.00} and thanked me for being a Capital One customer. I thought the email was odd because my purchases result in points, not cash back. I was getting ready to leave for a trip the next day, so I didn't think too much about it as the email was very friendly. I thought I would sort out when I got back from my trip. I attempted to make a purchase on the same day ( XX/XX/XXXX ) and the card was declined twice. I assumed it was a glitch and never connected with the email. When I got home I called Capital One customer service and was told my account had been closed due to past, current or future litigation against me. I was flabbergasted. I had, and still have, no idea what Capital One is referring to. The " reward credit '' for {$2500.00} was the cash value of the points I had accumulated. I immediately got a credit report and it shows no negative accounts and no bankruptcies, judgements or liens against me. I have logged onto county and federal clerk of courts looking for cases against me. I find nothing. I called Capital One twice and requested to speak to the most senior person in charge. I reached two different people, both of whom said they could not/would not tell me any more details, said there was no one else I could speak with, no one to whom I could appeal, and the decision was final. They said they sent me a letter which I only received on XX/XX/XXXX. I told the representative they had made a mistake, that I absolutely did not, nor do not, have any past, current or future litigation against me. They flatly denied that a mistake was even possible. They repeatedly told me that Capital One retains the right to close accounts for any reasons. I argued that they were significantly hurting my credit rating, but they refused to provide any assistance. My credit report score is considered Excellent but the Capital One account does not yet show as closed. I have since been accepted for a XXXX XXXX XXXX card with the exact same credit limit. I strongly believe that Capital One has made a mistake and my credit rating will be negatively affected by it. I would like to have this situation resolved so that my credit reflects the Excellent score I deserve.

Company response to consumer: Closed with explanation