Checking or savings account -- Managing an account -- Complaint #11164202
Complaint Overview
Complaint ID: 11164202
Company: Capital One Financial Corporation
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Banking errors
State: Colorado
ZIP Code: 80238
Date Received: 2024-12-14T12:00:00-05:00
Date Sent to Company: 2024-12-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I opened a XXXX XXXX XXXX savings account at Capital One in XXXX. In XXXX, I was told today, Capital One began offering a new XXXX XXXX XXXX account with a much higher interest rate. I don't recall receiving any notification about the importance of this change. I always thought I had a XXXX XXXX XXXX account because my account name always said " XXXX. '' I finally learned by reading a XXXX XXXX, XXXX email from Capital One that I am currently earning XXXX percent interest on my money market account -- much less than the XXXX percent interest being paid on XXXX XXXX XXXX. I have thought for years that I was earning the higher interest rate. Capital One 's lack of communication to its existing customers about the impact of the XXXX change it made to its accounts was dishonest. I learned of it only today, on XXXX XXXX, XXXX. I calculate that this hidden change has cost me over {$20000.00} in lost interest.
Frequently Asked Questions
What is Complaint #11164202 about?
Complaint #11164202 was filed against Capital One Financial Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-12-14T12:00:00-05:00.
How did Capital One Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Capital One Financial Corporation?
Yes, visit the Capital One Financial Corporation company profile at readthecomplaint.com/company/capital-one-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.