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!!! Capital One Just Closed All 4 of My Cards !!!

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taxi818
Super Contributor

Re: !!! Capital One Just Closed All 4 of My Cards !!!


@Anonymous wrote:

So....

 

Went online this morning to pay all my bills and see that all 4 crds had account restricted in red lettering....and to call. I call in and the rep says that i will be transfered to the executive escalation team,

 

The rep gets on and tells me that all 4 cards have been closed because of "past, present, or pending" legal action".....I told the rep I had no idea what she was talking about...yes I had civil actions years ago durring my divorce (have spoken about that) but my credit is perfect....nothing bad at all...pay all my accouts in full every month.

 

So mad and upset right now....if anyone has gone through this can they please let me know what the hell is happening??? If you want to pm me thats fine...but I am trying to gain clarity here and I am utterrly distraught.

 

Ps.  My cap one checking acccount is still open...and the rep told me that the cards would reflect closed by consumer on my cr.....

 

I will be in meetings most of the day...but will be checking this thread so, any advice or information would be most appreciated....

 

Thanks so so much guys....just reall sad now.

 

Gregg

 

 


Yikes!!! From Cap one as well. I wonder what spooked them?

Message 71 of 219
Ghoshida
Valued Contributor

Re: !!! Capital One Just Closed All 4 of My Cards !!!


@longtimelurker wrote:


Yes, this, but also once the issuer has decided to basically get rid of someone as a customer, there is no upside for them to be involved in a discussion.   So while we are discussing possible mistakes, remember that there are probably far more cases where the person really has engaged in increasingly risky behavior.   So if I  give you some of the reasons ("You have 48 inquiries in the last month and have maxed up nearly 20 cards") I can be caught up in unproductive conversations ("I had to because", "it was my girlfriend who did all those charges" etc) and given enough examples, people in forums like here would attempt to reverse engineer the risk algorithms ("With Chase, you can have an average of 56% util providing no single card is above 63%" etc).   Much better just to say "Too many inquiries and too high balances, we are closing the card (or reducing limits)"

 


Good point; basically the bank would want to reduce headaches.

 

Basically the reason behind Cap One putting up a list of generic decline messages and another list of generic solution methods but always with the caveat that even if all decline reasons are addressed, Cap One doesn't guarantee a credit (limit increase) approval.

 

I must note that a consumer engaging in (sometimes angry) discussion is much more likely if she has been CLD'ed rather than simply declined a CLI or new credit. Reasons might be vaguer in the first case, from that respect. Is it fair? No. Does it reduce the banks' operational expenses? Yes! 

Message 72 of 219
Anonymous
Not applicable

Re: !!! Capital One Just Closed All 4 of My Cards !!!


@Anonymous wrote:

@Officer737 wrote:

I think it may some sort of mix up. They may have gotten a BK notice with similar name and DOB on it and restricted the accounts. They get those electronically from the courts and the clerk may have transposed the the SS# or identification information. As for LexisNexis, I don't trust them as far as I can throw them. A few years ago I was insurance shopping and was informed that I was showing a wreck on my MVR. I informed the insurance company that I have not had a wreck and they informed my they got the information from LexisNexis. I called LexisNexis and spoke to a very rude POS who stated "yes you did have a wreck, I have the information right in front of me, the wreck was on June 5, 2012 and you were driving a white Chevy Impala registered to you". I informed the person that I have never owned a Chevy Impala and wasn't anywhere near where the wreck happened that day. I asked them the diver's license number on the report and the driver's vital information, They rattled off the name, address, date of birth, race, gender and such. I quickly informed them that yes the name was similar, I have lived on the same street years ago, but my driver's license number was completely different and that I was a white male and not black male and the social security number was wrong!! The idiots then informed me that since there a small amount of adat that was similar, they stuck someone else's wreck on my MVR! Then to add insult to injury, after I sent them everything to prove that it wasn't who had the wreck they advised me that it would stay on there until the insurance agency reporting the wreck changed it. Hence comes in State Farm. I called the corporate office and went thru their hoops tracking the original report down and they stated that they are not reporting the wreck but an independant agent in my city was and they gave me all of their tracking information. I called the local agent and had a heated discussion with me about getting it removed and they basically informed tough **** we are going to keep reporting it no matter what you prove. So now every time I get a quote I have to call the company directly and verify the information with them before I can get an accurate quote. My MVR gets reviewed every year because I drive a government vehicle and it does not show the wreck on the official MVR but because LexisNexis reports it on their system, every quote is several hundred dollars higher and causing a royal pain in the rear.


