Consumer complaint received 2024-12-22 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem when making payments — Problem during payment process
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TN

Complaint narrative:
Formal Complaint & Dispute Inconsistent Reversal Notifications, Resulting Late Fees, and Damaged Credit To Whom It May Concern at the CFPB and Capital One : I am writing in reference to my Capital One Platinum Card ( account ending in XXXX ) to formally dispute the negative outcomes stemming from multiple reversed payments in XXXX and XX/XX/year>. While Capital One has claimed these reversals resulted from Insufficient Funds, my core contention is that Capital One failed to provide consistent or timely returned payment notifications, depriving me of the ability to promptly address any account shortfall or technical issue.

Background : Payment Attempts & Reversals XX/XX/year> {$68.00} payment, reversed on or about XX/XX/XXXX I did eventually receive a returned email noticethough it arrived days later, after late fees were assessed. 
XX/XX/year> {$68.00} payment, reversed on or about XX/XX/XXXX I did receive a reversal email on XX/XX/XXXX, which was again post-late-fee, preventing me from rectifying the situation in a timely manner. 
XX/XX/year> {$120.00} payment, reversed on XX/XX/XXXX I have no record whatsoever of any returned payment email or notification. 
XX/XX/year> {$570.00} payment, reversed on XX/XX/XXXX I also have no returned payment notice for this reversal. 
In each case, I did receive emails about the payment being scheduled and posted, which reasonably led me to believe the payments cleared successfully. Without a prompt reversal notice, I was unaware the account remained unpaidleading to late fees, negative credit reporting, and the eventual closure of my account. 
Why This Is Unfair ( UDAAP & Regulation Z Concerns ) Inconsistent Notifications : Capital Ones own patternsometimes sending a reversal email days late, sometimes sending none at allconstitutes inadequate disclosure.

Unfair & Deceptive Acts or Practices ( UDAAP ) : Consumers must be clearly informed if a payment is reversed so they can take corrective action. Failing to do so, or doing so inconsistently, causes avoidable harm ( late fees and credit damage ).

Regulation Z ( Truth in Lending ) : Requires that changes to a credit account ( including reversed payments leading to a past due status ) be disclosed in a timely, clear manner. If I never received or only belatedly received these notices, that disclosure obligation was not met.

Financial Ability & Willingness to Pay Ample Funds : I have provided XXXX  XXXX XXXX statements ( and other documents ) proving I had the financial means to cover these payments. Even if there was a legitimate NSF on the specific linked account, I had more than enough funds in my broader finances to rectify any shortfall immediatelyif only I had been notified. 
No Intent to Default : My payment history across multiple accounts shows I am not in the habit of missing payments. These reversals were entirely unexpected due to the lack of timely communication from Capital One. 

Negative Outcomes Late Fees & Interest : Imposed because I inadvertently remained past due, unaware the payments were reversed.

Damaged Credit : Late/missed payment reporting to the credit bureaus negatively impacted my credit score.

Account Closure : Capital One ultimately closed my account, citing business concerns allegedly unrelated to my creditworthinessyet it was triggered by the repeated returned payments.

Requested Resolution Removal/Correction of Negative Credit Entries Because these negative marks arose from inadequate or missing notifications, I request that Capital One correct my credit reports, removing any late-payment notations connected to the reversed payments.

Refund of Late Fees & Interest I ask that all late fees and interest charges stemming from these reversals be refunded or credited, as I was not given a fair opportunity to remedy the situation.

Documentation of Email Notices I request a comprehensive timeline from Capital One showing each date/time they claim a returned payment email was sent, along with any proof ( e.g., server logs or headers ) demonstrating successful delivery.

Reinstatement of Account ( If Applicable ) If possible, I ask Capital One to consider reinstating my account ( under normal terms ) given that these past-due incidents were precipitated by faulty or late communicationnot an unwillingness or inability to pay.

Conclusion and Complaint Summary My chief complaint : Capital Ones inconsistent reversal notification process caused me to unknowingly remain delinquent, incurring fees and negative credit marks. Had I received timely, reliable notices of these reversals, I would have promptly covered any shortfall from my ample financial resources. I strongly believe this situation constitutes unfair and deceptive practices under UDAAP and violates the spirit of Regulation Zs disclosure requirements.

I respectfully request that both the CFPB and Capital One review this matter carefully. I look forward to a fair resolution that acknowledges the communication failures in reversing my payments and restores my account standing and credit file to an accurate, fair state. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX XXXX, TN XXXX XXXX | XXXX Email associated with capital one account : XXXX XXXX

Company response to consumer: Closed with explanation