Consumer complaint received 2016-09-23
Company: CAPITAL ONE FINANCIAL CORPORATION
State: OH
Product: Credit card
Issue: Closing/Cancelling account

Complaint:
On XX/XX/2016, Capital One Bank decided to bank force close my credit card with them without prior notice, written or otherwise ; not even a phone call. I became aware of this only when I called Capital One that day to inquire about when my new due date will take effect being I submitted a change request about two weeks prior. After I validated my information on their IVR, the system notified me that my account was closed, I was surprised about this and figured it was an error. When I reached an agent, he advised me that the bank closed my credit card because of First Party Fraud! Again, I was surprised, and at this moment astonished and asked what the agent meant by that, he said because I had returned payments, it was Fraud and the bank closed my account! I have had XXXX returns due to a mistake of mine on transferring funds between accounts or not selecting the right DDA for ACH Collections, an honest mistake. Since the most recent declined payment, I decided to switch back to ACH Payments via my bank ( XXXX ) to avoid returns and me being charged NSF fees via my deposit accounts. On XXXX/XXXX/16, I submitted a {$550.00} ACH Payment/BillPay via my bank, which would leave me with a credit balance on my credit card. Astonishingly, and coincidentally, the day my payment was transmitted and received by Capital One, they bank force closed my account with no notice of any kind, this harmed me financially even to this day XX/XX/2016, a week later because as a responsible adult I paid all of my bills and relied upon my credit card for fuel to get to work, food, etc. My best friend is wiring me money so I can buy food, and gas so I can go to work and my doctors office. Capital One indicated this is a new policy of their cardmember agreement to close risky accounts, which no notifications, agreements, disclosures, nothing was sent to me via any medium. A midteir manager submitted a " XXXX paragraph case '' on my behalf to reopen the account however, the 48 hour service level agreement wasnt kept and that manager is n't in the office from Wednesday to today, thus apparently the ONLY person that can review my case and advise me of the final determination. The bank is purposely bouncing me around to person to person and refusing to give me clear, consistent information about the new policy or my appeal and it 's been five business days ; I believe this is because I 've threatened to file a CFPB Complaint, they get very ambiguous at that point. The manager that even submitted my appeal in my defense to reopen my account even asked me to hold off on the CFPB and Executive Complaint fillings, but I could still file them if I really wanted too .... They know their in the wrong and are dragging their feet. Did I mention that I 'm a pay in full customer? So how I 'm a risky customer other than the fact they are n't making " money '' off of me is beyond me. I 've missed two days of work this week because of this situation and it 's still not resolved in the fact of my account being reopened or even a call back when they promise ; oh and their holding my {$130.00} credit balance and {$240.00} security deposit hostage for 30 - 60 days they say should my account stay closed ... XXXX Practices like this should be investigated and prohibited per unethical and harms people that relies upon the bank for survival. 

Lastly, should the bank indicate my point of view is inaccurate, every phone call with the bank has been recorded and I can provide a copy upon request.

Company response to consumer: Closed with explanation