That's horrible, officer, sorry that happened. I don't think these agencies that retain data do much in terms of verifying they have the correct person. For almost 2 years I had another person's address popping up periodically on my EQ, and I didn't even know that person - somehow made it on there because he had the same last name. Great quality control.

 

I hope Gregg is ok and this gets resolved.


Now that I know LexisNexis is guilty of. They were the reason our insurance on our home went up after the original quote. They claimed that we had muiltiple hail damage claims and come to find out it was not us. It was my DH moms house and because he used that address until we bought our house it went in his report as multiple claims. No amount of explaining did anything. Good thing she has the same insurance company we have, they had to straighten it out and I believe that only happened because we were friends with the agent. Same thing happened with our car insurance. Had claims on there and wrong annual mileage on a practically new truck. OP I hope everything works out I know with all of the hard work I've put in for the last year I would be knocking on Cap1 main office doors.

Message 73 of 219
tntexans72
Valued Contributor

Re: !!! Capital One Just Closed All 4 of My Cards !!!

Why would cap1 took this course of action and other banks don't? Sorry to hear, going through a divorce is painful enough...now this? Stay strong my friend and hope it will all resolve in your favor. 

Message 74 of 219
Anonymous
Not applicable

Re: !!! Capital One Just Closed All 4 of My Cards !!!


@lg8302ch wrote:

There was another thread but unfortunately without any information on the outcome

 

http://ficoforums.myfico.com/t5/General-Credit-Topics/Is-it-LEGAL-for-a-creditor-to-close-your-accou...


Wow! I read this and he never responded on what happened. This is puzzling!

Message 75 of 219
LadyJEsq
Established Contributor

Re: !!! Capital One Just Closed All 4 of My Cards !!!

So sorry this has happened to you Gregg. I know it was hard to do, but hope you were able to focus on work today. Please keep us all posted on the outcome. 

 

I don't understand the complaints regarding the discussions of the other CRA. Most of us are here to get data points from other members and some of those points come from the supposed "OT" portion of the thread. Not to mention, the points could actually be helpful to the OP. Since he's already checked the known sources and still doesn't know why C1 took this action, maybe he should check these other CRA. And as evidence by this thread, it appears they're not known for accuate information.

 

Seems to me, these are good places for Gregg to start, not going to Credit 101 (or whatever was suggested) or Google. That's the opposite of helpful if you ask me. 

**FICO 8 Scores EQ EX TU **


Message 76 of 219
wacdenney
Valued Contributor

Re: !!! Capital One Just Closed All 4 of My Cards !!!


@LadyJEsq wrote:

 

I don't understand the complaints regarding the discussions of the other CRA.


The urge to over sort is particularly strong on this board.  More so than any other forum I have personally ever participated in.

 

You would be amazed how much good useful information goes unseen and suffers the dreaded death by smorg around here.

Message 77 of 219
LadyJEsq
Established Contributor

Re: !!! Capital One Just Closed All 4 of My Cards !!!


@wacdenney wrote:

@LadyJEsq wrote:

 

I don't understand the complaints regarding the discussions of the other CRA.


The urge to over sort is particularly strong on this board.  More so than any other forum I have personally ever participated in.

 

You would be amazed how much good useful information goes unseen and suffers the dreaded death by smorg around here.


I thought it was just me! 

 

Not really, the force is stronggggg on this board! Smiley LOL

**FICO 8 Scores EQ EX TU **


Message 78 of 219
bldmt
Regular Contributor

Re: !!! Capital One Just Closed All 4 of My Cards !!!

After reading Jdana's post I went and read through the link to the similar case by OP Phoenix and this caught my eye "Around the time it happened there was a class action against them regarding protection plans or something and I asked was it that and they said no. I've been trying to investigate it with out any help from them at all.". All went quiet shortly after that. Is it possible that they scan their cardholders lists and match names to anyone listed as a participant in a class action?

Message 79 of 219
Imperfectfuture
Super Contributor

Re: !!! Capital One Just Closed All 4 of My Cards !!!


@bldmt wrote:

After reading Jdana's post I went and read through the link to the similar case by OP Phoenix and this caught my eye "Around the time it happened there was a class action against them regarding protection plans or something and I asked was it that and they said no. I've been trying to investigate it with out any help from them at all.". All went quiet shortly after that. Is it possible that they scan their cardholders lists and match names to anyone listed as a participant in a class action?


But what class action would OP be in on?

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Message 80 of 219
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