@Ysettle4 wrote:Let me get this straight...seriously.
capital one closed out an account that they have "secured" funds for incase the OP bails on them because he/she is categorized as "high risk". **bleep**?!?!?! Doesn't even apply (or should IMO) because it's not like this is an "unsecured" TL where there is a possible "flight" risk. Just when you've thought you've seen everything.
capital one is a joke.
Actually, there's more to the thread (two threads) than that. OP has one secured card with CapOne, and only the one card in OP name. Simple. AU on several other cards. ok.
One of those AU cards suddenly reports a $50,000 open balance amount, and while it is now PIF, because it's on a charge card, that $50k is still showing up as a sudden charge / add to OP's CR.
thus the alarms at CapOne seem to have been triggered.
Capital One is not a joke. It is a bank, like any others, and is willing to take risks on people when their credit is marginal, is known to be marginal, for small amounts of CL, like $500. Get them out of their comfort zone, and like any bank, they will seek to reduce risk.
@taxi818 wrote:
@NRB525 wrote:
@Ysettle4 wrote:Let me get this straight...seriously.
capital one closed out an account that they have "secured" funds for incase the OP bails on them because he/she is categorized as "high risk". **bleep**?!?!?! Doesn't even apply (or should IMO) because it's not like this is an "unsecured" TL where there is a possible "flight" risk. Just when you've thought you've seen everything.
capital one is a joke.
Actually, there's more to the thread (two threads) than that. OP has one secured card with CapOne, and only the one card in OP name. Simple. AU on several other cards. ok.
One of those AU cards suddenly reports a $50,000 open balance amount, and while it is now PIF, because it's on a charge card, that $50k is still showing up as a sudden charge / add to OP's CR.
thus the alarms at CapOne seem to have been triggered.
Capital One is not a joke. It is a bank, like any others, and is willing to take risks on people when their credit is marginal, is known to be marginal, for small amounts of CL, like $500. Get them out of their comfort zone, and like any bank, they will seek to reduce risk.Very well stated. Correct. They are bank like any other. Trying to make profit. The problem. People feel entitled so they bash many banks. Discover. Cap one. Barclays. So on. Because they are not following the script of that entitled attitude.
I agree, still don't like them though
... They just don't seem to keep up being Cap1... Discover is hit and miss, not real issues at least for me with Barclay's.. Ya all about me, jk.
@wacdenney wrote:I'm still not understanding where the risk lies on a secured card. What risk? If you don't pay they take your deposit. Where exactly is the risk?
The risk is that a representative will have to lift a finger. That's a mortal sin over at Capital One. 
@Anonymous wrote:
@wacdenney wrote:I'm still not understanding where the risk lies on a secured card. What risk? If you don't pay they take your deposit. Where exactly is the risk?
The risk is that a representative will have to lift a finger. That's a mortal sin over at Capital One.
Someone had to take a break from their script reading duties to close the account...
I'm honestly not understanding. People keep talking about the "risk" they must have percieved but I'm not getting where exactly this percieved risk is coming from on a secured card account.
@wacdenney wrote:
@Anonymous wrote:
@wacdenney wrote:I'm still not understanding where the risk lies on a secured card. What risk? If you don't pay they take your deposit. Where exactly is the risk?
The risk is that a representative will have to lift a finger. That's a mortal sin over at Capital One.
Someone had to take a break from their script reading duties to close the account...
I'm honestly not understanding. People keep talking about the "risk" they must have percieved but I'm not getting where exactly this percieved risk is coming from on a secured card account.
Must be the same logic that causes people to get declined for secured cards
@Anonymous wrote:
@wacdenney wrote:
@Anonymous wrote:
@wacdenney wrote:I'm still not understanding where the risk lies on a secured card. What risk? If you don't pay they take your deposit. Where exactly is the risk?
The risk is that a representative will have to lift a finger. That's a mortal sin over at Capital One.
Someone had to take a break from their script reading duties to close the account...
I'm honestly not understanding. People keep talking about the "risk" they must have percieved but I'm not getting where exactly this percieved risk is coming from on a secured card account.
Must be the same logic that causes people to get declined for secured cards
There is a point of risk where even a secured line is unapprovable.
@Anonymous wrote:
@Anonymous wrote:
@wacdenney wrote:
@Anonymous wrote:
@wacdenney wrote:I'm still not understanding where the risk lies on a secured card. What risk? If you don't pay they take your deposit. Where exactly is the risk?
The risk is that a representative will have to lift a finger. That's a mortal sin over at Capital One.
Someone had to take a break from their script reading duties to close the account...
I'm honestly not understanding. People keep talking about the "risk" they must have percieved but I'm not getting where exactly this percieved risk is coming from on a secured card account.
Must be the same logic that causes people to get declined for secured cards
There is a point of risk where even a secured line is unapprovable.
I know. It just seem illogical when you first hear it.
@wacdenney wrote:I'm still not understanding where the risk lies on a secured card. What risk? If you don't pay they take your deposit. Where exactly is the risk?
My point exactly! Ofcourse there are other ways they determine he/she to be a rsik but still, th OP has a $3K secured liine with them and had arunning balance of $300. So what he was an AU on which someone run it up to $50K then PIF the next go around.
Yeah yeah yeah, banks are still banks and are present to make profit - not loose their arse
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