Consumer complaint received 2024-10-23
Product: Credit card — General-purpose credit card or charge card
Issue: Getting a credit card — Application denied
Company: CAPITAL ONE FINANCIAL CORPORATION (IL)

On Sunday XX/XX/XXXX I applied for the Capitol One Venture X Card. I submitted documents that same evening via their Capitol One portal. I received a letter stating that they need additional information, and they sent the exact forms that they allow for authorizing a card. The letter stated I have until XX/XX/XXXX to submit the documents. I was not sure which documents did not suffice since I provided my State Issued ID front and back, Passport front and back, and my XXXX federal tax return, so I called their customer support line on XX/XX/XXXX to gain clarification. The agent was not sure why my account needed additional documents, but advised me that I should just upload another identification type form, and suggested a recent pay stub from my employer. He stated that should do the trick, and if I upload the documents before that XXXX date, I should have no issues. He stated my application looked perfect otherwise. That was a great compromise, and agreed to doing such. Not even 5 minutes after I got off the phone with the agent, I received a Declined Application notice from Capitol One. The reason was for not having the proper documents to verify my identification. I was very confused as to why they did not give me the allotted time of XX/XX/XXXX to provide the documents. I called the customer support line and tried to get in contact with the reconsideration line. I spoke with a first agent that told me all I can do is reapply, and that will be another hard hit on my credit. Or I could mail in a dispute complaint to reconsider that takes 90days. I then spoke with guest services manager XXXX and she understood my frustration about them not giving me the allotted time, but she said her hands are tied because they use a 3rd party to verify documents, and she is not able to contact them directly. What I found out in hindsight is that one of the specifications for a tax return is that it can not be a self prepared document. THAT is why I needed an additional document. BUT they did not give me but 3 days and already made their decision to deny me without allowing me time to gather my most recent pay stub for identification purposes as the agent suggested to rectify the issue. IF I write a dispute about my application, they will still deny it because they did not give me the ample time to promptly provide that pay stub for a verified document. They will only use the same information they have, and did not give me the grace time they demanded. That means my only option is to Re-apply, and have another hard hit on my credit report, and that is NOT fair as a consumer. Credit ratings are very important, and it is not right to make me re-apply with another hit 3 days after I submitted my first application. This is very disappointing and not consumer friendly. I was promised that XX/XX/XXXX date to provide that document, and planned on uploading it right after I received that denial letter. I went into work on my day off specifically to gather that pay stub, and provide them with the exact documents they need. I was being proactive and communicating with Capitol one directly to resolve and clarify the issue. Having them close my application process without allowing the time they promised me is not a good way to do business with their customers. Also having them tell me that to redo the process I will need to have another hard pull on all XXXX of my credit reports. This is not good ethics for Capitol one to make the decision hastily without allowing the timeframe they demanded in the first place.