Consumer complaint received 2022-09-13
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with rewards from credit card
Company: CAPITAL ONE FINANCIAL CORPORATION (PA)

Complaint summary : Prior to XX/XX/XXXX, the bank affiliated with my XXXX XXXX XXXX XXXX XXXX XXXX ) credit card was XXXX Bank. As per the terms of the credit card agreement associated with XXXX Bank, I was able to earn rewards credit ( XXXX ) with the use of my XXXX. The more I used my XXXX to make purchases, the more XXXX I accrued. Naturally, I was incentivized to use my XXXXXXXX XXXX  card so as to maximize my XXXX. XXXX Bank reported the XXXX I accrued during each billing cycle on my monthly statement and at the end of each calendar year, I was apprised of the total dollar amount I was due in XXXX. Under the terms of the credit card agreement with XXXX Bank, I was given the option of requesting that my XXXX be issued in the form of a check. This option was in lieu of using the XXXX at XXXXXXXX XXXX, the outdoor gear retailer. As my preference was to receive cash as opposed to store credit, I typically requested that XXXX issue a check in my name for the total amount of my earned XXXX. That check was ordinarily issued in XXXX. 

At some point in XXXX ( I believe in XXXX ), I received notice that XXXX Bank would no longer be associated with my XXXXXXXX XXXX XXXXXXXX and that Capital One would be assuming that role. Specifically, I received correspondence from Capital One stating that : " On XX/XX/XXXX, your XXXX XXXX XXXXXXXX will transfer to Capital One. You can enroll in your new Capital One online digital experience and set up future payments with Capital One starting XX/XX/XXXX. '' This correspondence included " Important dates to note '' -- with associated card holder directives --, but no changes to the rewards credit program with Capital One were enumerated at this time. 

Subsequent to the receipt of this initial communication, I received a more detailed communication from Capital One. Specifically, that correspondence restated that on XX/XX/XXXX, the bank that issued my XXXX XXXX XXXX was changing to Capital One. However, this correspondence included additional details associated with my " new '' credit card, including the provision that " As part of the new XXXXXXXX XXXX XXXXXXXX XXXX program, card members are no longer able to receive XXXXXXXX XXXX XXXXXXXXXXXX XXXX via cash or check. You have through XX/XX/XXXX to request a check for your available rewards ... After XX/XX/XXXX, you can enjoy using your rewards for all the things you love at XXXX XXXX  '' It is my recollection that I set up my new online account with Capital One on or around XX/XX/XXXX as directed. It is also my recollection that during the process of setting up my new online account, I became aware of the change to the XXXX XXXX XXXX XXXX program policy noted above and called a Capital One representative to discuss my concerns about the status of my pending XXXX. During that conversation, the Capital One representative informed me that I had accrued {$400.00} in XXXX since XX/XX/XXXX, but since I had not requested a check for the same by the XX/XX/XXXX deadline, I could only use the XXXX for purchases at an XXXX store or at XXXX. At that point, I asked to be transferred to a manager to discuss the matter further and I did, in fact, speak with " XXXX, '' a Capital One senior account supervisor. Unfortunately, XXXX merely informed me that beyond the XX/XX/XXXX deadline, Capital One 's policy was to honor accrued XXXX for use at XXXX or XXXX ONLY. 

Basis for my complaint : As of XX/XX/XXXX, my XXXX totaled {$430.00}. Most, if not all, of this credit was earned prior to the time Capital One became associated with my XXXX XXXX XXXXXXXX on XX/XX/XXXX, and prior to the time that Capital One changed the rewards program I enjoyed under US Bank. I opted to use my XXXXXXXX XXXX  XXXX almost exclusively for credit card purchases I made between XX/XX/XXXX, and XX/XX/XXXX, because of the established policy under XXXX Bank that I could elect to use my XXXX for a check payment in lieu of of XXXX store credit. It is absolutely unconscionable that Capital One chose to change its rewards program in such a way that XXXX already earned by me, and other XXXXXXXX XXXX XXXXXXXX holders similarly situated, was materially impacted by Capital One 's brand new affiliation with my XXXXXXXX XXXX XXXXXXXX on XX/XX/XXXX. Needless to say, an ethical, customer-centric approach would have been for Capital One to make its policy change impact XXXX earned on or after XX/XX/XXXX, the day Capital One took the reins from XXXX Bank XXXX This approach is the single obvious fair play approach, but Capital One clearly opted to take a lesser, unsavory path.