Date Received: 2024-01-22
Issue: Managing an account
Subissue: Problem making or receiving payments
Consumer Complaint: I've been a long time customer of Capital One for over 20 years ( going back to when it was ING ). I have both a savings account and a money market account. The interest rate has always been one of the best in the market. In XXXX interest rates were reduced dramatically due to COVID and in XX/XX/XXXX the government starting increasing interest rates dramatically. I realized in XX/XX/XXXX that my interest rate has only be 0.3 % when interest rates were dramatically hire for the last two years. When I inquired why it's so low, Capital One advised me to open up a new " performance savings account '' that is offering 4.35 % interest. I had no idea this existed and wasn't informed about it until I asked. The issue is the fact that they arbitrarily opened up a new savings account with a higher interest rate, never told me about the change, and left me stuck in the low yielding account. I've had between $ XXXX and have been missing out on roughly the difference of 4 % interest for 2 years which could have been $ XXXX. I find it certainly disingenuous and on the verge of fraudulent to make that change and not alert customers to the fact. The purposely left me in an account paying minimal interest so they wouldn't have to pay the higher interest rate. They told me when I called that I should just check the website which is XXXX. I feel they should have to pay me the interest I could have earned had they told me of the change, or simply switched my account to the new account. Please advise on next steps and how to handle. Thanks.
Company Response:
State: NJ
Zip: 07901
Submitted Via: Web
Date Sent: 2024-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-22
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: This is an ongoing issue, my credit card was charged for services from XXXX which I did not authorize. First is was on XX/XX/2023 for {$18.00}, I called and the charges was reversed. Another card was issue to replace the card... XXXX. When I have not received my new card another charges from XXXX for {$13.00} on XX/XX/2023. I set up a fraud alert and any charges will required my approval, therefore I Declined the charges ( proof attached ). But as of today Capital One still insisted on that I purchased and benefit from the service. I asked for the proof of their investigation, their reply " sorry we can not provide that '' the phone coversation was recorded by Capital One ( they announced when answering my call )
Company Response:
State: CA
Zip: 92683
Submitted Via: Web
Date Sent: 2024-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-22
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: I've had my savings in Capitol One 360 savings the past year, plus. I've seen the account being advertised as 4+ % interest rate and believed that is what I was receiving during XXXX, however I've only been receiving 0.30 % I called ( XX/XX/XXXX ) and they notified me that I was not receiving that rate since I need to open a new " Performance Savings '' account. I opened the new account and also requested to be compensated for the difference since it's was deceptive marketing practices. They denied being able to compensate me.
Company Response:
State: WY
Zip: 825XX
Submitted Via: Web
Date Sent: 2024-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-22
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: I put my substantial nest egg ( approx {$200000.00} ) with Capital one 360 savings account some years ago, because it was a leader in paying what was at the time a decent interest rate compared to other banks. As interest rates rose on savings accounts nationally over the last couple of years, I refrained from moving my funds from Capital One 360 Savings to another firm because I saw that Capital One Performance 360 savings was advertising rates that were keeping pace with the market, compared to other high interest rate paying firms. And therefore assumed that the savings interest rate I was getting was keeping pace with the market, so I didnt bother to looking into switching to another bank only to gain what I thought would just be a small difference at most, figuring it wasnt worth the turmoil, given that my credit card, checking account, etc. was with Capital One and I liked doing business with them. Because I didnt recognize the distinction between Capital One 360 and Capital One Performance 360, my money sat making barely any interest ( in the .3 % range ) when the market was paying XXXX % and higher ranges. I lost out on substantial amounts of money ( actually thousands ) because of Capital Ones deceptiveness. Is there any way for me to recoup some of these losses? When I spoke with Capital One they said there was nothing they could do. After that discussion, I pulled my money from Capital One and placed it with XXXX XXXX Please advise.
Company Response:
State: VA
Zip: 229XX
Submitted Via: Web
Date Sent: 2024-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: I had applied for a capital one savor card to use the no interest promotion to make a purchase. The promo period was still running but I was charged interest last month. I called and after some time on the phone resolved with them just crediting the interest and I would pay the balance in full. This month I notice that I am being charged {$13.00} in interest when I have a {$0.00} balance. I did not use the card at all after making the payment in full as part of the agreement we made. I called today, XX/XX/XXXX to try and resolve this and they tell me they can not as I did not pay the full balance due. I explained to a representative and a supervisor the agreement we had and they said the same information. I informed them I could not pay more than what was owed on the account so the interest charge did not make sense as I had no balance.
