Consumer complaint received 2022-02-16
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Credit card or prepaid card
Sub-product: Store credit card
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:
On XX/XX/XXXX my lender bought to my attention a delinquent Capital One credit card. At first I said I did not have a Capital One credit line. After doing some research I discovered that my west elm credit line was now a Capital One. 

My west elm credit line was with XXXX XXXX  when I first open the account. Up until west elm moved to Capital One my account was on time, current, and on autopay. I called Capital One on Thursday, XX/XX/XXXX and from the beginning of the call they could not find an account associated with my social security number or phone number. I was transferred to several departments until finally the Fraud department was able to find my account number.

I spoke to a manager in the Collections department, explained that I was not aware of the bank changes from XXXX to Capital One, late charges and a delinquent balance. I never received a notice about the change. He confirmed the bank changed and also confirmed that when west elm changed banks the auto payment was suspended and a new card was issued. Again, none of this information was communicated to me. The last email I have regarding my west elm account was on XX/XX/XXXX confirming my auto payment being processed. The person was speaking to told me I had to bring the account to a current status and once the payment posted I could call back the following business day to obtain a letter from Capital One explaining the miscommunication and issue. She assured me that they would not have a problem issuing the letter to me via email. I called the next day after receiving the letter which explained no issue, but was only a letter with a XXXX balance update. 

I called again on Monday, XX/XX/XXXX after noticing that the letter Capital One Sent was not sufficient and again was transferred to a few departments until I finally spoke to XXXX in the collections department. With her we noticed that both the phone and mailing address associated to the account was incorrect. I have no idea whose address or phone number that belonged to. I updated all of my contact information with her and she went to her managers to request a letter releasing me of the collection on my account. After being on hold for quite some time XXXX explained to me that there was a protocol to follow and that I had to submit a detailed explanation in writing to the dispute department at Capital One in XXXX XXXX XXXX Utah. After submitting that request a case would be opened and it would go under review. 

This process could take weeks or even months. My family and I are in the middle of refinancing our home and this has a huge negative effect on the entire process. This one glitch on my credit took my 800 score down to 615. I have to now come out of pocket {>= $1,000,000} to pay down the loan and my interest rate went up half a point. We called back a final time and spoke to yet another manager. We explained in detail the events aforementioned and all she could tell me was that this was a XXXX XXXX  issue not Capital One.

Company response to consumer: Closed with non-monetary relief