Consumer complaint received 2020-04-19
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MA
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 have 5 accounts with Cap One. Two credit cards, personal and business, checking, money market and a {$100000.00} CD. I have been a customer over 10 years. I have put over a million dollars through your bank without so much as one late payment. Recently my business credit card was suspended without any notice. When I called to find out what the issue was it took hours on the phone and numerous times being accidentally disconnected and transferred from person to person. Finally I got an explanation that somewhere, somehow, it was determined that my business was an LLC and not a sole proprietorship as it had been when the card was opened. My business has always been an XXXX and was transferred to an XXXX XXXX several years ago. For this reason my entire business has been disrupted. All orders I need to make I can not make. I am providing produce, fruit, vegetables to the community for free as well as fulfilling my daily fruit orders. All my vendors and corporate fulfillment companies have this credit card on file as it's the only one I have for corporate spending. Your bank has created an immediate halt on my company and my ability to make orders. 
I was instructed to re-apply for a new card. I reviewed what you offer and now I see that all the cards have changed and the interest rates are 12-16 % higher than the card Ive had for over a decade. My points were confiscated as well. Luckily I had transferred most jut a week or so earlier. 

Additionally, in the past 3 months I have twice had Cap One add users to my card even though I have 2 levels of security on my cards and an an alert that says that there are never to be new users to my account. Most recently 4 new users were added and cards mailed to the XXXX. Fortunately I was able to stop the cards before they were used. I was lucky to have checked spam mail that day to find the emails from Cap One letting me know the users had been added. When I called in to ask why this had been done again with all the security I had in place, the answer was we do not know. It says clearly that no new users were allowed. That's the answer I got. 
All in all Cap One has created a nightmare for me and for someone who has 5 accounts and been a member for decades the treatment and lack of caring for the mess is unbelievable. Now I have moved all the money from the money market, and checking. Today I find that there are fraudulent charges on my personal card so that I can not cancel yet. 

On a last note, by deleting the $ XXXX credit line on my business card you will substantially decrease my credit score. 

I would like to speak with someone of authority in the corporate office as soon as possible to see if there is any way to rectify this complete nightmare. I do not have time nor can I wait 2 weeks to open and receive a new corporate credit card. I will also look into what governing body I can send my complaint to about your bank. 

XXXX XXXX XXXX

Company response to consumer: Closed with explanation