Massive CLD from Cap One

morgacj2004 · ‎08-02-2017

So my wife recently logged into her Cap One Venture One account which currently has a zero balance. The CL has been 46.5k for more than one year since she combined and closed her other CO cards. The CL suddenly went to 10k with no explanation. We took advantage of several zero APR BT transfers with a 2% BT fee but just paid the balance off last month prior to the grace period expiring. No late fees ever. She is the authorized user on my Venture card. My CL remains at 23k with no CLD. Anyone else have this issue with Cap One. Honestly it is not a huge deal and the only reason we kept the card open was for the BT deals that we freq were offered. But still wondering why they took this step ?

AX Hilton Aspire 20k, AX Bonvoy Brilliant 15k, AX BCP 2k, AX Blue Bus Cash 15k, AX Delta Air Platinum 49k, (AU) AX Delta Gold 15k, AX Amazon Prime Bus 25k, BC Uber 29k, AKUSA FCU -10k , CITI AAdvantage Exec World Elite MC 16.5k, Discover (2) 16k, Kohls-4k, VS Comenity $3k, BofA AK Air Siggy 9.8k, WF Propel AX 5k, JCP $10k PFCU Plat Rewards Siggy 39.5k, PFCU Power Cash Rewards AX 10.5k, NFCU Flagship 50k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $9k,Target MC 9k, Ulta MC Comenity 9k, Pay Pal 1k, CO Venture One 23k, US Bank Radisson Rewards Signature 10k, US Bank Fred Meyers World MC, 11k, US Bank Plat VISA 15.7k, VS Comenity 2k, 240k total available credit. Utiliz-2%, Current FICO EQ-724, EX 763,TU 802 ,Chapt 7 BK D/C 11-2012. Starting scores 520-550

longtimelurker · ‎08-02-2017

Mine went from 35k to 10k. They explained it was because of low usage. (which made sense, why waste a large credit limit for a very small return)

Anonymous · ‎08-02-2017

Both LTL and CreditCuriousity had same thing happen but of course they both deserved it. j/k

Sorry that this happened to your wife.

BungalowMo · ‎08-02-2017

Some cards are like that. I know some folks have great luck with Cap 1...like you, and others can't win...like your wife, and myself.

I apped with them last week (3rd time in about 8 years)...denied again! Had 790 FICO's....go figure.

They hate me & I hate them back.

BK 7 discharge 06.24.2020 No Fico score at all.

Credit-hoarder · ‎08-02-2017

@longtimelurker wrote:
Mine went from 35k to 10k. They explained it was because of low usage. (which made sense, why waste a large credit limit for a very small return)

WOW--In the 4 years I've been on this forum I've never known CO to take AA on someone other than for not paying their bill! I was planning to try and combine my 2 $15K Ventures into one eventually--but the heck with that now! In the meantime I think I'd better make sure I throw a few swipes on them every now and then for good measure.

BUSINESS

Rewards Pts.-Miles: UR-MR-TYP-Venture

driftless · ‎08-02-2017

I have been reading these threads, and now this one, about Cap One's CLD's with some concern. Cap One has always been a "rock" for me, they really helped me through my rebuild. This is starting to shake that confidence. Plus Cap One is my only card(s) that routinely decline purchases when I am traveling. It is easy enough correct by responding to their text but still.

I actually have two Cap One cards, a $35.9 Venture Visa that is in my signature and a $25.9 Venture MC which is SD and it was my rebuild card. I have always been afraid to combine them. My spend on Cap One cards has dropped over the last year a lot.

CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus

CreditCuriosity · ‎08-02-2017

Sorry this has happened to you.. Several months ago as mentioned it happened to LTL and myself among other people on other forums.. It appers they are doing some pruning of excessive CL's again that aren't being used. They took me from 34.5k to 10k.. I choose to just close the card at that point as IMO they were no different than any other lender at that point as I use to think they never took AA, but they did indeed. With that said I used only 100ish or whatever a month on it and didn't need the big limit. There are many others that still have big limits on their CAP1 cards on the forum that this could be happening to in the future. I thought it has stopped, but apparently another round might be swinging around. I only had about 500-1k balance at the time on one card and < 1% utilization. Please let us know what your letter says when you get it.

Anonymous · ‎08-02-2017

WoW,OP sorry to here that!! now I know different lender??? But has this thing happen with AMEX to anyone??? Was thinking of combining my 2 AMEX CC s...I'm now spooked😖

SouthJamaica · ‎08-02-2017

@morgacj2004 wrote:
So my wife recently logged into her Cap One Venture One account which currently has a zero balance. The CL has been 46.5k for more than one year since she combined and closed her other CO cards. The CL suddenly went to 10k with no explanation. We took advantage of several zero APR BT transfers with a 2% BT fee but just paid the balance off last month prior to the grace period expiring. No late fees ever. She is the authorized user on my Venture card. My CL remains at 23k with no CLD. Anyone else have this issue with Cap One. Honestly it is not a huge deal and the only reason we kept the card open was for the BT deals that we freq were offered. But still wondering why they took this step ?

My accounts (30k & 27.5k) were shut down completely. Still no rational explanation. Capital One is out of control.