Consumer complaint received 2024-01-20 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: NH

Complaint narrative:
I spoke with a Capital One supervisor, XXXX, on XX/XX/XXXX from XXXX on a recorded line about my issue which is : Ever since I had the specific credit card, I have ALWAYS paid on time and NEVER ( to the best of my knowledge ) incurred any late fees or interest. Additionally, my practice has been to ALWAYS pay my balance in full at a Capital One branch. In this particular instance, because I was out of state and in a location where, when I went to find a nearby branch, I got the response on the website, " Looks like there aren't any locations within XXXX miles. Try our digital options or search another location, '' I scheduled a payment in full in advance on the Capital One website for the due date, XX/XX/XXXX. When I got an email XXXX days later stating that my payment was late, I immediately phoned Capital One, explained the situation to XXXX who made the payment over the phone ( conf # XXXX ). Additionally, XXXX, because I did attempt to make the payment timely, reversed the late fee. I assumed that the matter was closed, but it wasn't. I just learned that I have a balance on the account of {$40.00} all of which is interest charged on the alleged late payment amount. There are no other charges on the card other than that interest charge. 

Especially under the circumstances, it is my contention that, if a late fee is to be reversed, the interest associated with the XXXX days for which that alleged late payment was late should also be reversed since they are a " package. '' It makes no rational sense to reverse a late fee with cause then charge interest on that alleged late balance, which was immediately paid when learning the scheduled payment failed to be credited. 

When I spoke with XXXX, he told me that either the late fee or the interest could be reversed but not both. I pointed out that such a situation makes no rational sense since, if a late fee is reversed, any interest associated with the alleged late payment should also be reversed. XXXX told me that he and that no one at Capital One could reverse the interest charge. In answer to my question, he stated that even the Capital One president couldn't reverse the interest charge. He also told me that there is no procedure to escalate my concern to anyone above him. I requested that the recording of my telephone conversation be reviewed by someone above his level and that that person get back to me. He said that would not happen and ultimately hung up. 

I am requesting that the CFPB review the situation including the telephone conversation that, as noted above, was said to be on a recorded line. I believe the entire situation to be in that category of " outrageous. '' In order to avoid further complications, I am going to pay the interest charge today, the cycle 's due date. I trust and hope to resolve it prior to my next billing cycle including a return of the alleged interest charge I am paying. 

Thank you. 

XXXX XXXX

Company response to consumer: Closed with monetary relief