Consumer complaint received 2017-06-29
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CT
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:
Capital One Bank ( USA ), N.A was grossly negligent in XX/XX/XXXX with following the Federal Statue of The Credit Card Accountability Responsibility and Disclosure Act of XX/XX/XXXX ( " Credit Card Act of XX/XX/XXXX'' ) and has caused harm to me. Capitol One Violated Public Law 111-24, SEC.  150 of The Credit Card Act of XX/XX/XXXX which states : " A card issuer may not open any credit card account for any consumer under an open end consumer credit plan, OR increase any credit limit applicable to such an account unless the card issuer considers the ability of the consumer to make required payments under the terms of such account. '' In XX/XX/XXXX my Capitol One credit card had a credit limit of {$500.00}, on XX/XX/XXXX Capitol One had increased the credit limit of XXXX ( APR 29.40 % ). The extension of with no request from me was 11 times greater than the original limit which was maintained since XX/XX/XXXX. Capital One gave no consideration to my ability to make payments and by doing so violated the federal statute. During XX/XX/XXXX my income was {$6700.00}, in XX/XX/XXXX my income was {$5500.00} and in XXXX it was {$2700.00}. During this time I received public assistance in the form of the SNAP program, fuel assistance and at times was involved in the " Jobs First '' program. <P/>In XX/XX/XXXX I questioned the validity of this account but was told it was too late to file a complaint. After having trouble making a much higher monthly payment I did as Capital One promotes on each statement, " We 're just a phone call away to HELP you, we have solutions. '' So after speaking with a Capital One agent I began and made consistent agreed upon payments of {$220.00} from XX/XX/XXXX through XX/XX/XXXX, This effort to pay off this debt NEVER touched the balance on this account with an interest rate of 29.40 % how was it ever, after 7 months of payments I stopped as Capitol One had no solutions to work with me on getting out of this vortex of XXXX. This account is pulling down my credit score because Capitol One practiced sub-prime predatory lending. I believe this should be nulled as Capitol One engaged in fraudulent and illegal actions under the Credit Card Act of XX/XX/XXXX. It was not legal for them to increase my credit limit 1 % let alone 11 % in one billing cycle. SEC 150 " Ability to pay '' of the Credit Card Act was established to prevent situations like this from happening. Capitol One disregarded the Ferderal Statute in accordance with public law and has nulled any claim against me. This Capital One is too large for me to fight and they have an unequal advantage I am requesting the CFPB help me. <P/>I do not have the means to sue Capital One but they hired a lawyer to sue me, and I responded with basically what I wrote here to you and all my XXXX 's and social service paperwork and credit report. Thier lawyer withdrew the case after I submitted my answer to the court and asked for a counterclaim. Capitol One broke the law, and should be held accountable! I will provide documentation but I have to mail it or fax it.

Company response to consumer: Closed with explanation