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New Member
River10
Posts: 16
Registered: ‎12-26-2012
0

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

 I allowed people to become authorized users on both my chase and capital one cards for a few months to boost their credit scores. I was told it was legal. I googled and googled and everything said it was legal but not considered eithical by some people. It was a legitimate website. I even got a 1099 tax form from it but as I said, I stopped as soon as Capital One said they were canceling me. Some people believe that by becoming an  authorized user it will boost a their credit score. Since they had no access to my information and I was getting paid for it I allowed it. Wish now I hadn't. I do have other credit cards. I have Discover, Bank of America, Fidelity, Walmart Discover, Home Depot, and Citi Bank but a 23,700 decrease is my limits will hurt my excellent credit scores...won"t it? I have credit monitoring also and havent gotten any alerts. No unauthrized activity of any kind on any of my reports.

New Member
River10
Posts: 16
Registered: ‎12-26-2012
0

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

I've not had any changes in my life in over 3 years. My income is still high, my scores are high. Ive not been on any app spree however when capital one cancelled me I did get a Fidelity Visa to keep my limits up so my scores wouldnt drop very much. They dropped some though and I am afraid if Chase cancels me my scores will plunge. I've had good credit all my life. Never paid a late payment. Usually dont carry a balance at all. I've used all of my cards a little about every other month or so to keep them active.

Moderator
09Lexie
Posts: 25,419
Registered: ‎09-13-2012
0

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

Did the company who issued the 1099 have any run ins with these cc's? I mean if the business was being watched or investigated for this activity- that form of misrepresentation could cancel your cards.

Really? Getting paid? a 1099? I can't even believe this isn't legal- truly unethical.
New Member
River10
Posts: 16
Registered: ‎12-26-2012
0

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

I didnt know the people who piggy backed off me. They were not relatives.  I had and still have all their information though including copies of their socials, drivers lisences, etc. As soon as the authorized user accounts  hit the credit agencies for one month I was paid and they were removed as authorized users. I got paid the same if it helped their scores or not.

New Member
River10
Posts: 16
Registered: ‎12-26-2012
0

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

I dont know if they had any runins with the credit card companies or not. I knew someone who had done business with this company for several years and she never had a problem. She still doesnt have any problems with them. She also gets a 1099 every year.

Moderator
09Lexie
Posts: 25,419
Registered: ‎09-13-2012
0

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

Again, sounds like someone got onto your 'job' and didn't like being misled. Hence, the cancelled cards. May I ask, how many times did you sell your info?
I can just imagine the red flag that went up if its a high number.
Community Leader
Valued Contributor
starry1
Posts: 2,095
Registered: ‎11-29-2012
0

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

I have to agree with lexie, even if its not illegal, its still extremely shady.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 8/30/14 TU 611; EQ 650; EX 640
Goal Score:  625 for now– New goal 675

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Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012
0

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

Yep, I almost feel ashamed even reading this thread :smileyembarrassed:


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New Member
River10
Posts: 16
Registered: ‎12-26-2012
0

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

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.

Moderator
09Lexie
Posts: 25,419
Registered: ‎09-13-2012
0

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

I am still trying to wrap my head around 'I get a 1099'.

Shaking my head!

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