Consumer complaint received 2024-12-20 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: NC

Complaint narrative:
I am writing this complaint for Unfair Deceptive and Abusive Acts conducted by Capital One. On XXXX XXXX I had a phone conversation with Capital One Representative about assistance wit my account due to financial hardships. The representative offered an interest rate fee reduction but stated that there was nothing else they could do for me. I informed them that the payment plan that they previously gave me was too much and I was trying to get the money and would have the funds to pay by something by the XXXX. I told them i could afford {$50.00} dollars a month before but they came back and asked for over {$300.00} dollars. They ask you what you can afford as if they will honor that amount and then come up with triple that amount. On the call XX/XX/XXXX after me stating i would do the best I can and get the payment on the XXXX and call back the next day the representative never mention that if i didn't pay by XX/XX/XXXX my account would charge off. I did not call back the next day because i was so busy trying to get the money for the payment to go along with money i was expecting to have on XX/XX/XXXX. Very important information in regards to my account status and a charge off was withheld from me On XX/XX/XXXX phone call just 6 days before my account was charged off. Capital refused to to disclose important terms of the financial product to me while they established contact. I was left under the impression that once I made a payment on XX/XX/XXXX my account would be okay. I went online on XX/XX/XXXX to make the payment to my card and saw that my account was charged off. I immediately contacted Capital One and asked when did it happen and they informed me just 2 days before on XX/XX/XXXX. I told them they iI had just poke with someone on XX/XX/XXXX and they never mention a charge off and I asked for a reversal because i was under the impression that Paying on XX/XX/XXXX was going to keep my account open. They representative stated they would submit a complaint and get back to me and advised me not to make any payments until they investigated. A representative called me today XX/XX/XXXX informing me that she listened to the calls and there was no error that the system generates a charge off at a certain tie and it happened when it should. I advised her that the issue is the charge off was not communicate to me and they knew about it when we spoke on XX/XX/XXXX and offered me anintrestrate reduction plan knowing that my account was going to be charged off if I didn't make a payment XX/XX/XXXX and after hearing me say I could pay on the XXXX. If Capital One had communicated the charge off information to me I would have made arrangements to get the money sooner at least by the XXXX instead of the XXXX. This act was very unfair and causes substantial injury to me as a consumer it was not reasonably avoidable because they did not inform me on the call on XX/XX/XXXX if i had known on that call date.The refused to disclose important terms of the financial product. The act was deceptive because it was misleading to offer me a interest rate plan knowing that my account would charge off in 6 days. The misleading practice effected my decision making when trying to get funds available to make a payment by a certain date. They offered me a interest rate free reduction plan but failed to disclosed that my account was going to charge off in 6 days from the time of the phone call. The act was Abusive because they interfered with my ability to understand the product and the charge off. Capital one took advantage of my lack of understanding of risk and cost and conditions by not informing me of important information so they could just charge off my account. Its abusive because I didn't have the ability to protect my own interest. Its abusive because I relied on the company to have my best interest and be transparent and inform me of important information.Capital one should reverse the charge off on my account, I have requested that it be done due to the XXXX concerns.

Company response to consumer: Closed with explanation