Consumer complaint received 2024-05-13 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with balance transfer
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA

Complaint narrative:
I took advantage of a 12 month, 0 % interest, balance transfer offer with Capital One for my Quicksillver credit card on XX/XX/XXXX for {$9600.00}. I was charged an upfront fee of 3 % for {$280.00}. The following XX/XX/XXXX billing statement included this balance transfer and respective fee. In the top left corner of the bill, an 'Interest Saver Payment ' option was included below the payment due date and new balance total. It stated that if I 'Pay at least this amount to avoid interest on new purchases shown on your next statement. ' I proceeded to pay this interest saver payment each month through XX/XX/XXXX. On the XX/XX/XXXX billing statement, this " Interest Saver Payment '' option was removed from my billing statement with no upfront notice or warning. Now the only payment option given was " Minimum payment due '' for {$88.00}. I proceeded to pay this minimum payment for {$88.00} on XX/XX/XXXX. Come to the XX/XX/XXXX billing statement and I was in turn charged {$160.00} in new interest charges. When I called Capital One on XX/XX/XXXX, to inquire about what took place, the supervisor informed me that my 12 month 0 % interest balance transfer offer had expired and I would now be charged interest on the statement balance. I informed him that I was not made aware of the expiration date of this offer in writing and notified him about the removal of the " Interest Saver Payment '' option from my XXXX statement. I asked for the interest charges to be credited back to my account. He refused and said this is normal Capital One business practices of which I believe is fraudulently deceiving millions of consumers with this misleading information. I asked to speak to his supervisor and he said that was not possible as they are only accessible via email. I proceeded to file a complaint with Capital One about this negative experience. The Capital One case number is XXXX. 

I proceeded to pay my full statement balance on XX/XX/XXXX, for {$9000.00}. 

Fast forward to the XX/XX/XXXX billing statement and I was once again charged interest in the amount of {$130.00}. 

I called Capital One on XX/XX/XXXX, and inquired as to why I was continuing to be charged interest after paying my statement balance in full on XX/XX/XXXX. I once again informed the supervisor, XXXX ( Employee ID # XXXX ), that I was not made aware of the expiration date of the balance transfer offer in writing and notified him about the removal of the " Interest Saver Payment '' option from my XX/XX/XXXX billing statement. I asked for the interest charges to be credited back to my account. He refused and said this is normal Capital One business practices, of which I believe is fraudulently deceiving millions of consumers with this misleading information. I asked to speak to his supervisor and he said that was not possible as they are only accessible via email. I proceeded to file a complaint with Capital One about this negative experience. The Capital One case number is XXXX.

Company response to consumer: Closed with explanation