Consumer complaint received 2017-05-23
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MA
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:
I am seeking to file a complaint agains t Capital One Credit Card Company  for fraudulent practices.   For the past  three years, I have attempted to get my Capital One Cre dit Card Accounts credit reporting correctly to the credit bureaus but to no avail. In  XX/XX/XXXX  Capital One acquired    XXXX   XXXX    and during the acquisition I already had a Cap ital One ca rd and a  XXXX  card. I have been a Capital  One  cardholder for many years and have always enjoyed a low interest rate of 9.9 % on my card, due to my good credit, until the acquisition and when I attempted to close my  XXXX  card.    On    XX/XX/XXXX   ,  I called  XXXX   XXXX  to close my account after receiving notice the  Capital One would now acquire them. There was no need for me to have   XXXX   Capital One ac counts. I made the payment for the final amount due on my card and received confirmation of payment and was assured the account would be close after the payment cleared. To my dismay, they did not close the account. I continued to receive my regular bills from my original Capital  One acc ount which I paid on-time and I never received any further correspondence from  XXXX  bank. Around   XX/XX/XXXX  , I ran a credit report to apply for a car loan, at this point the credit report showe I ha d three late payments to Capital One in    XX/XX/XXXX ,  XX/XX/XXXX , and  XX/XX/XXXX . The credit report show ed that I had    XXXX    Capital One accounts and not  XXXX .  I called  Capital One immediately to clear up the error and had them close   XXXX   of the Capital One Accounts and explained the situation. I was told by the customer service representative that I should  dispute the error with the Credit Bureaus and it would be adjusted there. Never once did I receive    XXXX   bills from Capital One. Never once was I  notified that  XXXX  did not close my account. I disputed the error and received a generic letter saying the account was disputed and we believe that our determination was correct. No one fro  m Capital One called me to check on anything. There was no way they could have researched without knowing the details.
I have made numerous phone calls to Capital One tryi  ng to get the errors removed from my credit card to no avail. Today,      XX/XX/XXXX    the account is still listed incorrectly on my credit report. You must be making quite a tidy profit off this practice : customer calls in to close account, you dont close the account and as a result have their credit report negatively so you can then take their rate up to triple what it was.     Today I called once more and spoke with  XXXX   XXXX  to request that the account be reviewed and the delinquent items be removed from my credit report. Again, I got the run around.  XXXX  suggested that I get an attorney if I feel that this was truly fraudulent. Under the fair debt collection act, it is fraudulent. I have begun to see a   XXXX   over the severe amount of   XXXX   and financial challenges I have had to incur the last 3 years because of this negative situation. Now I can see why th e CEO of Capital One ,  XXXX   XXXX , has made close  to 500 million  dollars over the pa st five years. Im appalled at the transparent and aggressive tactics used by Capital One, to gene rate revenue and profits, at the expense of so many loyal customers.   My goal is simply to get the above-mentioned errors removed from my credit Aft er five years of having this card, this is too much. After watching some of the hearings in Washington against banks and credit card companies charging excessive fees to their customers, I felt compelled to finally express my frustration for the hard-working tax payers of this country and to ask Capital Ones CEO ,  XXXX   XXXX  to stop abusing your customers.

Company response to consumer: Closed with explanation