Consumer complaint received 2024-01-28
Product: Credit card — General-purpose credit card or charge card
Issue: Problem when making payments — Problem during payment process
Company: CAPITAL ONE FINANCIAL CORPORATION (NC)

In light of recent events withmy Capital One credit card, I feel that I'm being penalized, targeted and retaliated against by Capital One for making multiplepayments on my credit card account during a billing cycle. I recently made a payment to my Capital One credit card which paid off the entire balance atthat time, and Capital One has placed a 26 day hold on that payment for " pending verification of funds. '' Now here 's the interesting part of this, I used funds in my Capital One checking account by using my debit card, to make this payment, which is allowed on their main website and through their mobile app. By placing a 26 day hold on this payment, Capital One is deliberately not giving me access to my available credit for an entire billing cycle!! In Capital One 's own words from their Credit Card Terms & Agreement on page XXXX Capital One indicates " we may delay the availability of credit until we confirm that your payment has cleared. '' And in a most recent email communication directed to me from Capital One, " if you make a payment now, it often will be reflected immediately, but can sometimes take XXXX days. '' During the last 30 days, I have made XXXX payments to this Capital One credit card, and XXXX out of the XXXX payments I was allowed the immediate usage of the available credit, after the respective payment was made. The XXXX payment took only XXXX hours to reconcile on the account, in order to give me usage of the available credit. This XXXX payment on XX/XX/XXXX, I used funds from my Capital One checking account, which I had used previously this month for payments on this account XX/XX/XXXX and XX/XX/XXXX, and received immediate usage of the available credit, after the payments were applied. It was the payment on XXXX, using funds in my Capital One checking account via debit card payment, that Capital One decided to place a 26 day hold on this payment for " verification '' and thus not give me usage of the available credit for 26 days, thus an entire billing cycle.The payment in question of {$440.00} was made using Capital One Bank funds on XX/XX/XXXX and cleared with Capital One Bank on XX/XX/XXXX. 
Since XX/XX/XXXX, I have had multiple conversations with Capital One employees, more specifically XXXX, XXXX, XXXX, and XXXX. Of the aforementioned individuals, XXXX was the only employee that expressed any type of empathy in my situation. You see, I'm on social security XXXX, and this is definitely an undue hardship that Capital One has forced me into, to the point that I feel I'm being maliciously penalized, targeted and retaliated against because I've made multiple payments on my account in a billing cycle. I do realize that Capital One 's credit card terms and agreement give them the right to ensure any payment has " cleared. '' What I'm not understanding is that it takes Capital One 26 days to verify funds in a checking account that they own. Now, based on my 30 years experience in the accounting and banking industries, before my XXXX, I think that there is something nefarious at play here. Also, I think Capital One needs to update their Credit Card Terms and Agreement to reflect more specificity and less ambiguity regarding payment processing, thus providing verbiage to the effect of " it may take up to 26 days for us, Capital One, to verify that a particular payment has cleared. ''