Consumer complaint received 2024-10-23 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MD

Complaint narrative:
Where to begin with this XXXX XXXX XXXX XXXX For starters, they have continuously failed to provide accurate reporting relative to transaction data, specifically relating to declined payments and payments which have posted within the system. Between the months of XX/XX/year> to XX/XX/year>, Capital One has proceeded to continuously send me notifications of declined payments, while purposefully exclude pertinent information to help consumers ( i.e. myself ) to be aware of which payments correlate with the merchant as the payment was declined. In other words, when a notification is received via email, no merchant is listed but the payment amount is. In turn, when you call customer service, they are completely oblivious to what you are reporting and could care less ; which ALWAYS results in phone calls that last over 30 minutes.

Not to mention, customer service has been outsourced outside of the United States, increasing risk associated with comprehension based on language barriers and SOPs which translate differently resulting in quality decreasing significantly and as a result Americans do not get the level of support that they need, which only increases frustration to astronomical levels. This is just one of the many issues which they REFUSE to address. The second issue is, they are purposefully and intentionally committing credit card fraud at astronomical levels by exploiting/and distributing written statements via their mobile app and via text message stating that consumers ( i.e. myself ) are two payments past due, before they are actually two payments past due. When I initially started receiving this notification via the mobile app, I was only technically 1 payment past due as the month of XXXXXXXX XXXX  payment was not made, and the month was currently XX/XX/year>. However, at this point, I am now two payments past due with no real options to get caught up unless I chose the FORCED AND ONLY UNAFFORDABLE OPTIONS offered by Capital One ; which is how/and the only way that they conduct business.

It would not be Capital One, if they actually gave a d** about customers and took the time to look into affordable options. Based on these inaccuracies, I proceeded to complete outreach and interacted with a live agent via chat within Capital Ones online website on Sunday, XX/XX/year>. I explained that I was not able to pay the minimum amount due monthly for the card ending in XXXX because I was currently unemployed and was only receiving a certain amount of money from unemployment, and the agent advised that she would check in the system to see what options were available. She then proceeded to use forceful tactics insinuating that she would have to end the chat and I could contact Capital One once I was able to provide a payment amount because her system required this information. She then went on to insinuate that the amount I provided which was between $ XXXX {$80.00} would suffice based on the payment plan options displayed within her system and then proceeded to purposefully choose the higher of the two amounts to input within her system just to produce/and offer an option that wasnt near being affordable because it was 4x the amount of money I advised I could afford to pay per month ( i.e. the system produced a monthly payment amount of over {$200.00} within a payment plan ). It was at this moment that I knew she merely lied and didnt care about assisting me because she was only going to do the bare minimum because the expectation at Capital One is for all employees to merely do the bare minimum. 
I am currently receiving unemployment weekly in the amount of {$430.00} and my monthly bills total over {$4000.00} and the incompetent agent whom I was interacting with literally did the bare minimum. Even after explaining that this was not affordable, she merely indicated via the chat to contact Capital One for further assistance as these were the options available. As of today, the system reflects that there are affordable payment options available, however, when you are asked what you can afford to pay a month and you enter {$50.00} the system generates that a 3-month plan of {$210.00} a month is the best option and then merely directs you to call customer service, where agents WILL NOT BE ABLE TO HELP YOU! WHAT IS THE POINT OF HAVING CUSTOMER SERVICE AGENTS ON PAYROLL IF THEIR EXISTENCE IS A WASTE BECAUSE THEY ARE MERELY TRAINED TO READ OFF OF A COMPUTER SCREEN AND A SCRIPT! I have banked with Capital One for years and have seen how the banks customer service has continuously declined as agents are incompetent, lack empathy, common sense, business acumen, and merely do the bare minimum because they are not required to do anymore than that. Also, Capital One LOVES TO CHARGE EXCESSIVE FEES FOR PROFIT, WHICH IS ILLEGAL. 
As of XX/XX/year>, I was charged {$110.00} which is a little over 75 % of my monthly minimum payment of {$140.00}, resulting in almost no money being applied to the current balance. Not to mention, as of today ( i.e. XXXX ) my credit card is {$340.00} over the limit only because I have been charged fluctuating interest rate charges which are supposedly driven by purchases which isnt applicable considering this credit card has a fixed interest rate that doesnt fluctuate. However, based on the fluctuating interest rate charges it is readily apparent that the fixed interest rate is actually driven by the prime rate that is a derivative of the ever changing/constantly fluctuating stock market. The options and tactics used by Capital One are egregious, heinous, forceful, malicious, and they only exist so that the bank can profit at all cost. For example, from the months of XXXX to XX/XX/year>, I have been charged {$360.00} in interest rate fees/cash advance fees. I would rather swim in an ocean XXXX XXXX XXXX than continue to bank with Capital One.

According to ( CFPB ) Consumer Finance Protection Bureau, 1026.56 Requirements for Over the Limit Transactions, Sub-section B ( Opt-In Requirement GENERAL ( 1 ) ; it states that a card issuer shall not assess a fee or charge on a consumers credit card account under the open-end ( not home-secured ) consumer credit plan for an over the limit transaction ( i.e. interest rates that exceed the credit limit on purpose with the sole intent to make a profit, cash advance fees that exceed the credit limit, return payment fees that exceed the credit limit, etc. ) unless the card issuer : ( i ) provides the consumer with an oral, written or electronic notice, segregated from all the other information, describing the consumers right to affirmatively consent, or opt in, to the card issuers payment of an over the limit transaction ; ( ii ) provides a reasonable opportunity for the consumer to affirmatively consent, or opt in, to the card issuers payment of over-the limit transactions, ( iii ) obtains the consumers affirmative consent, or opt-in, to the card issuers payment of such transactions, ( iv ) provides the consumer with confirmation of the consumers consent in writing or if the consumer agrees, electronically; and ( v ) provides the consumer notice in writing of the right to REVOKE that consent following the assessment of an over-the limit fee or charge. ( XXXX ) COMPLETION OF OVER THE LIMIT TRANSACTIONS WTIHOUT CONSUMER CONSENT. Notwithstanding the absence of a consumers affirmative consent under paragraph ( b ) ( 1 ) ( iii ) of this section, a card issuer may pay any over-the-limit transaction on a consumers account provided that the card issuer does not impose a fee or charge on the account for paying that over-the-limit transaction. ( c ) Method of Election : a card issuer may permit a consumer to consent to the card issuers payment of any over the limit transaction in writing, orally, or electronically, at the card issuers option. The card issuer must also permit the consumer to revoke his or her consent using the same methods available to the consumer for providing consent. ( d ) Timing and Place of Notices : Initial Notice ; ( i ) General : The notice required by paragraph ( b ) ( 1 ) ( i ) of this section shall be provided prior to the assessment of any over-the-limit fee or charge on a consumers consent. ( ii ) Oral or electronic consent : if a consumer consents to the card issuers payment of any over the limit transaction by oral or electronic means, the card issuer must provide the notice required by paragraph ( b ) ( 1 ) ( i ) of this section immediately prior to obtaining this consent. ( 2 ) Confirmation of opt in : The notice required by paragraph ( b ) ( 1 ) ( iv ) of this section may not be provided no later than the first periodic statement sent after the consumer has consented to the card issuers payment of over the limit transactions. ( 3 ) Notice of right revocation : The notice required by paragraph ( b ) ( 1 ) ( v ) of this section shall be provided on the front of any page of each periodic statement that reflects the assessment of an over-the-limit fee or charge on a consumers account.

Company response to consumer: Closed with monetary relief