Consumer complaint received 2024-10-05
Product: Credit card — General-purpose credit card or charge card
Issue: Getting a credit card — Application denied
Company: CAPITAL ONE FINANCIAL CORPORATION (VA)

I applied for a Capital One Quicksilver credit card on XX/XX/year> but they denied my application. According to the 12 CFR Part 1026 ( Regulation Z ) 1. In general. An application means the submission of a consumer 's financial information for purposes of obtaining an extension of credit. For transactions subject to 1026.19 ( e ), ( f ), or ( g ) of this part, the term consists of the consumer 's name, the consumer 's income, the consumer 's social security number to obtain a credit report, the property address, an estimate of the value of the property, and the mortgage loan amount sought. This definition does not prevent a creditor from collecting whatever additional information it deems necessary in connection with the request for the extension of credit. However, once a creditor has received these XXXX pieces of information, it has an application for purposes of the requirements of Regulation Z. A submission may be in written or electronic format and includes a written record of an oral application. The following examples for a transaction subject to 1026.19 ( e ), ( f ). I was denied an credit card application according to the definition in the CFR Part 1026.In the Adverse Action letter it states that this is not a credit card application but then goes to say the exact opposite in regards to the reason for the denial of credit. 
" The reasons for denying my application was based on my application information, there are too many delinquent past or present Capital One Credit obligations and they observed activity on a prior Capital One Account that is not consistent with their expectations for account usage or the terms of the account agreement. This is due to Capital One furnishing inaccurate information on my account ( evidence attached document ). On the second page of the adverse letter in goes into detail about the EQUAL CREDIT OPPORTUNITY ACT prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age ( provided the applicant has the capacity to enter into a binding contract ) ; because all or part of the applicant 's incomes derives from any public assistance program ; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. '' The use of credit was used in good faith. So why is it that Capital One continues to discriminate against me? In addition, How could I be denied credit if it is considered a right? According to 15 U.S. Code 1602 ( f ) - Definitions and rules of construction The term credit means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment. I have a right to have credit because it was used in good faith. According to 15 U.S. Code 1691a ( 3 ) - Scope of prohibition It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction- ( 3 ) because the applicant has in good faith exercised any right under this chapter. I exercised my right in good faith but CapitalOne continues to violate me. In Addition, CapitalOne continues to violate my rights by continuing to report inaccurate information on my XXXX credit report even though both Capital One accounts were deleted from XXXX on XX/XX/year>. Evidence of deletion. ( attached document ). Not only that but a contract was sent to Capital One on XX/XX/year> informing them of the inaccurate information on my consumer report but they have yet to fix the issue. For instance according to 15 U.S. Code 1681a - Definitions ; rules of construction ( a ) ( d ) ( 2 ) ( 2 ) Exclusions.Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; CapitalOne is reporting information that is solely based on transaction and experiences and according the the USC this should be excluded from your consumers report. Ultimately, this has caused a great deal of turmoil in my life and I should be compensated for this. According to the 15 U.S. Code 1691e - Civil liability ( a ) Individual or class action for actual damages Any creditor who fails to comply with any requirement imposed under this subchapter shall be liable to the aggrieved applicant for any actual damages sustained by such applicant acting either in an individual capacity or as a member of a class. ( b ) Recovery of punitive damages in individual and class action for actual damages ; exemptions ; maximum amount of punitive damages in individual actions ; limitation on total recovery in class actions ; factors determining amount of award Any creditor, other than a government or governmental subdivision or agency, who fails to comply with any requirement imposed under this subchapter shall be liable to the aggrieved applicant for punitive damages in an amount not greater than {$10000.00}, in addition to any actual damages provided in subsection ( a ), except that in the case of a class action the total recovery under this subsection shall not exceed the lesser of {$500000.00} or XXXX per centum of the net worth of the creditor. In determining the amount of such damages in any action, the court shall consider, among other relevant factors, the amount of any actual damages awarded, the frequency and persistence of failures of compliance by the creditor, the resources of the creditor, the number of persons adversely affected, and the extent to which the creditors failure of compliance was intentional. I have tried numerous times to fix this situation but you refuse to correct your mistakes. So I have to be compensated due to your negligence.