topic Re: Capital One Credit Limit Decrease Data Point in Credit Cards

Capital One Credit Limit Decrease Data Point

Anonymous — Sat, 21 Mar 2020 02:03:12 GMT

Hello all,

Not as much of a complaint as a heads up. I received a letter today from Capital One stating that they had made "an error in calculating your credit limit increase back in February 2019" and slashing my limit a bit. It was a minimal descrease so I have very little complaint other than the false reasoning behind the letter (that was 14 months ago). They are very clearly slashing due to the current economic situation. Just wanted to give the heads up for people in case they end up with larger decreases.

Additional information: no other changes to my credit (no new cards, CLIs, carrying balance, etc.), no additional spending this month (almost exactly on my monthly average), never missed a credit or loan payment in my lending life (8 years), have always paid credit cards in full (8 years) etc.

Hope everyone out there is staying safe and hanging in there. We're all in this together. Let's make it out the other side even better

Re: Capital One Credit Limit Decrease Data Point

AllZero — Sat, 21 Mar 2020 02:23:10 GMT

That is unfortunate.

Hope you and your's stay safe and healthy too!

Re: Capital One Credit Limit Decrease Data Point

Openwater — Sat, 21 Mar 2020 02:49:25 GMT

Sorry to hear, hoping things get better soon!

Re: Capital One Credit Limit Decrease Data Point

Ficoproblems247 — Sat, 21 Mar 2020 03:03:24 GMT

I'm really sorry that happened to you. I hope this is not a precursor for things soon to come.

Re: Capital One Credit Limit Decrease Data Point

Anonymous — Sat, 21 Mar 2020 06:47:25 GMT

I have to agree. Sounds like a bs reason. 14 month miscalculation? Yeah right Cap1.

Re: Capital One Credit Limit Decrease Data Point

AllZero — Sat, 21 Mar 2020 12:03:35 GMT

Another data point. Capital one line decrease

Re: Capital One Credit Limit Decrease Data Point

GApeachy — Sat, 21 Mar 2020 12:06:02 GMT

Appreciate the Dp's....sorry this happened. You and yours stay healthy.

Re: Capital One Credit Limit Decrease Data Point

FireMedic1 — Sat, 21 Mar 2020 12:40:55 GMT

Two in 1 day? That blows. So sorry it happened. Least they didnt AA.

Re: Capital One Credit Limit Decrease Data Point

M_Smart007 — Sat, 21 Mar 2020 14:10:05 GMT

Sorry OP! ..

""an error in calculating your credit limit increase back in February 2019"

This is just to much!

Re: Capital One Credit Limit Decrease Data Point

AverageJoesCredit — Sat, 21 Mar 2020 14:40:32 GMT

Copy and Paste " Sorry" Looks like it's begun. By the way what was your limit and how much did they reduce your limit to?

Re: Capital One Credit Limit Decrease Data Point

Anonymous — Sat, 21 Mar 2020 16:02:08 GMT

Thanks for sharing this information. I'm sorry this happened to you. I had a feeling this was going to start happening.

Hopefully, after all of this passes, credit limits will start to climb back up. Best wishes.

Re: Capital One Credit Limit Decrease Data Point

Anonymous — Sat, 21 Mar 2020 21:58:06 GMT

Limits was originally $13,000 down to $12,300. As I said, really small decrease. More upset about the very BS reason than anything. Am happy this can serve as a data point for others though. We should all know what we'll be in for in the upcoming months.