Credit card -- Closing your account -- Complaint #11358194
Capital One Closes Florida Account, Complaint Referred
Complaint Overview
Complaint ID: 11358194
Company: Capital One Financial Corporation
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Closing your account
Sub-Issue: Company closed your account
State: Florida
ZIP Code: 33185
Date Received: 2024-12-31T12:00:00-05:00
Date Sent to Company: 2025-01-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: low
The risk is low as the account was closed with an explanation, suggesting a reason was provided to the consumer, and the complaint was referred, indicating it's being processed.
Consumer Sentiment: neutral
Topics: Credit card account closure, Capital One, Consumer complaint
AI Analysis
CFPB complaint 11358194 was filed against CAPITAL ONE FINANCIAL CORPORATION regarding Credit card (General-purpose credit card or charge card), specifically about "Closing your account". A Capital One credit card holder in Florida had their account closed by the company with an explanation, and the complaint was referred. The complaint was received on December 31, 2024 from Florida. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should review the explanation provided by Capital One for the account closure and understand their rights regarding account closures.
Legal Context & Consumer Protection Laws
Credit card companies have the right to close accounts under certain conditions, often outlined in the cardholder agreement.
Regulatory Insight
Companies must provide a reason for adverse actions, such as account closure, to consumers as required by regulations like the Fair Credit Reporting Act (FCRA).
Resolution Likelihood
unlikely
State-Specific Consumer Protections
In Florida, consumers have rights regarding financial services, and regulatory bodies handle complaints filed within the state.
Industry Comparison
Credit card issuers frequently close accounts due to various factors, including risk management and changes in consumer behavior.
Related Issues
Frequently Asked Questions
What is CFPB complaint 11358194 about?
CFPB complaint 11358194 involves Credit card (General-purpose credit card or charge card). The consumer reported an issue with "Closing your account", specifically "Company closed your account". This complaint was filed against CAPITAL ONE FINANCIAL CORPORATION on December 31, 2024.
Which company is complaint 11358194 filed against?
Complaint 11358194 was filed against CAPITAL ONE FINANCIAL CORPORATION. You can view all complaints against this company on their profile page at /company/capital-one-financial-corporation.
What was the company's response to complaint 11358194?
CAPITAL ONE FINANCIAL CORPORATION responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 11358194 filed?
Complaint 11358194 was received by the CFPB on December 31, 2024. It was sent to CAPITAL ONE FINANCIAL CORPORATION on January 2, 2025.
What state was complaint 11358194 filed from?
Complaint 11358194 was filed from Florida. You can view all complaints from this state at /state/FL.
Was the consumer satisfied with the resolution of complaint 11358194?
Dispute information is not available for complaint 11358194.
What product category is complaint 11358194 about?
Complaint 11358194 is categorized under "Credit card", specifically "General-purpose credit card or charge card". This is one of the product categories tracked by the CFPB.
How was complaint 11358194 submitted?
Complaint 11358194 was submitted via Referral. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 11358194?
Credit card companies have the right to close accounts under certain conditions, often outlined in the cardholder agreement. This relates to a Credit card complaint against CAPITAL ONE FINANCIAL CORPORATION involving "Closing your account".
How likely is complaint 11358194 to be resolved?
Resolution likelihood: unlikely. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 11358194?
This complaint is rated as low risk. The risk is low as the account was closed with an explanation, suggesting a reason was provided to the consumer, and the complaint was referred, indicating it's being processed.
What regulatory actions apply to complaint 11358194?
Companies must provide a reason for adverse actions, such as account closure, to consumers as required by regulations like the Fair Credit Reporting Act (FCRA). The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit card industry.
What should the consumer do about complaint 11358194?
Consumers should review the explanation provided by Capital One for the account closure and understand their rights regarding account closures.
Are there state-specific protections for complaint 11358194?
In Florida, consumers have rights regarding financial services, and regulatory bodies handle complaints filed within the state. This complaint was filed from Florida.
How does complaint 11358194 compare to industry norms?
Credit card issuers frequently close accounts due to various factors, including risk management and changes in consumer behavior.
What are common reasons Capital One might close a credit card account?
Common reasons include excessive late payments, high credit utilization, suspected fraud, or changes in the cardholder's credit risk profile.
What does it mean for a complaint to be 'referred'?
A referral typically means the complaint has been passed to another department or entity within Capital One or to a regulatory agency for further investigation and resolution.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.