Yes. If you did that well in calculus in high school, you should not be in a college algebra class now. At worst, you should be taking pre-calculus.
If I were you, I'd look into what happened. It's always possible that a mistake, an administrative error, was made. When I arrived in college, I discovered that my record was full of incorrect information about my AP exams, my background -- several things -- and this was at Yale! I'd gotten mixed up with another student who had a similar name.
Of course, it's also possible that your high school just wasn't very good. Sometimes people don't discover that until they get to college and perform there far less well than they did in high school.
You should not be wasting time in college algebra if you've taken calculus. Look into this.