Consumer complaint received 2020-01-12
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: CAPITAL ONE FINANCIAL CORPORATION (NC)

Capitol-One " GM CARD '' MasterCard ( former ) customer ending in XXXX Subject : Formal Complaint and Dispute of ( now closed ) Late Fee and Interest, GM MasterCard Account Sir or Madam, I am formally registering a compliant regarding my recent experience with Capital-One ( CO ), and formally disputing the {$27.00} late fee and {$19.00} charged on XX/XX/XXXX, resulting in my cancellation of this approximately 30 year old account.

The payment due date for the month on my " GM '' card was XX/XX/XXXX ( CO instituted an arbitrary XXXX XXXX  cutoff time for phone and internet payments ( interestingly unlike ANY other financial product, or credit card, that accepts payments until XXXX of the due date -- this practice by CO is likely to extract more fees from consumers ) I phoned in to CO slightly BEFORE XXXX, XX/XX/XXXX, and their automated voice system would NOT accept my input, I subsequently spoke to a representative and paid my balance, IN FULL, by phone from my on-record bank at MINUTES after XXXX. 

I asked the representative on that payment call if I was going to be assessed a late fee for CO accepting my payment, in full, MINUTES after XXXX, and the rep said no, but to call back in a couple of days when/if late fees showed up. 

I called several days later, asking if there were any late fees assessed, and the representative said that no late charges were shown on my account. 

I received my paper bill from CO, showing a late charge of {$27.00} ( interestingly posted on XX/XX/XXXX, while TWO representatives stated there were no late charges shown on my account ) and interest of {$19.00} ( the monthly bill was paid IN FULL on XX/XX/XXXX ). 

I called CO on XX/XX/XXXX, inquiring why there were late fees and interest on my past bill, and requested these charges be removed. After a lengthy hold, twice, CO flatly refused to remove these charges, I informed the representative I would cancel the account immediately if these charges were not removed. I cancelled the account on XX/XX/XXXX on that same phonecall, due to CO not removing these charges ( after being a GM Card client for approximately 30 years, with a flawless payment history ). 

In another call, I further inquired why I was told twice by CO representatives that there were no late-charges my account, then they showed up on my bill, ON XX/XX/XXXX, the CO supervisor stated this must have been a " representative error ''. 

To summarize : My XX/XX/XXXX payment, PAID IN FULL, was MINUTES " late '' due to CO system not functioning properly. 
CO assessed a {$27.00} late-fee, and interest of {$19.00} on XX/XX/XXXX. 
CO told me, twice, that there were no late fees, and to call back to get the matter rectified. 
CO flatly refused to remove the late fee and interest, AFTER putting me on hold TWICE for an extended time. 
I closed the account due to CO 's erroneous, petty, and intransigent treatment of a 30-year client. 
I informed CO to never send me any marketing materials, nor contact me by any means after this matter is settled. 

Please be informed that I am formally disputing the {$27.00} late fee, and {$19.00} interest charge, and will deduct this amount from my next due FINAL PAYMENT to CO on this account ( I have paid the XX/XX/XXXX due bill, IN FULL, on XX/XX/XXXX ). 

I am filing formal complaints with the CFPB, and NC and UT State Attorney Generals ' office. 

I am also contacting GM Director of Marketing regarding CO 's treatment of their customers for their " incentive '' programs. In addition to no longer having a GM card after 30 years ( and two recent GM new vehicle purchases ), I will not do business with GM any longer as long as they patronize companies such as CO to " administer '' their incentive programs.

Further be informed, that if CO records ANY negative information on my credit history as a result of this matter, I will be contacting legal counsel for appropriate compensatory and punitive action.

Finally, I do not recall, in my 40 years of business and personal experience, a more petty, unscrupulous, illogical business transaction as with CO. CO apparently chooses to coerce customers ( even 30 year clients ) and extract rapacious petty junk fees ( notwithstanding resulting from Capitol One 's error in the first place ) versus retaining 30-year loyal customers. Best of luck with that brilliant and upstanding business " strategy '' -- Capitol One certainly epitomizes the negative reputation of banks.