Consumer complaint received 2026-04-19 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: CAPITAL ONE FINANCIAL CORPORATION
State: PA

Complaint narrative:
b'Dear Office of the Consumer Finance, \nI am submitting a formal complaint regarding Capital One for a secured credit card application that involved a XXXX deposit. My complaint centers on misrepresentation by a representative and an unreasonable delay in returning my funds after I promptly cancelled the application.\nOn the day I applied, I was explicitly informed by a Capital One representative that my XXXX deposit would be available for immediate use upon approval. Relying on this information, I proceeded with the application and submitted the deposit.\nLater that same day, after opening the account, I contacted Capital One to ask how I could access my card virtually. During that conversation, I was told that I would not be able to access or use the funds immediately, which directly contradicted the information I had been given earlier.\nI have talked to representatives and supervisors by following up with phone conversations to rectify the situation to no avail.\n\nBecause of this discrepancy and the misleading information, I cancelled my application the same day it was openedwithin minutes of confirming the correct terms. At that time, I was informed that despite the immediate cancellation, my XXXX deposit would be held for approximately two billing cycles plus an additional 14 days before being refunded.\nThis delay was never disclosed prior to submitting my deposit and represents a significant and unfair burden, especially given that my decision to proceed was based on inaccurate information provided by Capital One.\nTimeline of Events:\nApplied for secured credit card and submitted XXXX deposit based on representation of immediate fund availability\nContacted Capital One later the same day to inquire about virtual access\nLearned funds were not immediately accessible, contradicting prior information\nCancelled application the same day\nInformed refund would take approximately 2 billing Cycles +14 days from several capital one representatives\nOn XXXX XXXX XXXX I was informed by a supervisor at Capital One that an email address was unavailable for Capital One credit \nI spoke to a representative named XXXX badge number XXXX about an available email address to send a formal letter of this complaint. XXXX had informed me that there is no email available to do that.\nI believe this situation constitutes misrepresentation and misleading communication that directly impacted my financial decision. Additionally, the extended hold on my funds after immediate cancellation is unreasonable and was not clearly disclosed.\nI am requesting that Capital One:\nIssue an immediate refund of my XXXX deposit\nReview and address the misinformation provided by its representatives\nImprove transparency regarding fund availability and refund timelines\nI respectfully ask the XXXX XXXX XXXX XXXX XXXX to review this matter and assist in facilitating a prompt resolution.\nSincerely,\nXXXX XXXX \nXXXX XXXX XXXX XXXX XXXX\nXXXXnXXXX

Company response to consumer: Closed with explanation