Consumer complaint received 2026-04-16 00:00:00
Product: Credit 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
State: MA

Complaint narrative:
Complaint Regarding Capital One Venture X Account Closure, Annual Fee, and Removal of Earned Rewards I am filing a complaint regarding my Capital One Venture X credit card account, which was restricted and subsequently closed by Capital One for internal reasons not disclosed to me. Timeline and Account Activity : * The account annual fee of {$390.00} was charged on XX/XX/year>. * Between XX/XX/XXXX and XX/XX/XXXX, I made substantial purchases on the account, including multiple Capital One Travel bookings and everyday transactions. * On XX/XX/year>, Capital One placed a restriction on the account that prevented any further use of the card. * The account was subsequently closed by Capital One on XX/XX/year>. Because the account was restricted just 6 days after the annual fee was assessed and closed shortly thereafter, I had no meaningful opportunity to use the benefits associated with that fee. 1. Annual Fee Dispute : The XXXX XXXX annual fee is tied to ongoing benefits such as travel credits and lounge access. Due to the issuer-initiated restriction and closure shortly after the fee was billed, I was unable to access or utilize these benefits. I am not disputing Capital Ones right to restrict or close the account. However, retaining the full annual fee under these circumstances amounts to charging for services that were not provided. I am requesting a prorated refund of the {$390.00} annual fee based on the unused portion of the membership year. 2. Removal of Earned Rewards ( Approx. XXXX XXXX ) : At the time of account restriction and closure, approximately XXXX miles had been fully earned, posted, and reflected in my account balance. These rewards were derived from completed and qualifying activity, including : * XXXX miles from the welcome bonus after meeting the required spending threshold * Significant rewards earned through Capital One Travel purchases ( multiple transactions totaling several thousand dollars ) * Additional base rewards earned through everyday spending These rewards were fully earned, posted, and reflected in my account balance prior to restriction and closure. Following the account closure, these rewards were removed. This represents a loss of approximately $ XXXX in accrued value. The attached transaction history ( Exhibit A ) demonstrates completed and posted purchases, including multiple Capital One Travel transactions that generate elevated rewards rates and contributed significantly to the total rewards balance ( 5x rewards for travel and 10x for hotel purchases ). I was not provided a reasonable or meaningful opportunity to redeem these rewards prior to the account being restricted and subsequently closed. Due to the accounts short lifecycle and subsequent closure, I no longer have access to full statements or the rewards dashboard. However, all transactions, rewards accrual, and bonus fulfillment can be verified through Capital Ones internal records. Concern : While Capital One may reserve the right to restrict or close accounts, removing already-earned and posted rewards after issuer-initiated termination effectively reverses value accrued from completed transactions. This raises fairness concerns, particularly given the absence of any opportunity to redeem those rewards prior to closure.

Company response to consumer: Closed with monetary relief