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Capital one AA

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Anonymous
Not applicable

Re: Capital one AA


@Dalmus wrote:

@CreditCuriousity wrote:

Got the online letter.. Here is what it said..

 

We are committed to keeping you informed about changes to your account, so we are notifying you of a recent change to your account ending in xxxx.

 

Based on your account usage and bureau history, we have changed your credit limit from $34,500 to $10,000.

 

You'll find the specific reason(s) for this change below: -

 

Credit limit(s) are too high -

Current account(s) not used enough -

Balance(s) on non-Capital One revolving trade(s) are too low

 

We hope this change does not cause any inconvenience for you. And don't worry-none of your other card features have changed at this time. For information regarding your credit score, please consult CreditWise ®, our free credit monitoring service at creditwise.capitalone.com. If you have additional questions, feel free to call us at 800-955-7070, where our customer service representatives are available Monday through Friday from 8 a.m. to 7 p.m. ET. Thank you for being a Capital One ® customer.

 

Regards, Capital One


 So they want you to carry a higher balance on your non-Cap1 cards?  That seems to go against what would make THEM more money.  You'd think they would be complaining that the balances on Cap1 cards are too low!


They said that too. Read the email.

Message 81 of 155
scottwagnon
Valued Contributor

Re: Capital one AA

Similar reason for me; I was declined twice in the last year and a half because TOO FEW of my non-capital one accounts had balances.. seriously capital one, do you want me to carry more balances on more cards, REALLY!!
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Message 82 of 155
longtimelurker
Epic Contributor

Re: Capital one AA


@sarge12 wrote:

CreditCuriosity...saw earlier today where someone got an unexpected Cap1 increase in CLI to 4000 from I think 600 today...it was all I could do to keep from saying he got 4k of YOUR credit limit.Smiley Very Happy Sorry Cap1 doesn't love you anymore 35k to 10k...thats rough.


Nah, it came from my CL.   Mine went from $35K to 10K, down $25K.   CC on the other hand suffered a mere $24,5K drop which is COMPLETELY different and hardly worth mentioning!

Message 83 of 155
sarge12
Senior Contributor

Re: Capital one AA


@longtimelurker wrote:

@sarge12 wrote:

CreditCuriosity...saw earlier today where someone got an unexpected Cap1 increase in CLI to 4000 from I think 600 today...it was all I could do to keep from saying he got 4k of YOUR credit limit.Smiley Very Happy Sorry Cap1 doesn't love you anymore 35k to 10k...thats rough.


Nah, it came from my CL.   Mine went from $35K to 10K, down $25K.   CC on the other hand suffered a mere $24,5K drop which is COMPLETELY different and hardly worth mentioning!


longtimelurker...sorry I short changed you...er..well, why not, you are probably used to it after Cap1 CLD! Smiley Tongue

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 84 of 155
Anonymous
Not applicable

Re: Capital one AA

Wow! It seems that you have victory and reason to celebrate Smiley Happy Congrats on the approval
Message 85 of 155
bourgogne
Valued Contributor

Re: Capital one AA

sorry for the cld but no great loss closing them imo, they are for rebuilds which you are not.  was the explanation also in the documents area in the portal?  what is your total exposure in revolving credit?  they have taken a ~$10 hit in a month, I am sure they are busy fine tuning there model a bit.

Message 86 of 155
longtimelurker
Epic Contributor

Re: Capital one AA


@bourgogne wrote:

sorry for the cld but no great loss closing them imo, they are for rebuilds which you are not.  was the explanation also in the documents area in the portal?  what is your total exposure in revolving credit?  they have taken a ~$10 hit in a month, I am sure they are busy fine tuning there model a bit.


In my case I received an email telling me that there was a document available in the doc center, and the letter, including the reasons, was there.  I haven't (yet) received any actual mail.

Message 87 of 155
bourgogne
Valued Contributor

Re: Capital one AA


@longtimelurker wrote:

@bourgogne wrote:

sorry for the cld but no great loss closing them imo, they are for rebuilds which you are not.  was the explanation also in the documents area in the portal?  what is your total exposure in revolving credit?  they have taken a ~$10 hit in a month, I am sure they are busy fine tuning there model a bit.


In my case I received an email telling me that there was a document available in the doc center, and the letter, including the reasons, was there.  I haven't (yet) received any actual mail.


gosh, you too...did not catch that.  how disappointing.  same ?s, what is your total cc revolving exposure and util?  I would think I make this list, no use at all anymore and I dont intend on any.  chase only spend and a bit of ax tossed in for seasoning

Message 88 of 155
CreditCuriosity
Moderator Emeritus

Re: Capital one AA


@bourgogne wrote:

@longtimelurker wrote:

@bourgogne wrote:

sorry for the cld but no great loss closing them imo, they are for rebuilds which you are not.  was the explanation also in the documents area in the portal?  what is your total exposure in revolving credit?  they have taken a ~$10 hit in a month, I am sure they are busy fine tuning there model a bit.


In my case I received an email telling me that there was a document available in the doc center, and the letter, including the reasons, was there.  I haven't (yet) received any actual mail.


gosh, you too...did not catch that.  how disappointing.  same ?s, what is your total cc revolving exposure and util?  I would think I make this list, no use at all anymore and I dont intend on any.  chase only spend and a bit of ax tossed in for seasoning


His were exact same reasons as mine

Message 89 of 155
HeavenOhio
Senior Contributor

Re: Capital one AA

The part that's a drag is that it's like the rules have changed in the middle of the game.

 

But these companies don't have to tell us the rules in the first place. Utilization too high? Cut the limit. Utilization too low? Cut the limit.

 

At least in this case, people's utilization hasn't been hurt appreciably. It's not like CapOne is balance-chasing.

Message 90 of 155
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