Consumer complaint received 2021-02-07
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TX
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
I applied for a Capital One XXXX  Business card around the middle of XX/XX/2020. On XX/XX/2020 a representative from Capital One called me to verify some information. During that call I had many questions about the account, most centered around how the account would be reported. I spoke with a man, I regret that I did not make note of his name. He advised me that the account would report to the business credit reports, I recall him saying XXXX XXXX XXXX as well as the XXXX XXXX XXXX XXXX ( XXXX ). 

Recently, I received a notification from XXXX XXXX that a new account was opened in my name. Upon reviewing my credit reports at all three credit bureaus, I realized the new account reporting was the Capital One XXXX Business account that was opened on XX/XX/2020. I immediately contacted Capital One and the first individual I spoke with said that Capital One was required by law to report the account on my personal credit report. When I asked what law this was because I have another business card with XXXX XXXX and also one through my employer and neither report to my personal account, the individual said the law applied only to Capital One. Again, I asked that person to provide me the name of this law because any law that applies to banking is most likely a federal law and it would not apply to just one organization. That person was not able to provide me with the name of the law. I asked to speak with a supervisor and instead of connecting me with the supervisor, that person transferred me back into the call queue and I had to begin the process all over again. 

The second person I spoke with more or less read from the same script as did the other person I had previously spoken with. He was not able to provide me with the name of the law but said each law applied differently to banking organizations but he was sure that this unnamed law required Capital One to report to my personal credit report. When I advised him that this was not what I was told on XX/XX/XXXX and that the person I spoke with prior to opening the account advised me the account would only report to the business account, he said " well all I can do is close the account, I have no other way of helping you. '' That seemed fairly ridiculous that at this point the only remedy you have is to close the account instead of holding your employee accountable to what I was advised. At any rate, I again asked to speak with a supervisor and this time I was connected to " XXXX. '' I am not sure this is the correct spelling of her name. If it is not, I apologize. It is never my intent to mess up someone's name. 

I restated the situation to XXXX  and she too said there was a law that required Capital One to report to my personal credit report. When I again advised her that this is not the case with two other cards that I hold. She said it was the Fair Credit Reporting Act. Upon search of that act while on the phone with her, I was not able to find any line that states Capital One must report business credit accounts to an individual 's personal credit report. I was not able to find any line that even includes the words " Capital One. '' It appears I was given some incorrect information. I asked to speak to a supervisor and as usual, I was told there was nobody higher than XXXX XXXXhat I could speak with.

Company response to consumer: Closed with explanation