CapitalOne just canceled all of my Credit Cards because I guess I used them to much.

[Anonymous]

Today I loged into my capital One account to see this message This account is currently restricted. (Ref. No. 10016.8481).  And noticed all my rewards balances were zero.

I called CapitalOne to find out what the deal was.  The only thing they could tell me is my purchase history is not consistant with home or personal use.  Since when are we limited to what we can use are cards for there is nothing in the terms and conditions that states these cards are restricted to home or personal use.  I had the Spark Buisness card and the Venture card with total credit line between the 2 cards of $45,000.  I am reseller and would charge any where from $25,000 to $200,000 between the 2 cards in any given month.  I guess it is to much for capitalOne to handle.  After 7 years with them they cut me off.  Was definatly a shock.  I thought credit card companies make money the more we charge.  The bad part is I had $1900 in miles on the venture card I could have cashed out for full value instead they cashed it out for me at only 50% value.

Thanks CapitaOne.

[redpat]

They bagged you for the use of your Venture for business........Or if you have merchant account did you run your venture through?  

CO is pretty good at letting things go but they might have had the course because of the volume.  Maybe you should of applied for another business card with that kind of volume. 

[Anonymous]

Just my opinion but I bet the use of the Venture for large amounts is what did you in.  Because most credit card companies frown on using personal cards for business expenses. 

[iced]

It's slightly off topic I apologize, but why would a bank care if you ran business expenses through a personal card? Airfare is airfare, merchandise is merchandise, and restaurants are restaurants....aren't they?

[Anonymous]

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@iced wrote:

It's slightly off topic I apologize, but why would a bank care if you ran business expenses through a personal card? Airfare is airfare, merchandise is merchandise, and restaurants are restaurants....aren't they?

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Because they have business cards for business use.

[Anonymous]

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@redpat wrote:

They bagged you for the use of your Venture for business........Or if you have merchant account did you run your venture through?  

CO is pretty good at letting things go but they might have had the course because of the volume.  Maybe you should of applied for another business card with that kind of volume. 

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+1

[Anonymous]

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@Anonymous wrote:

Today I loged into my capital One account to see this message This account is currently restricted. (Ref. No. 10016.8481).  And noticed all my rewards balances were zero.

I called CapitalOne to find out what the deal was.  The only thing they could tell me is my purchase history is not consistant with home or personal use.  Since when are we limited to what we can use are cards for there is nothing in the terms and conditions that states these cards are restricted to home or personal use.  I had the Spark Buisness card and the Venture card with total credit line between the 2 cards of $45,000.  I am reseller and would charge any where from $25,000 to $200,000 between the 2 cards in any given month.  I guess it is to much for capitalOne to handle.  After 7 years with them they cut me off.  Was definatly a shock.  I thought credit card companies make money the more we charge.  The bad part is I had $1900 in miles on the venture card I could have cashed out for full value instead they cashed it out for me at only 50% value.

Thanks CapitaOne.

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It's hard to get Capital One to inflict AA. I think you pushed the envelope to hard.

[Anonymous]

200K in purchases a month? You HAD to have seen this coming. That would raise eyebrows with anyone. If you're running a legitimate business, part of that is working with a financial institution that is on board and supports that type of load.

[Anonymous]

I did, used the Spark Busness card.  The funny thing is I used the venture for the busness for 3 years before getting the spark.  Had the spark only 3 months.  It is crazy they shut them all down.....Charged over $200k for he month of December.  I read the terms and conditions.  There is no restriction from busness to personal.  

[Anonymous]

Well they supported it tell now.  I did not see this coming I used the Venture card for years for this.  initial credit line was 5k and they increased it all the way to 30k when I asked for a manual review for credit limit increase.  December 2015 I charged about 117k on the card no problem.  This last December signaficantly more.  As a reseller I need a big revolving credit line and CapitalOne provided that knowing what I am doing.  As I said I applied for the spark in October and I had to disclose information about my buisness and they instantly approved me for 15k.  If they want to close the Venture card I get that because as they said I used it for non personal / houshold items.  But why cancel the busness card you just gave me.  I was blindsided.