Consumer complaint received 2021-06-15
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MI
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
Capital one was contacted on XX/XX/XXXX to inquire about changes on my credit report. I spoke with XXXX XXXX in the recovery department who explained there was no department I could speak with to address how the credit is being reported. I asked to speak with a supervisor. A supervisor did not come on the line but I was able to speak with a Senior Account Manager, XXXX XXXX who advised the account ending in XXXX was noted on XX/XX/XXXX that the account should be deleted. At that time I requested that no information be deleted from my credit report because ambiguous information or a lack of positive history could tank my credit score. I was told the account would be noted and was provided an address for general correspondence to dispute the action. I have multiple disputes regarding the late payment history that has shown on my credit reports with Capital One and have been advised the information being reported is accurate. I did send a letter in XX/XX/XXXX and did not receive a response to my request. After my communication in XXXX Capital one has taken steps to accurately report late payment status and began in XXXX and over the last few months removing positive payment history up to the dates where the negative payment history began with this account. My credit score has subsequently dropped almost 100 points. There was one other event that impacted my credit score negatively where a 25 year old debt I had forgotten about resurfaced. The removal of the positive payment history changes the calculation and all credit card usage for a few months caused my score to drop 12 or more points although I was at a low to moderate credit usage ( 12 % or less ). On one week only my credit card payment was updated and dropped by score. XXXX  showed a payment amount was reported and when contacted insisted to reach out to the credit card company. I was told by Capital one that the new balance is being reported only and accurately and to create a dispute with the credit reporting bureau who has the ability to identify the payment amount based on the previous months payment. My complaint is that incomplete information was created by the deletion of accurate and positive payment history. Also XXXX  is reporting the account as a revolving account that is closed and not as an account in collections. XXXX  shows the difference between the credit limit and the balance owed as available credit. This is calculated individually as a percentage of credit usage on a closed account where credit is not available. I don't know if the card company or the credit bureau is responsible for relaying that a closed, written off account has an available credit amount. I have read multiple articles provided by Capital One who suggests that card holders pay debts off within 90 days to avoid negative reporting to their credit reports. Although this is true and standard for active cards heading toward default, the subject matter of the article was in regard to removing negative payment history on reported in scenarios that include defaulted cards.

Company response to consumer: Closed with explanation