Capital One - Venture X (Complaint)

[SanDAgo]

@Dalmus  Thank you for your response. 

That is the exact reasoning that I had regarding the situation. They are claiming that they cannot identify me and referred the matter to the fraud department. Then why are they recording the annual fee as revenue. Either return it to the authorities or refund it to the account holder (me) who has an existing still active Quicksilver credit card account.  It is interesting to see what their argument will be on this point. 

[SanDAgo]

@redpat  This is not the case. My bank statement is only 1 page. It literally is one page because there is an amount (higher than the credit limit) sitting in the account with no transactions on the account. So the bank sends a 1 page statement saying I have XXX amount in the account, my address is on the document (same address as with my active Quicksilver card with Capital One), a valid statement date, account number, etc.  Capital One's rules do not state your bank statement has to be more than 1 page. It is a one page bank statement. 

[SanDAgo]

@GatorGuy  This would be my impression too, particularly because I have an existing Quicksilver account with them that has been active for the past 15 years with all payments made on time, an 800 credit score, etc.  You would think this would not be the practice. I understand Capital One's concern on fraud.  This is why I offered to 1) either provide more information; 2) reapply for the credit card (and they waive the annual fee since I already paid); or 3) refund the annual fee and we both go both ways. 

[SanDAgo]

@Dalmus Apologies. I posted earlier to correct you on the 1 page statement. I see you re-read my original post about it. If they would have said, we need a 3 page statement, I would have complied. I tried to make it easier by submitting a bank statement that is one page because they required me to take a photograph (not a PDF copy) of the statement. 

[SanDAgo]

@Anonymous Honestly, I do not know if a massive wrong is done to many people. This is why I posted to inform everyone what happened to me. I did find other forums where people's accounts were restricted, but I'm reading it is relate to non-payment. Also, there are some people who submitted documents several times and Capital One kept responding the documents are illegible so the customer gave up trying. In those cases, I do not believe there was an annual fee. 

[SanDAgo]

@difringe  Thank you brother. I will let everyone know how the fight goes. 

[SanDAgo]

@Remedios Thank you for your response. I will try to answer each of your questions. 

Q: Assuming everything happened the way you stated and this is simply a case where Cap One is suspecting fraudulent account opening,  how come you're glossing over $4000 you spent and paid?

A: I do not understand the question. I am admitting to having charged the $4,000 on the account within 3 weeks. I have also paid the amount in full at the end of the month. Why would I harp on the money I spent, when I am not disputing it. If I were a fraudster, I would argue since Capital One suspects fraud, the charges are not mine but the money was paid from my account and demand a refund of $4,000. But thank God, I am not a fraudster and do not want to claim $4,000 that I did in fact spend and received the benefit of the purchases. 

Q: Why not offer them  entire bank statement showing money leaving your account, so if info on DL (name/address) matches bank account statement, it's painfully obvious you opened account and paid from your account. 

A: Please read my post. I have a one page bank account statement. I cannot for Union Bank of California to give me a bank statement with more than 1 page. There are no transactions on that bank statement. I did not provide my Bank of America statmement (where I paid the $4,000 from) because the statement was not issued by the time I responded to Capital One and I was trying to provide them the most recently dated statement. 

Q: When you applied, were you in USA or not? Did all transactions happened abroad starting with account opening? If you stay abroad for prolonged period of time, did you bother with offering proof of temporary residence? 

A: I was in the USA when I applied and received my card. Not all transactions happened abroad. There was a transaction for  to Customs and Border Protection for my Global Priority renewal that was processed online. I did not provide proof of temporary residency. I have a Quicksilver card with Capital One that I have been using abroad for 15 years and still use it today. The Quicksilver card and the Venture X card are registered to the same home address in the US. Bills are coming to the same address. They know I am abroad and travel for work. 

Q (or comment): I really do not understand fixation on AF refund and ignoring money you spent then wanting to start all over with a new Venture X.  

A: I did not want to start over with a new Venture X. I tried to amicably resolve the matter by offering to apply for a new card and they waive the annual fee (since I already paid on the "Permanently Restricted" card). This was offered to Capital One because I understand security and compliance, having advised many banks around the world on this same subject. If for some reason they cannot verify my identity, ALTHOUGH I HAVE A ANOTHER EXISITING CAPITAL ONE ACCOUNT WITH THEM, I am willing to placate and apply for the card again. The annual fee is about principle for me. 

Q (comment): You're willing to go through litigation for a little under $400, I don't think it's unreasonable for them to do same for tens of thousands of dollars. I suppose if you decide to purse legal action, you should find out what triggered account restriction during civil discovery proceedings. 

A: I do not deny their right to pursue their rights. I am willing to go through litigation, after having exhausted the options of: 1) offering to provide more documents / data; 2) reapplying for the card; 3) requesting a refund if options 1 and 2 are not feasible. To understand where I am coming from, this is not about the $395 annual fee it is the deceptive practice of pre-approving someone for $30,000 credit limit, who has an existing current credit card with Capital One, at the same address, using the same phone number, same email, same online account (username / password), same spending pattern, same social security number, same bank account, etc. etc. and then Permanently Restricting the card on the basis that there is a fraud alert and they are unable to identify me (an existing customer). 

If it were fraud and they cannot verify its me, shouldn't they reach out to the real me (not the fake me), but the real me who has an existing account with Capital One whose social security number was used to obtain the Venture X?    

[SanDAgo]

@Dalmus @bigseegar 

As Dalmus pointed out, I immediately complied when they flagged the account. I sent all of the required documentation. I even made a mistake and sent the bank statement date February 2021 (instead of February 2022), and then resubmitted it again when Capital One informed me that it was out of the date range. I wasn't aware that they wanted a photograph (not scanned copy of the DL), I took photos on my phone and sent it to them. 

I do agree with @bigseegar regarding the overseas charges. I suspect this may have been the cause for their concern. But they are not referring to the charges. They are asking to verify my identity, which I have done with the driver's license, bank statement (full statement), and social security information. 

In any event, I will post the judgment issued by the Small Claims court. The amount in controversy is too low for a general civil claim. 

[SanDAgo]

@notmyrealname23 Thanks for the input. I wonder if they determined that they would not recover anything from the bankrutpcy. I recall my friend informing me that they were aggressive. When I search the local civil / small court registry, there were many cases either filed against or by Capital One although they are not bankruptcy matters. 

I really didn't want it to escalate over $395. It was the manner in which they made their decision. Basically, Capital One cannot claim they are unable to verify my identity when I have an exisiting revolving Quicksilver account with them and have had it for the past 15 years. It would appear if there were any bit of customer service, they would have used logic to compare my two accounts and seen I make overseas purchases, have the same address, settle credit card bills from the same bank account, etc. I figure I will plead my case and, if unsuccessful, make them work for the $395. 

[Credit12Fico]

If they claim they cannot verify the identity of the cardholder, then they must have concluded the account was fraudulent. They should NOT leave YOU on the hook for the annual fee if they think the account is fraudulent. Simple as that. This is nonsense that you are going through. 

OP have you asked them if they believe the account is fraudulent?  Make them tell you that is the case, and then simply ask them why they will bill you the annual fee if they believe the account is fraudulent. Call them out. Make them squirm.