Consumer complaint received 2024-11-15 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: PA

Complaint narrative:
I am filing this formal complaint to report CAPTIAL ONE for engaging in deceptive billing practices, failure to provide sufficient documentary evidence of alleged debts, and retaliatory cancellation of my credit card while a dispute was actively under review ( see XXXX ). Between XX/XX/year> XX/XX/year>, I identified significant discrepancies in my CAPITAL ONE credit card account that I believed violated the Fair Credit Billing Act ( FCBA ), 15 U.S.C. 1666. I initiated a formal dispute and requested documentary evidence to substantiate the claimed debt, as well as clarification on the nature of the credits and debts reflected in my account statements. Despite multiple attempts to resolve this matter, CAPITAL ONE has failed to comply with their legal obligations. As a result of Capital Ones actions, my credit score has plummeted by XXXX points. This significant drop has directly impacted on my ability to qualify for a home equity loan, which I had been in the process of securing to fund necessary home renovations for my family. Given that I have a newborn child and significant family obligations, these renovations are urgent. Consequently, I have been unable to move forward with the equity loan application due to the damage to my credit profile caused by Capital Ones improper handling of my account. In addition to the financial harm caused by this situation, the stress and uncertainty I have experienced have led to significant emotional distress. I have been seeing a licensed therapist for the past two weeks to address symptoms XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX directly linked to the financial hardships and personal toll this matter has caused. This has been a profound and disruptive impact on my well-being, for which I expect Capital One to take responsibility. CAPITAL ONE unilaterally canceled my credit cards account ( Ending in XXXX and XXXX ) on XX/XX/year>. This retaliatory measure was taken while my billing dispute remained unresolved and under review, violating federal protections under 12 CFR 1002.2, which govern equal treatment and protect consumers from punitive actions during billing disputes. This unlawful cancellation is further evidence of CAPITAL ONEs intent to sidestep their legal responsibilities. The retaliatory nature of this cancellation violates the Fair Credit Billing Act ( 15 U.S.C. 1666i ), which specifically prohibits adverse actions, such as account closure, while a dispute is active. Under 15 U.S.C. 1666, I am entitled to receive detailed documentation of the financial records supporting the alleged debt. However, CAPITAL ONE has repeatedly failed to comply with this legal requirement. Additionally, under 15 U.S.C. 44 ( regarding documentary evidence ), I have requestedbut have not been provided withthe books, papers, and financial records essential to verifying the accuracy of the debt. The lack of transparency surrounding the supposed debt and CAPITAL ONEs refusal to provide clear financial documentation is a violation of my rights as a consumer. If no documentary evidence is available to support CAPITAL ONEs claims, then the debt itself is void, and any further attempts to collect on it would constitute fraud.

Company response to consumer: Closed with explanation