Consumer complaint received 2019-08-11
Company: CAPITAL ONE FINANCIAL CORPORATION
State: OR
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:
Complaint to Capital One : On XX/XX/19, I did receive an email in XXXX from CapitalOne baiclly stating the following : - It had been more than 3 years since last time I used my credit card account ( ending in XXXX ) and that for such reason, my account had been " restricted. '' - This means I could no longer use the card and that the account would be closed for " lack of activity '' after XX/XX/2019. 
- Until that date, your account would remain " restricted, '' and that the restriction on my account could not be lifted before it is " closed, '' nor could it be reopened once closed. 
- They kindly reminded me that I still had a reward balance of {$68.00}, and I still had until XX/XX/2019 to redeem the rewards before my account gets closed. 

It is more than disappointing to hear that my account is being arbitrarily closed for lack of use despite the many years I used them, and always paying balances on-time. What is even more frustrating is that they didn't bother to send an advance notice giving you a heads up ( prior to them making the unilateral decision of closing the account ). 

My CapitalOne account is the oldest account that I have and losing them will drastically affect my credit score, due to being the oldest line of credit ( and the one ultimately determining the length of my credit history ). 

On XX/XX/19, I called CapitalOne and asked for something very simple : I asked for the contractual and/or legal basis for the decision and they were unable to answer my question. They kept saying that this was their policy, yet were unable to point out the specific provisions under the Terms & Conditions or otherwise cite any credible basis for this decision ( they didn't even provided a commercial basis for the decision ). After speaking with one of their Reps, I demanded to speak with a supervisor. I was put through and spoke with " XXXX '' ( agent ID XXXX ) but my questions ( which were very pointed questions in relation to this unfortunate decision ) remain unaddressed. 

I'm extremely dissatisfied as to how CapitalOne handled my concerned ( even beyond the decision itself ), and at the very least, I feel misinformed and underrepresented, hence the reason why I'm filing this complaint. My objective in doing so is to better understand the legitimacy of CapitalOnes arbitrary action and, irrespective of the fact it lacks any " moral high-ground, '' where is this decision rooted since ( again ), CapitalOne failed to provide a credible explanation which I view as an abuse to their consumers ' trust. I keep some hope that CapitalOne will understand how important preserving my first credit line is for me and if we accomplish this, I would also compromise to use my credit card more often than I've had during the last couple of months - I understand that there are financial objectives and targets that CapitalOne needs to pursue to remain competitive in the market and, in this respect, I'm more than willing to work with them. 

PS : A subsequent letter ( also in XX/XX/XXXX) was sent to me after I called on XX/XX/19 ( a copy of which is attached hereto ). 

I look forward to a resolution to this issue. 

Thanks and best regards, XXXX XXXX. 
( XXXX ) XXXX XXXX XXXX

Company response to consumer: Closed with explanation