Credit card or prepaid card -- Fees or interest -- Complaint #6307653
Complaint Overview
Complaint ID: 6307653
Company: Capital One Financial Corporation
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-Issue: Charged too much interest
State: Washington
ZIP Code: 992XX
Date Received: 2022-12-11T12:00:00-05:00
Date Sent to Company: 2022-12-11T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/22 I contacted CapitalOne ( XXXX XXXX credit card ) concerning an interest charge in my new statement, even though the previous statement balance had been paid IN FULL five days before the end of the billing cycle ( I even paid more than the balance ). The interest charge was {$16.00}. To make matters worse, the interest charge was assessed on an amount higher than the balance statement. The agent I spoke to tried to guess what the problem was but was not addressing the issue : she guessed that it was a previous monthly balance, was there was none. She guessed that I had not paid in full, but I paid more than the balance statement. Even though the agent was guessing, they were intent on simply declare I was wrong. Nothing came out of this conversation. Their explanation in the statement comes to " '' How is the Interest Charge Determined? '' ( below ). But that description does NOT unequivocally state whether it is the END OF THE BILLING CYCLE or the DUE DATE that is determined to charge interests. CapitalOne simply interprets this in their favor, while a plain reading of the description and other documents makes. But any fair reader will see that the phrasing very much indicates that it is the END OF THE BILLING CYCLE WHAT COUNTS. CapitalOne seems to be praying upon costumers based on loose language they use their power to interpret in their favor. CapitalOne agents and surpervisor were acting as if my only recourse was to complain to CapitalOne. They were cagey about how I could proceed with my complain outside CapitalOne. Actions : besides talking to them, I am submitting this complain, and will submit another with the XXXX XXXX XXXX. CapitalOne did nothing. " How is the Interest Charge Determined? Interest Charges accrue from the 1 ) date of the transaction, 2 ) date the transaction is processed or 3 ) first day of the billing period. Interest accrues daily on every unpaid amount until it is paid in full. Any interest that has accrued during a billing period will post to your account at the end of the billing period and will appear on your next statement. This means you may owe Interest Charges even if you pay the entire New Balance one month, but did not do so the previous month. ''
Frequently Asked Questions
What is Complaint #6307653 about?
Complaint #6307653 was filed against Capital One Financial Corporation regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2022-12-11T12:00:00-05:00.
How did Capital One Financial Corporation respond to this complaint?
The company responded with: "Closed with monetary relief". 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 (Credit card or prepaid card) 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.