Credit card -- Other features, terms, or problems -- Complaint #15985660

Complaint Overview

Complaint ID: 15985660

Company: Capital One Financial Corporation

Product: Credit card

Sub-Product: General-purpose credit card or charge card

Issue: Other features, terms, or problems

Sub-Issue: Problem with rewards from credit card

State: Florida

ZIP Code: 33023

Date Received: 2025-09-16T12:00:00-05:00

Date Sent to Company: 2025-09-16T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

According to your Customer Agreement, We may close or suspend your Account at any time and for any reason permitted by law, even if you are not in default. While I acknowledge this authority, your Rewards Program Terms and Customer Agreement also establish that rewards are earned on qualifying purchases made while the account is open and in good standing. My billing cycle was scheduled to end on XX/XX/year>. I made qualifying purchases between August 1121, 2025, while both accounts were still active. Those transactions earned rewards which would have appeared on my XX/XX/XXXX statement. However, because the accounts were closed on XX/XX/XXXX, before the cycle closing date, I was denied the opportunity to access or redeem over {$300.00} in earned rewards value. Your XX/XX/XXXX letter states : once the account is closed, rewards are forfeited. The account must be open and in good standing in order to redeem rewards. While that general rule may apply to post-closure activity, in this case, Capital One prevented redemption of rewards already earned through legitimate transactions made prior to closure. Capital One closed my accounts on XX/XX/year>, even though my billing cycle wasnt set to end until XX/XX/year>. I made eligible purchases between XX/XX/year> that should have earned rewards. Because they shut down the accounts before the cycle ended, I lost over {$300.00} in rewards that I rightfully earned while my accounts were still open and in good standing. While I understand Capital Ones contractual right to close accounts, I dispute the fairness and application of their rewards policy in this instance : Cycle Timing My billing cycle was scheduled to end on XX/XX/year>. Between XX/XX/XXXX and XX/XX/year>, I made qualifying purchases while both accounts were open and in good standing. Those transactions generated rewards which would have posted with the XX/XX/XXXX cycle. Premature Closure Impact By closing my accounts on XX/XX/XXXX, Capital One prevented the XX/XX/XXXX cycle from closing and blocked me from redeeming over {$300.00} in earned rewards. This denied me the reasonable opportunity to access value that had already been earned. Unfair Retention of Value Capital Ones position effectively allows the bank to retain the financial benefit of my purchases while withholding the contractual rewards. This practice : Violates the duty of good faith and fair dealing by depriving me of earned benefits. May constitute unjust enrichment, as Capital One keeps the value without honoring its rewards obligation. Raises potential issues under the Truth in Lending Act ( Reg Z ) and CFPBs standards on unfair, deceptive, or abusive acts or practices ( UDAAP ), as the rewards program was marketed as a core feature of the ac I am simply asking that these rewards be applied to my remaining balance. This would be a fair resolution and ensure Capital One does not keep money I earned through legitimate transactions.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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