Credit card -- Closing your account -- Complaint #18384059

Complaint Overview

Complaint ID: 18384059

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: Colorado

ZIP Code: 80021

Date Received: 2025-12-30T12:00:00-05:00

Date Sent to Company: 2025-12-30T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

My Capital One credit card account was closed without prior written notice and subsequently placed into internal collections, leaving me without any reasonable repayment options despite my willingness to pay. I did not receive any notices of returned payments, delinquency, account closure, adverse action, or placement into collections. To date, the only correspondence I have received has been routine billing statements reflecting the balance due. I did not receive emails, text messages, phone calls, or mailed correspondence notifying me of any serious issues with the account, the closure itself, or the change to collections status. During an extended period of medical hardship that prevented me from working for over a year. Despite financial strain, payments were made consistently. On some occasions, payments were returned due to timing and cash flow constraints, not refusal to pay, and those payments were later made manually as funds became available. At no point did I intentionally stop paying or abandon the obligation. After learning that the account had been closed and was in collections, I paused payments briefly in order to obtain clarification, as I was unable to get clear information from Capital One regarding what had occurred or what options were available. This pause was done in good faith and with the intention of resuming payments once accurate information could be obtained. I contacted Capital One multiple times seeking assistance and requesting a structured repayment plan or hardship option. I was told by multiple representatives and a supervisor that because the account was closed, no hardship or forbearance options were available, no escalation was possible, and my only options were to continue making payments while interest accrues indefinitely or wait for the account to be transferred to third-party collections. I am willing and able to repay this debt under reasonable terms. However, continued interest accrual and high required payment amounts make repayment under the current structure financially unsustainable. I have sufficient funds to make consistent monthly payments if interest is temporarily reduced or suspended so that payments reduce the principal balance. Additionally, upon closure of the account, all accumulated rewards points were forfeited without prior notice. This card was obtained and used in large part for its rewards program, and the loss of those points further compounded the impact of the sudden closure. I am requesting that Capital One review this account for a reasonable repayment plan with temporary interest relief, or provide a written explanation as to why no such option exists, given my willingness to repay and the lack of notice provided.

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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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