Capital One and Chase Freedom cancelled my credit cards. HELP!

[starry1]

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@River10 wrote:

10 people. I still dont understand why they would cancel me though since no one used the cards except for me. I even asked Capital One if that was the reason and she wouldnt answer me.

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Because you were gaming the system and getting paid for it.

[BrokaToe]

This is the way I would see it as a lender. By allowing folks to piggy back off of your credit profile, it creates unnecessary risk to othere lenders. Meaning when a lender pulls someones credit report, they are not getting an accurate picture of their credit profile. Thus creating more risk for not just them, but all lenders that person may come in contact with.

Not only that, but for those of us that take great pride in the work we've done to build our credit rating and worth while doing it by the book, it almost gives us all a bad name to creditors.  Again, just my 2 cents.

Edit: Allowing a relative or child to become an AU user is totally cool, but when you are capitalizing off of it, then it becomes a problem for everyone involved.

[L0RDAVENTAD0R]

Please tell me you at least got a pretty penny for your services.

[enharu]

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@River10 wrote:

10 people. I still dont understand why they would cancel me though since no one used the cards except for me. I even asked Capital One if that was the reason and she wouldnt answer me.

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You let 10 RANDOM STRANGERS who are paying you to be AUTHORIZED users on your card.

Meaning THEY CAN SWIPE YOUR CARD.

If one day one of them decide to rake in a 20,000 bill, YOU ARE RESPONSIBLE. Does the bank think you are going to pay? Obviously not. Thus the cancellation.

Regardless of whether this is legal or ethical, you know it yourself that you are never going to pay a huge bill if one of your AUs decide to screw you over. You know this, the banks prolly reached the same conclusion as you did, and you're cancelled.

With a situation like this, you don't really have anything to appeal.

[River10]

I realize its considered unethical and I apoligize if my post offends anyone but its not illegal from all I have read. Still, I stopped as soon as I found out Capital One was canceling me. I dont want to argue ethics with anyone. I sold my information and I can't undo that fact but no one but me used my credit cards. No one has told me that is why my card was canceled.   Does anyone have any suggestions about credit cards with high limits or any other advice other than ethics?

[09Lexie]

I hope for your sake you haven't been flagged.
To answer your question, I can't think of any lender that would start you off at $25K.

Sorry

[enharu]

With any other advice? Not really. The banks flagged you for good reason. I doubt there is anything you can do to appeal that decision, unless you can manage to cook up some convincing story.

Are those people even remotely related to you? If they are, you have a shot at it. If they're random strangers spread across different cities and states in America, you're pretty much screwed.

You will still be able to apply for new cards with other banks. I am not sure if you can get any cards with Chase or Capital One for the time being. They might have even blacklisted you.

[River10]

I got my good credit by hardwork also.I started out at age 18 with no credit. Over the years of paying my bills on time-every time my scores increased as well as my limits. I did not ask for the increases I got over the years, they automatically gave them to me. Hindsight is 20/20. I shouldnt have sold my information but I did. You cant beat me up over it any more than I have beat myself up. It seemed harmless to me at the time. I felt like I was helping folks who needed a hand and I was getting paid for it.  I came here for credit advise. I will seek forgiveness in church Sunday as I do every Sunday from the only one I know of who can give it.

[enharu]

Just apply for new cards with new banks. Avoid Chase and Capital one for the next couple years. I doubt they'll approve you for anything and you will just be wasting inquiries.

If your income is high enough, some banks might start you off with a high CL. You might just need to fax in tax return forms and related documents to prove income and legal status in America.

[River10]

The really strange thing is Capital One has already sent me a letter to apply for another card, saying I was preapproved. Of course I didnt take it.