Consumer complaint received 2017-07-07
Company: CAPITAL ONE FINANCIAL CORPORATION
State: NY
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Can't close your account

Complaint:
In late XX/XX/XXXX, I was online looking at all three of my credit card accounts with capital one and discovered that the interest rates on all three of them had been raised to the following .15.74 % 30.15 % and 23.65 % ..I immediately called to close all three accounts. I was told that one of my accounts could not be closed since there was a cease and desist placed on the account. When I ask how and why it was placed on the account I was told that I, the account holder, was the only person that could have place the order. I assured the representative that I did not place such an order and ask what it meant. She explained that it meant no one could call and talk to me about my account. I chuckled and responded why would I ever not want you guys to call me about my scout that is ridiculous Again I assure the representative that I have never placed such an order. She went on to say that she was unable to remove it in her department, and transferred me. I was transferred three more times after that attempted to reach the correct department to remove this from my account. A week later I called again about this account just to check and make sure it was closed and the cease and desist was removed. I was told the account had been closed but the cease and desist had not. I comment to the representative that this was strange because I had been told last week that the account could not be with the cease and desist in place. I requested to speak with a manger and was transferred again, twice. When the manager came to the line I was assured that she would and did take care of it, however I was never given an explanation as to how it was placed on the account nor why I was told I could not close the account unless it was removed. She again assure me that the cease and desist had been taken care of. A couple of days afterwards I decided to port the balances of these cards to another company with greatly improved rates. I was called by the new company and told they were unable to port the balance of one of my three cards because of a cease and desist order. Again I called capital one. This time I did conference call with myself, a representative from the company I was porting to, XXXX, as well as Capital one representative, XXXX. After an introduction of everyone and an explanation by myself of why we were calling, XXXX fr Capital One stated that she could see the notes from my past calls but she also did not see any cease and desist notice and invited XXXX to resend the request to port over the balance from the card to XXXX. XX/XX/XXXX I received a call from XXXX at the new company stating that again the attempt to get the balance ported to them was refused by Capital one due to a cease and desist order. XX/XX/XXXX I called Capital One after being transferred twice Once to a department to handled XXXX I finally requested the executive office. I spoke with XXXX XXXX -Agent XXXX. I went over all of the above history and concluded with my request to have the cease and desist moved from my acct. XXXX XXXX told me she would have to assign a case worker to me and that it would take 3-4 days for them to contact me. I ask XXXX XXXX if there was any reason that she could not remove this cease and desist, she never gave me an answer only insisted that she could only assign a case worker. <P/>I have never experience such a circus show with in a place of business. Also I thought a company had to honor the interest rate when you signed the contract. I also thought an interest rate of XXXX % was more like loan shark and illegal. <P/>I need the cease and desist removed from my account and the new company to be allowed to port the balance over. <P/>XXXX XXXX XXXX XXXXXXXXXXXX

Company response to consumer: Closed with explanation