Consumer complaint received 2024-05-10
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: CAPITAL ONE FINANCIAL CORPORATION (PA)

On XX/XX/XXXX I went online to make a large payment on my Capital One credit card. I used my XXXX account that had more than enough money in it to make the payment. I noticed after two days that the money was never removed from the account, so I looked at capital one and it says the payment was returned or denied. I then paid the entire balance off on BOTH of my capital one accounts through my personal checking account. I have been using these cards to build credit for a mortgage. When I went to my account today to verify that both accounts were at a XXXXXXXX XXXX  my accounts were closed. Immediately I panicked and called Capital one to find out what happened. I was informed by customer service that my accounts had been closed due to a returned payment and that it was their company policy. I asked them why the payment was returned in the first place and the woman could not answer my questions. She only kept reading the disclosure that indicated that capital one had the right to close my account if there was a returned payment. I asked for the call to be escalated to management. At this time I was connected to a supervisor who basically told me the same information to which I explained to her that I have never had a missed payment, I have never had a late payment and every month for a year or more I paid a payment every two weeks usually double to triple what the amount due was owed, if there was ever an instance of a returned payment it was not due to any type of insufficient funds rather than a denial by capital one or by my account believing it was fraudulent activity. She informed me that it didnt matter the reason for the return, that if a payment is returned they can close my account. I became very irate and asked to speak to someone else who could help me in this matter because to me this seemed to be very shady business practices. I had never received any form of notice that my account was in danger. I had never received a phone call or letter about a returned payment or a returned payment policy being enacted. I simply paid off my balance, and my account was closed down. without my knowledge. Throughout this conversation, with both representatives, I was encouraged that my account was closed in good standing by Capital One because of a returned payment, but I could absolutely go online and apply for two new accounts and be approved. I DO NOT WANT NEW ACCOUNTS. I was building credit and credit history for a loan. 
My call was then sent to the fraud department who told me that I had multiple returned payments, 4 to be exact over the course of 6 months and that is why it closed. All of these returns were on a separate capital one card and when I looked into them they were not returned due to insufficient funds either. They were either denied by Capital One or denied by my bank account due to suspicion of fraud. The code used on one of the payments from XXXX was the same code used for my payment XX/XX/XXXX and when I asked the representative why it had that code, he told me that Capital one suspected something was wrong with the payment so it was returned. I am confused as to why they would flag a PAYMENT as fraud and block it, but never a charge. 
He explained that since all of those payments did not go through, they had the right to close my accounts. I asked him why I was never contacted by capital one about any of this and his response was- well didn't you receive an app notification? To which I explained that I did not. However, I check my Capital One account often, and I can show on there that every time they returned my payment, I immediately made another payment from a different bank account of the original amount I had sent or more. Once I paid double, and another time I paid quadruple, and then paid off the entire balance a week later. I asked the representative if this is how Capital One treats faithful customers who pay their bills early, have never been late and have always paid more than the amount due and he again told me that I could always apply for another card if I would want another account with them. I let him know that I would be reporting this, and I had him file a formal complaint with Capital One as well. 
I believe that Capital One is playing a dirty game of blocking and returning payments in order to charge people more fees, shut down accounts of good-paying customers as well and then try to bully them into opening brand new accounts rather than helping them with the ones they already have. 
They don't want faithful customers who pay their bills early. It doesn't bring in the high profits that bad customers bring in. 
Again, I was NEVER notified by this company that there was any form of issues with my account. I paid my bills early and above the minimum payment due every month. I was a faithful customer and my account was closed without my knowledge only to be told that I can reapply if I would like. Capital One is a dirty company.