Consumer complaint received 2023-08-01
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: CAPITAL ONE FINANCIAL CORPORATION (CT)

I am writing to file a formal complaint against Capital One regarding their unfair handling of a disputed transaction and their consumer-hostile fraud investigations, which are adversely affecting consumers like me. The incident in question occurred on XX/XX/2023, when I was charged three times for the same purchase by the vendor XXXX  while on vacation in XXXX. 

Upon noticing the discrepancy on my Capital One account, I immediately contacted their customer service to initiate a dispute for the unauthorized charges. After an initial investigation, Capital One credited my account for the disputed amount of {$60.00}. However, despite clear evidence supporting my claim, Capital One has unfairly declined to investigate further, asserting that the merchant provided information supporting the transactions. 

During my attempts to resolve the matter in person with the XXXX merchant, I discovered that the error was due to the employee 's mishandling of the transaction on their handheld card terminal. Despite my efforts, the employee expressed a lack of knowledge and inability to reverse the erroneous charges on the spot, which further validates the legitimacy of my dispute. 

Capital One 's refusal to continue the investigation and their insistence on reapplying the charge to my account without just cause has left me significantly disadvantaged as a consumer. The unfair treatment in this matter reflects poorly on their commitment to protecting their customers and resolving disputes in a fair and transparent manner. 

Furthermore, I must bring to your attention the issue of Capital One 's hyper conservative fraud investigations. While it is essential for financial institutions to maintain secure practices, their anti-consumer approach is harming consumers. Capital One 's measures have resulted in the denial of genuine disputes like mine, where there is clear evidence of an error made by the vendor. I provided detailed statements showing the vendor charged me XXXX XXXX  once, XXXX a second time and then XXXX XXXX  the third time. I highlighted and showed Capital how its evident the merchant submitted a second charge for the same purchase but missing a zero and then charged the difference when charging me XXXX XXXX. While this amount is not material in the grand scheme I'm worried Capital One is unfairly pushing these mistakes on consumers. Other credit card companies offer seamless dispute investigations, online document processes, and direct phone lines to discuss disputes ; instead Capital One purposefully chooses consumer-hostile methods which serve no purpose other than discouraging consumers from pursuing remedies further. I had to find time to find a working fax machine to dispute their initial decline notice. 

This hyper conservative approach not only leads to wrongful denials of legitimate claims but also creates a sense of frustration and helplessness for customers who expect their financial institution to protect their interests. It undermines the trust consumers place in their credit card company, and in turn, affects our financial well-being and peace of mind.