topic Re: Cap 1 closed my account. in Credit Cards

Cap 1 closed my account. (Updated)

corymcd88 — Wed, 07 Dec 2016 14:35:28 GMT

Capital One closed my account today staying that I have too much credit outside of Capital One, they did me a favour and made it easy on me. Good riddance!!

Re: Cap 1 closed my account.

Anonymous — Tue, 06 Dec 2016 18:23:56 GMT

how much was the line closed for?

I'm happy for you that it is a relife to be done with a card you don't want.

Re: Cap 1 closed my account.

corymcd88 — Tue, 06 Dec 2016 18:26:44 GMT

@Anonymous wrote:
how much was the line closed for?

I'm happy for you that it is a relife to be done with a card you don't want.

$4.200.

Re: Cap 1 closed my account.

JustBPatient — Tue, 06 Dec 2016 18:28:09 GMT

One less to keep track of!!

Re: Cap 1 closed my account.

corymcd88 — Tue, 06 Dec 2016 18:32:51 GMT

@JustBPatient wrote:
One less to keep track of!!

Yep, very high APR for that kind of card. Discover CLI my card to $20.300 from $15.000 with out me asking go figure.

Re: Cap 1 closed my account.

pipeguy — Tue, 06 Dec 2016 18:38:15 GMT

IMO you are better off without Cap-1, I've closed all my branded accounts with Cap-1 (I kept and use the GM card) and don't miss them at all.

Given your Sig line, you sure don't need the card or utility space - good riddence !!

Re: Cap 1 closed my account.

driftless — Tue, 06 Dec 2016 18:38:31 GMT

Any other activity that could have promoted the closure? I haven't heard of Cap One closing an account for that reason before.

Re: Cap 1 closed my account.

Discover2016 — Tue, 06 Dec 2016 18:40:13 GMT

If I may ask, how many inquiries do you have? How is your util? You said in another thread that SDFCU keeps hard puling you? Something is spooking your creditors.

Re: Cap 1 closed my account.

corymcd88 — Tue, 06 Dec 2016 18:43:44 GMT

@Discover2016 wrote:
If I may ask, how many inquiries do you have? How is your util? You said in another thread that SDFCU keeps hard puling you? Something is spooking your creditors.

Cap 1 just said very high CL with other banks and I said better APR and better rewards.

Re: Cap 1 closed my account.

driftless — Tue, 06 Dec 2016 19:23:06 GMT

Do I have this right, they closed your account while you were talking to them?

Re: Cap 1 closed my account.

Gmood1 — Tue, 06 Dec 2016 20:53:35 GMT

Something doesn't sound right here. You say they closed because of other limits? There are many of us here with more lines and limits than what is in your signature that have Cap One. I've never had any trouble out of Cap One. I've also never seen this issue brought up on this site. VERY strange indeed.

Re: Cap 1 closed my account.

Anonymous — Tue, 06 Dec 2016 20:58:17 GMT

@Gmood1 wrote:
Something doesn't sound right here. You say they closed because of other limits? There are many of us here with more lines and limits than what is in your signature that have Cap One. I've never had any trouble out of Cap One. I've also never seen this issue brought up on this site. VERY strange indeed.

Well, let's see if others report similar things, as it's a dynamic environment. Cap One went from THE major low limit bank to one that is perhaps over generous. Always possible that at any stage, they may be told to clamp down.

Re: Cap 1 closed my account.

Gmood1 — Tue, 06 Dec 2016 21:01:02 GMT

@Anonymous wrote:
@Gmood1 wrote:
Something doesn't sound right here. You say they closed because of other limits? There are many of us here with more lines and limits than what is in your signature that have Cap One. I've never had any trouble out of Cap One. I've also never seen this issue brought up on this site. VERY strange indeed.
Well, let's see if others report similar things, as it's a dynamic environment. Cap One went from THE major low limit bank to one that is perhaps over generous. Always possible that at any stage, they may be told to clamp down.

True, though I still believe there's more to this than what has been shared.

Re: Cap 1 closed my account.

driftless — Tue, 06 Dec 2016 21:16:38 GMT

Yeah, every time we have one of these posts about a bank not doing right by a poster with an AA or CLD, with possible exception of Barclay's, there is usually more to it that eventually comes out. It does not ring true for Cap One to do this without more ............

Re: Cap 1 closed my account.

baller4life — Tue, 06 Dec 2016 21:14:55 GMT

Very odd behavior for Cap One. Many of us have a very high amount of available credit which includes Cap One. Please update us when you receive letter. I agree with others that it sounds like there's more to it.

Re: Cap 1 closed my account.

Anonymous — Tue, 06 Dec 2016 21:26:17 GMT

Usually the only time Cap1 messes with you is if you DON'T pay them or bounce payments. I have only heard of one other AA from Cap1 on these forums and that was due to excessive cash advances and paying them back quickly or something on those lines.

There has to be more to the story.

Re: Cap 1 closed my account.

driftless — Tue, 06 Dec 2016 21:25:25 GMT

I note that the OP has ~ 17 cards with roughly a TCL of $167K. Except for folks like me, that is pretty normal on this board.

Re: Cap 1 closed my account.

Anonymous — Tue, 06 Dec 2016 21:28:41 GMT

Cap1 usually doesn't care about most things as long as you pay them.

Re: Cap 1 closed my account.

SouthJamaica — Tue, 06 Dec 2016 22:09:24 GMT

@corymcd88 wrote:
Capital One closed my account today staying that I have too much credit outside of Capital One, they did me a favour and made it easy on me. Good riddance!!

That's the first time I ever heard of Capital One doing something like that.

Re: Cap 1 closed my account.

Anonymous — Tue, 06 Dec 2016 23:51:56 GMT

More to this than is being told. Pyramiding?