03-08-2013 09:38 PM
I've had credit for over 35 years. I've NEVER paid a late payment in my life on anything. A few months ago Capital One cancelled my credit card of over 15 years which had a limit of 17,000.00. Tonight I just signed into my Chase Freedom account Ive had over 12 years with a limit of 23, 700.00 only to find out it too has been cancelled. I called the customer service line and spoke with several people. Finally I got a supervisor. He agreed that I had never missed a payment, never been late. He stated that it must be a very sensitive matter since he could not find the reason I was cancelled. I'm in shock and disbelief. When Capital One cancelled me they didn't give me a reason. They sent a flimsy letter that said they were canceling per my request. I called them and told them I didn't request my card be cancelled. After speaking with several Capital One reps I finally called the executive office, who just stated they were canceling, giving no reason and there wasn't anything I could do about it. Once I realized they really intended to cancel me I did send a not-so-nice nice letter to Richard Fairbank. Maybe I shouldn't have but I was po'd. Now Chase evidently is following suit. Has this ever happened to anyone else? Does anyone know if they can legally do this or what I could do to prevent them from canceling? ? All three of my credit scores are well over 740 and that's after taking the hit of Capital One canceling me. I don't carry balances on any of my credit cards so that's not an issue. I don't want to lose my limits though. Please help! Anyone?
03-08-2013 09:42 PM
Did you check your credit reports to see if some kind of collection or judgment was inserted?
03-08-2013 09:46 PM
yes, I tired to pull all 3 credit reports as soon as I found out Capital One was going to cancel me. I wasnt able to get the transuion report, will have to mail for it but experian and equifax were flawless. I'm desperate at this point. Should I try to get new credit cards and if so who would give me high limits? They guy I spoke with tonight from Chase seemed almost as stunned as I was. He clearly stated he coudlnt see any reason for the cancellation and gave me a number to call but the number only works Mon - Fri 9am - 5pm eastern. I cant find out anything over the weekend.
03-08-2013 09:52 PM
03-08-2013 10:01 PM
I have an ex wife but I dont think she would do that,besides after I called they said it was them canceling me but wouldnt give me a reason why. I spoke with a woman named Tamra at Capital One and she mentioned something about fraud but there hasnt been any fraudulent activity on my credit or credit reports. The only thing I can think of is I did let some people piggy back off my credit for about six months. They had no access to my cards or my information. I researched it. I couldnt find anything about it being illegal. It might be considered unethical though. I was paid a small amount for doing this. I stopped doing that as soon as Capital One cancelled on me.
03-08-2013 10:07 PM
03-08-2013 10:07 PM
03-08-2013 10:09 PM - edited 03-08-2013 10:12 PM
l'm not up on the latest fraud lingo...What do you mean by, they were "piggy backing" off your credit?
Edit: Ahh nvm, I see now after googling. It's basically an AU, only they have to pay you to become the AU. That's pretty crappy in my book. Don't want to offend, just my opinion.
03-08-2013 10:17 PM
This really does not add up. Had to be something to spoke them or some foul play.
TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!
03-08-2013 10:18 PM
who were you exactly letting to "piggyback" off you? If they're your sons/daughter/wive/DIRECT relatives, you have a very strong case.
They told you it's fraud related. Could someone have impersonated you to cancel? Or was there some suspicious activity on the cards that triggered all these actions?
This is a stupid question by me, but you made sure its a permanent closure, not one where they reopen 3-4 days later with new account and card numbers?
Did you go on an app spree recently, got fired from your job, took up any huge loan, or did anything major change in your life?
Banks reserve the right to cancel anyone's cards at any point in time w/o any reason required. However it is weird for them to do anything like this without any reason.
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