Consumer complaint received 2024-07-15 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Charged too much interest
Company: CAPITAL ONE FINANCIAL CORPORATION
State: PA

Complaint narrative:
I reached out to Capital One regarding an increase in interest charges on my account. I called them today, XX/XX/year>, at XXXXXXXX XXXX  to discuss this with them. My interest charges went up in price this month, even though the only activity on account was a {$15.00} XXXX XXXX membership I. Last 45 days roughly. I paid almost double my minimum balance on last statement. The balance of the account went down. However the interest charges were more expensive compared to the prior statements balance/interest. It shows I owed more money than I did this statement, but somehow owe more interest on top. Their interest calculations are based on the daily balance. This statement shows a lower balance than prior statement. However the interest charge was more when it should have gone down. First I spoke to what sounded like an out sourced customer service agent who tried to claim it was because of the {$15.00} XXXX charge. That did not make sense and again, the numbers dont show thats the reason. I asked to speak to a supervisor. I got XXXX in XXXX ( Employee ID XXXX ). She explained it was based on the daily balance of account. When I again went through the numbers with her based on the totals they charged interest on, the only recent charge on account, and the increase in payment, their numbers did add up. They refused to basically show their math on how they got to that equation. They said the calculations are on back of statement. I said we have discussed the calculation 100 times but your numbers dont add up. She refused to show me anything, refused to have it reviewed, refuse to send me any email or letter saying they refuse and made mention that their lawyers have control and they are not accountants. So basically bank in charge of managing my money saying they have no one to go through the numbers. Im simply asking them to show me how they came to that conclusion considering the glaring numbers that do not add up. I have had this issue with them in past. I need a full breakdown and someone willing to explain to me how owing them less money equates to more interest. They did confirm my rate did not change. That being said, given this issue, past issues with same problem and their lack of willingness to discuss things with me, ( I also hold a checking, savings and child bank account with them so I am a full fledged customer ), I now feel like that not only this current statement, but my entire account needs to be reviewed. I feel this is big banking at its finest, taking advantage of consumers and will only do something when forced to or caught. In typical American corporation fashion, I was shamed for even dare asking or questioning because the idea that a billion dollar company in America could ever be wrong, make a mistake or be deceiving is just unheard of to them. I am only submitting my most recent statement and prior statement. Again I need whole account reviewed and can provide more or anything that is asked. need your help.

Company response to consumer: Closed with explanation