topic Re: Capital One and Chase Freedom cancelled my credit cards. HELP! in Credit Cards

Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 05:38:55 GMT

I've had credit for over 35 years. I've NEVER paid a late payment in my life on anything. A few months ago Capital One cancelled my credit card of over 15 years which had a limit of 17,000.00. Tonight I just signed into my Chase Freedom account Ive had over 12 years with a limit of 23, 700.00 only to find out it too has been cancelled. I called the customer service line and spoke with several people. Finally I got a supervisor. He agreed that I had never missed a payment, never been late. He stated that it must be a very sensitive matter since he could not find the reason I was cancelled. I'm in shock and disbelief. When Capital One cancelled me they didn't give me a reason. They sent a flimsy letter that said they were canceling per my request. I called them and told them I didn't request my card be cancelled. After speaking with several Capital One reps I finally called the executive office, who just stated they were canceling, giving no reason and there wasn't anything I could do about it. Once I realized they really intended to cancel me I did send a not-so-nice nice letter to Richard Fairbank. Maybe I shouldn't have but I was po'd. Now Chase evidently is following suit. Has this ever happened to anyone else? Does anyone know if they can legally do this or what I could do to prevent them from canceling? ? All three of my credit scores are well over 740 and that's after taking the hit of Capital One canceling me. I don't carry balances on any of my credit cards so that's not an issue. I don't want to lose my limits though. Please help! Anyone?

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

starry1 — Sat, 09 Mar 2013 05:42:01 GMT

Did you check your credit reports to see if some kind of collection or judgment was inserted?

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 05:46:39 GMT

yes, I tired to pull all 3 credit reports as soon as I found out Capital One was going to cancel me. I wasnt able to get the transuion report, will have to mail for it but experian and equifax were flawless. I'm desperate at this point. Should I try to get new credit cards and if so who would give me high limits? They guy I spoke with tonight from Chase seemed almost as stunned as I was. He clearly stated he coudlnt see any reason for the cancellation and gave me a number to call but the number only works Mon - Fri 9am - 5pm eastern. I cant find out anything over the weekend.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 05:52:47 GMT

That is strange. Could it be that youbhave not used them? I had a couple cancel on me several years ago becuase there was no activity....one for a year and one only six months. Cant think of anything else if there is nothing on the credit reports. Someone pretending to be you maybe? Called and cancelled them? Got an ex somewhere thaat doesnt like you? Grasping at straws. Wish i knew.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 06:01:52 GMT

I have an ex wife but I dont think she would do that,besides after I called they said it was them canceling me but wouldnt give me a reason why. I spoke with a woman named Tamra at Capital One and she mentioned something about fraud but there hasnt been any fraudulent activity on my credit or credit reports. The only thing I can think of is I did let some people piggy back off my credit for about six months. They had no access to my cards or my information. I researched it. I couldnt find anything about it being illegal. It might be considered unethical though. I was paid a small amount for doing this. I stopped doing that as soon as Capital One cancelled on me.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 06:07:40 GMT

I had not heard about the piggy backing latley, but yeah awhile back there was some big stink over it. That would be my guess...they cracked down, maybe calling it fraud. I dont remember if they were calling it illegal back then or what...this was maybe a year ago or so if memory serves..but my memory sucks. Google it and see what you can find.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

09Lexie — Sat, 09 Mar 2013 06:07:53 GMT

Sounds really strange like they suspected fraud and cancelled you. Do you have other cc's?

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

BrokaToe — Sat, 09 Mar 2013 06:12:05 GMT

l'm not up on the latest fraud lingo...What do you mean by, they were "piggy backing" off your credit?

Edit: Ahh nvm, I see now after googling. It's basically an AU, only they have to pay you to become the AU. That's pretty crappy in my book. Don't want to offend, just my opinion.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

toppers555 — Sat, 09 Mar 2013 06:17:10 GMT

This really does not add up. Had to be something to spoke them or some foul play.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 06:18:19 GMT

who were you exactly letting to "piggyback" off you? If they're your sons/daughter/wive/DIRECT relatives, you have a very strong case.

They told you it's fraud related. Could someone have impersonated you to cancel? Or was there some suspicious activity on the cards that triggered all these actions?

This is a stupid question by me, but you made sure its a permanent closure, not one where they reopen 3-4 days later with new account and card numbers?

Did you go on an app spree recently, got fired from your job, took up any huge loan, or did anything major change in your life?

Banks reserve the right to cancel anyone's cards at any point in time w/o any reason required. However it is weird for them to do anything like this without any reason.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 06:20:00 GMT

I allowed people to become authorized users on both my chase and capital one cards for a few months to boost their credit scores. I was told it was legal. I googled and googled and everything said it was legal but not considered eithical by some people. It was a legitimate website. I even got a 1099 tax form from it but as I said, I stopped as soon as Capital One said they were canceling me. Some people believe that by becoming an authorized user it will boost a their credit score. Since they had no access to my information and I was getting paid for it I allowed it. Wish now I hadn't. I do have other credit cards. I have Discover, Bank of America, Fidelity, Walmart Discover, Home Depot, and Citi Bank but a 23,700 decrease is my limits will hurt my excellent credit scores...won"t it? I have credit monitoring also and havent gotten any alerts. No unauthrized activity of any kind on any of my reports.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 06:25:22 GMT

I've not had any changes in my life in over 3 years. My income is still high, my scores are high. Ive not been on any app spree however when capital one cancelled me I did get a Fidelity Visa to keep my limits up so my scores wouldnt drop very much. They dropped some though and I am afraid if Chase cancels me my scores will plunge. I've had good credit all my life. Never paid a late payment. Usually dont carry a balance at all. I've used all of my cards a little about every other month or so to keep them active.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

09Lexie — Sat, 09 Mar 2013 06:25:23 GMT

Did the company who issued the 1099 have any run ins with these cc's? I mean if the business was being watched or investigated for this activity- that form of misrepresentation could cancel your cards.

Really? Getting paid? a 1099? I can't even believe this isn't legal- truly unethical.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 06:28:42 GMT

I didnt know the people who piggy backed off me. They were not relatives. I had and still have all their information though including copies of their socials, drivers lisences, etc. As soon as the authorized user accounts hit the credit agencies for one month I was paid and they were removed as authorized users. I got paid the same if it helped their scores or not.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 06:31:05 GMT

I dont know if they had any runins with the credit card companies or not. I knew someone who had done business with this company for several years and she never had a problem. She still doesnt have any problems with them. She also gets a 1099 every year.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

09Lexie — Sat, 09 Mar 2013 06:34:20 GMT

Again, sounds like someone got onto your 'job' and didn't like being misled. Hence, the cancelled cards. May I ask, how many times did you sell your info?
I can just imagine the red flag that went up if its a high number.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

starry1 — Sat, 09 Mar 2013 06:37:09 GMT

I have to agree with lexie, even if its not illegal, its still extremely shady.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

BrokaToe — Sat, 09 Mar 2013 06:38:04 GMT

Yep, I almost feel ashamed even reading this thread

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

Anonymous — Sat, 09 Mar 2013 06:38:58 GMT

10 people. I still dont understand why they would cancel me though since no one used the cards except for me. I even asked Capital One if that was the reason and she wouldnt answer me.

Re: Capital One and Chase Freedom cancelled my credit cards. HELP!

09Lexie — Sat, 09 Mar 2013 06:39:53 GMT

I am still trying to wrap my head around 'I get a 1099'.

Shaking my head!