Consumer complaint received 2024-02-14 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TX

Complaint narrative:
I received a call from a third party collector to collect a balance Owed to Capital One for an secured credit card. I explained that I was not comfortable with providing my personal information to a third party collection agency and was demanding to be transferred to the bank. I spoke with someone at the bank, explained how can I owe money on a card that I deposited money on. Upon my research to the company prospectus, I read that XXXX scores are used but not entirely accurate due to it being a third party independent company ; in which this convey Identity Theft. I did/do not consent to third party agencies and affiliates to have my person information. I also explained that in the prospectus that such score can not determine the amount a Person should receive as credit. No one could resolve my issues or reopen my account with the new balance requested. 
There seems to be an error as that would be in contradiction of 12 CFR 1002.2 ( l ), which defines a creditor as... the term does not include a person whose only participation in a credit transaction involves honoring a credit card. 12 CFR 1002.2 ( k ) defines a credit card as meaning any card, plate, coupon book, or other single credit device that may be used from time to time to obtain money, property, or services on credit. The credit card that was to be honored in said transaction is the Social Security Card, specifically the account numbers placed on the electronic credit application. If there is any presumption that the said Social Security Card/Account is not used to obtain money, property, or services on credit see 26 CFR 301.7701-11 as security is defined within the meaning of this regulation in reference to the social security number as ... or warrant or right to subscribe to or purchase, any of the foregoing ; negotiable instrument ; or money. - ( Source : 26 CFR 301.6323 ( h ) -1 ). The primary assets of the trust are receivables in designated consumer XXXX XXXX credit card accounts and XXXX XXXX XXXX revolving credit features associated with charge card accounts and, in the future, may include other charge or credit accounts or features or products. * The receivables consist of principal receivables and finance charge receivables. Pursuant to Prospectus Report The receivables have arisen or will arise in certain revolving credit accounts that have been selected from the Total Portfolio, in each case, on the basis of criteria set forth in the purchase agreements and the pooling and servicing agreement. Pursuant to Prospectus Report Consumer Financial Products Regulation The relationship of the consumer and the provider of consumer credit is extensively regulated by federal and state consumer protection laws. With respect to credit accounts issued. The most significant federal laws include the federal Truth in Lending, Equal Credit Opportunity, Fair Credit Reporting and Fair Debt Collection Practices Acts. These statutes impose disclosure requirements before and when an account is opened, at the end of monthly billing cycles and on an annual basis, and, in addition, limit account holder liability for unauthorized use, prohibit certain discriminatory practices in extending credit, and regulate practices followed in collections. In addition, account holders are entitled under these laws to have payments and credits applied to the revolving credit account promptly and to request prompt resolution of billing errors. The trust may be liable for certain violations of consumer protection laws that apply to the receivables, either as assignee from the transferors with respect to obligations arising before transfer of the receivables to the trust or as the party directly responsible for obligations arising after the transfer. Pursuant to Prospectus Report General The receivables transferred to the trust are generated from transactions made by holders of consumer Capital One revolving credit card accounts and XXXX XXXX XXXX revolving credit. Cards issued by Capital One are accepted worldwide and may be used for the purchase of merchandise and services. Subject to certain conditions, the transferors may convey to the trust receivables arising in charge or credit accounts or other charge or credit products that may be of a type not currently included as accounts. Pursuant to Prospectus Report Credit Card Accounts. Capital One credit card accounts may be used to purchase merchandise and services from merchants accepting Capital One credit cards, to transfer balances from other credit accounts or to obtain cash advances. Capital One credit card accounts are primarily solicited through direct mail, inbound and outbound telemarketing, online and other remote marketing channels. Offers are made to existing Card Members and to non-Card Members.

Company response to consumer: Closed with explanation