08-04-2011 11:55 AM
not just capital one, most if not all CC issuers. they don't like to see their cardholders take advances, it screams "high risk" and sets off huge red flags. if you ever take a cash advance out on a CC (which i personally do not recommend and would never do myself), do not carry it as a balance. PIF asap or risk getting an AA letter in the mail.
08-04-2011 02:24 PM
I can understand why your mad. It is what it is. I agree, any card company that offers cash advance shouldn't get suspicious, after all you can charge it up with purchases and not pay either, so what's the difference. That being said, it will make them nervous. Just establish more history with them and you will be fine. These people that talk about Capital One being "sub-prime" are full of it. Capital One offers prime cards as well, so..Don't let it make you mad, it just spooked them maybe.
Credit cards are trackable, cash is not. In the of a identity theft, as in what Cap1 probably suspects in OP's case, the supposed crooks can just make away with the money and be gone.
08-04-2011 03:26 PM
Re:the supposed crooks can just make away with the money and be gone.
Can't the supposed crooks make off with the goods as well? Cameras are everywhere. Especially on ATM and inside banks.
CCC's take a risk giving any one a card. PERIOD
But Anyway, LOL
08-04-2011 04:54 PM
Good point. However, statistically speaking, when a card holder takes out a CA for a sizeable amount of their CL or when they max out their card; the likely hood of default increases exponentially. These are major indicators and they send CCC's scurrying in a mad panic. AA letters soon follow.
08-05-2011 10:33 AM
Appreciate the feed back from everyone. I now have a better understanding on why this action was taking againest my account. I know now that I will not make this mistake again. Lesson learned!
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.