Capital One Credit Card Complaint

Capital One Credit card department,

Customer service / Customer relations Virginia

Capital One received a cashier 's check by mail to be applied to my credit card balance. The account updated stating payment was received on -/-/2016 and posted on -/-/2016. Although, the credit card reflected a credit for an overpayment, the available credit on the account remained at $20.00. When calling to inquire about the available credit, I was informed that the payment had been placed on hold for 9 days. I questioned the legitimacy of the hold for a cashier 's check less than $5000.00 considering REG CC requirements. I was told by the manager that a hold can be placed on ANY payment without an explanation regardless of the form of payment used. No attempts were made to verify the check. Not to mention the credit card is fully secured by my funds. When asked what the reason was for the hold, I was told no specific reason could be given and that it could be several causes. I was alarmed by the response and said that it sounded like a violation of a federal regulation. When denied credit, a reason must be given. When funds are placed on hold in a deposit account, a reason must be given. Unfortunately, Capital One states, no reason is necessary for holding funds applied towards a credit card. After attempting to reason with the manager, I was only shot down multiple times. By the time this is resolved, I 'm likely to have access to my funds. But, the idea that they can make rules that go against federal regulations and inconvenience their customers without an explanation is my concern. No business should be able to impose limitations to access of one 's own funds without an explanation.