Consumer complaint received 2025-10-30 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: WI

Complaint narrative:
In XXXX of XXXX, I decided to switch Business cards from XXXX XXXX XXXX Capital One XXXX XXXX XXXX XXXX. On XX/XX/XXXX, I received the Capital One XXXX XXXX Business card and paid {$390.00} for a Capital One Member Fee which included a {$300.00} XXXX  reward to be used through Capital One XXXX  by XX/XX/XXXX. I set up autopayments to be drafted for the monthly balance of the card. 

I received a letter in the mail from Capital One that I would need to show proof that the entity exists and is in good standing with the Secretary of State ( or equivalent ) of the appropriate state dated after XX/XX/XXXX. My accountant, XXXX XXXX of XXXX XXXX XXXX in XXXX, Wisconsin faxed documents multiple times to Capital One with proof of existence. On XX/XX/XXXX, the card was " restricted ''. I received a letter in the mail from Capital One that I would need to show proof that the entity exists and is in good standing with the Secretary of State ( or equivalent ) of the appropriate state. My wife and I contacted Capital One on XX/XX/XXXX, regarding this and the issue was that we were to produce a document dated after XX/XX/XXXX, that would indicate this the entity exists and is in good standing. Hence, my accountant contacted the Wisconsin Department XXXX XXXX XXXX and applied for documentation to this effect. The documentation was finally received and faxed to Capital One via XXXX XXXX at XXXX XXXX services on XX/XX/XXXX. On Saturday, XX/XX/XXXX, the account was closed by Capital One. On XX/XX/XXXX, my wife and I contacted Capital One regarding the account closure by Capital One. We had been informed on the XX/XX/XXXX call and another call by Capital One representatives ( this should be recorded ) that we would not lose our {$300.00} XXXX  reward certificate as it was ours to use. Otherwise, had we known this would happen, we would have used the certificate and booked XXXX. We spoke with 3 different individuals today and were told we forefeited the reward/annual fee and would need to reapply for a new credit card as the account had been closed. Summary of the Problem : I am filing a complaint regarding Capital Ones handling of my credit card account. I paid a {$390.00} annual fee for my Capital One XXXX XXXX XXXX card, which included a {$300.00} XXXX  credit as a primary card benefit. Capital One cancelled my account on XX/XX/XXXX, without refunding the annual fee or providing the XXXX  credit benefit that I paid for and was unable to use due to the account closure. They stated I would need to reapply for another account and pay another {$390.00} annual fee if a new XXXX XXXX business account was openned. 

Details of the Issue : The annual fee of {$390.00} was charged on XX/XX/XXXX. 

Before I could use the {$300.00} XXXX  credit benefit included in the annual fee, Capital One closed my account on XX/XX/XXXX. The account had a XXXX balance. 

Capital One kept the full annual fee despite removing access to the XXXX  benefit I paid for. 

I contacted Capital One to request a refund, prorated refund, or reinstatement of the XXXX  credit, and my request was denied. 

I did not receive the services or value promised in exchange for the annual fee. 

Why This Is Unfair or Improper : Capital One charged me a premium annual fee for benefits, then cancelled my account and kept the fee without providing the contracted services. This constitutes an unfair billing practice, as I paid for services that were not delivered. If a bank cancels an account before benefits can be used, the consumer should receive the benefit or a refund.

Company response to consumer: Closed with explanation