Company Response:
State: MA
Zip: 021XX
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Other features, terms, or problems
Subissue: Other problem
Consumer Complaint: On XXXX XXXX XXXX I booked a stay on the Capital One XXXX XXXX at XXXX XXXX XXXX XXXX XXXX XXXX XXXX for XX/XX/2023 to XX/XX/ ( confirmation number : XXXX ). In total, XXXX {$1600.00} was charged, with {$300.00} travel credit from my Capital One travel bank, and {$1300.00} being charged to my Capital One card ending in XXXX. These screenshots are attached below. When I arrived at the property on XX/XX/ at around XXXX, I was informed that I had no booking with the property. The front desk then told me that the reservation I had was cancelled because of a cancellation of the third party that Capital One used to book the reservation. I called the Capital One travel support, which said that they would give me a refund for my booking along with a {$100.00} travel credit as compensation. Since then, I have called Capital One multiple times ( XXXX times ) regarding my refund. I have been told by the representatives that they will contact the hotel partner and hotel to give me a refund back. The property has me a partial refund of {$980.00}, credited to another credit card ( not the original capital one card that I booked with ), but Capital One XXXX, which I booked with, still has not given me any refund. XXXX attached below. It is unacceptable that after over a month timeline without a proper booking reservation, Capital One has still not provided me with a refund, after reaching out over 5 times over the span of a month. Each time, I am told I will get a call back with a resolution, and each time, that does not happen.
Company Response:
State: NY
Zip: 11365
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: I was used as a Authorized User i did not give permission to be a authorized user. Capital, one looks like the limit was {$300.00} and it closed XX/XX/2023, I don't know the account number. this account is showing on my credit report Please remove and restore my credit score points that was taken
Company Response:
State: IL
Zip: 60076
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: I read an article highlighting that the interest rate on my Capital One savings account is significantly lower than newer accounts at Capital One. I currently am receiving only .30 % APR while newer accounts with Capital One are earning over 4 %.
Company Response:
State: NY
Zip: 13021
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Problem with a company's investigation into an existing problem
Subissue: Difficulty submitting a dispute or getting information about a dispute over the phone
Consumer Complaint: Capital One Account XXXX XX/XX/2024 I am writing this letter to let you know what a disaster you have caused for XXXX. I asked Capital One to help me. Instead, you made things worse. I called and arranged for payment plan. I agreed to pay {$200.00} per XXXX due on the XXXX of each XXXX with the understanding I would try to get current as soon as possible. I asked the representative if it would affect my XXXX XXXX. I said he did not know. Should have realized something was XXXX. What Capital One did was trash my XXXX XXXX by XXXX points and continues to report me as XXXX. For the last XXXX XXXX CapitalOne has reported to me even though I made prompt {$200.00} payments. We agreed to a payment plan so what CapitalOne has done seems XXXX, XXXX XXXX XXXX XXXX. I am not the only one you have done this too. As an example, I asked XXXX XXXX for a plan, and they agreed to a month repayment plan. They report me as current. XXXX XXXX suspended interest charges. They do not charge malicious interest as Capital One does and did not trash me. All other credit cards are current and up to date. I only asked CapitalOne and XXXX XXXX for help. XXXX XXXX came through. Capital One did not. All other credit cards are current. You continue reporting me as late caused my other credit card companies to reduce my credit lines, which increases my credit usage which then reduced my XXXX XXXX. This has happened the last XXXX XXXX, my XXXX XXXX continues to go down because of Capital One. The cycle continues. You should be ashamed. Under the guise of helping, you are destroying my XXXX XXXX. You should immediately remove XXXX your advertisements mentioning as being a friendly bank. I should consider a class action suit for XXXX practices. I have lost XXXX due to XXXX. CapitalOne does not care. I am going to encourage the Consumer Financial Protection Bureau to break the relationship between CapitalOne and the XXXX credit reporting agencies based on XXXX and XXXX behavior. I have considered placing my experiences on XXXX and XXXX, but I am not as XXXX as Capital One People and businesses should know how you operate. Your XXXX XXXX lending is XXXX. Disappointed in CapitalOne, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
Company Response:
State: OH
Zip: 44138
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: On XXXX, Capital one reported an account ( XXXX ) as Charge off / Collections onto my consumer profile without my written consent which is a violation of the Fair Credit Reporting Act title 15 U.S.C. 1681a .... REMEDY OF REMOVAL IS WHAT IM AFTER.
Company Response:
State: LA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A