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Capital one spark closed my account

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Capital one spark closed my account

I applied and got approved for a cap one spark business account 2k. I used it for a few days i did some purchases on H&M and foot locker for kids and they closed my account. When i called they said “fraudulent charges” i explained to them i did all the purchases and they would not give me abu explanation other than it was closed due to fraudulent charges. Oh and something that was weird is that everyone says that card reports to personal credit but it never showed up in my personal. A few days ago i applied for the secured Discover it card and i just verified my docs and 2 small deposits but they have not given me any hard pull. I dont know, my credit is weird
12 REPLIES 12
Valued Contributor

Re: Capital one spark closed my account


@Baelish wrote:
I applied and got approved for a cap one spark business account 2k. I used it for a few days i did some purchases on H&M and foot locker for kids and they closed my account. When i called they said “fraudulent charges” i explained to them i did all the purchases and they would not give me abu explanation other than it was closed due to fraudulent charges. Oh and something that was weird is that everyone says that card reports to personal credit but it never showed up in my personal. A few days ago i applied for the secured Discover it card and i just verified my docs and 2 small deposits but they have not given me any hard pull. I dont know, my credit is weird

Cap1 Spark is a business credit card.  You can't charge your lavis spending like H&M or Victoria Secret to a business card.  You crossed the line.  So the grantor has the right to revoke the credit card.  It is fraudulent to them....

Message 2 of 13
Super Contributor

Re: Capital one spark closed my account


@Baelish wrote:
I applied and got approved for a cap one spark business account 2k. I used it for a few days i did some purchases on H&M and foot locker for kids and they closed my account. When i called they said “fraudulent charges” i explained to them i did all the purchases and they would not give me abu explanation other than it was closed due to fraudulent charges. Oh and something that was weird is that everyone says that card reports to personal credit but it never showed up in my personal. A few days ago i applied for the secured Discover it card and i just verified my docs and 2 small deposits but they have not given me any hard pull. I dont know, my credit is weird

They probably closed it because you were using it for personal spend. Their terms of service prohibit that.


Total revolving limits 732500 (606000 reporting) 12/4/20 FICO 8 scores: EQ 715 TU 760 EX 735
Message 3 of 13
Valued Contributor

Re: Capital one spark closed my account

EDIT TO ADD:   You need to pull your credit reports and see what's going on.  You could have Fraud alerts in place, a number of things.  You could be being mixed up with someone else.  Just pull ALL of your Reports and the Biz reports as well.

 

Do you own a business?  Or did you apply with the intention of using for both personal and business since it reports to personal and business?  Even though it reports to personal; it is not for personal.

 

H&M and Footlocker could have been business purchases for uniforms and workwear/footwear, how would they know any better?  We buy uniforms and Osha approved boots/shoes, depending on the job for example from Walmart, Staples, anywhere I can find the best price.

 

So did you supply business credentials that may have not checked out perhaps? Is your business established?  How did they define "fraudulent" charges? AS in the purchaser or the purchases? 

"MY TAKE HOME PAY WON'T TAKE ME HOME"
Personal Credit:
Savor $5.5k/ GoodSamsVS $9k/ BB&T Spectrum VS $10.5k/ BB&T Bright VS $10.5k/
CareCredit $15k/ Synovus loc $75k plus several AU accts via DH
Biz Credit:
Amex Lowe's Rewards $21k/ Amazon Net55 $7.9k/
StaplesMore $1k/ Amex Amazon Biz $10k/several AU accts via DH plus local vendors

(Oldest Acct: 1998; Youngest Acct: Nov 2019)
Message 4 of 13
Established Contributor

Re: Capital one spark closed my account


@GApeachy wrote:

Do you own a business?  Or did you apply with the intention of using for both personal and business since it reports to personal and business?  Even though it reports to personal; it is not for personal.

 

H&M and Footlocker could have been business purchases for uniforms and workwear/footwear, how would they know any better?  We buy uniforms and Osha approved boots/shoes, depending on the job for example from Walmart, Staples, anywhere I can find the best price.

 

So did you supply business credentials that may have not checked out perhaps? Is your business established?  How did they define "fraudulent" charges? AS in the purchaser or the purchases? 


While business purchases can be made across a wide swath of retailers it is a real conundrum for me to find one at 'Foot Locker for Kids' as the OP states the CC was used at.

Jax

*************************************************************************************
Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 5 of 13
Valued Contributor

Re: Capital one spark closed my account


@jaxstraw wrote:

@GApeachy wrote:

Do you own a business?  Or did you apply with the intention of using for both personal and business since it reports to personal and business?  Even though it reports to personal; it is not for personal.

 

H&M and Footlocker could have been business purchases for uniforms and workwear/footwear, how would they know any better?  We buy uniforms and Osha approved boots/shoes, depending on the job for example from Walmart, Staples, anywhere I can find the best price.

 

So did you supply business credentials that may have not checked out perhaps? Is your business established?  How did they define "fraudulent" charges? AS in the purchaser or the purchases? 


While business purchases can be made across a wide swath of retailers it is a real conundrum for me to find one at 'Foot Locker for Kids' as the OP states the CC was used at.


But I don't think OP stated that directly to them.  Just as an explanation to us that it was kid shopping.  I think Cap1 shut it down before OP even said it was OP making the charges; but I do not think OP said to Cap1, "they were for my kids".

"MY TAKE HOME PAY WON'T TAKE ME HOME"
Personal Credit:
Savor $5.5k/ GoodSamsVS $9k/ BB&T Spectrum VS $10.5k/ BB&T Bright VS $10.5k/
CareCredit $15k/ Synovus loc $75k plus several AU accts via DH
Biz Credit:
Amex Lowe's Rewards $21k/ Amazon Net55 $7.9k/
StaplesMore $1k/ Amex Amazon Biz $10k/several AU accts via DH plus local vendors

(Oldest Acct: 1998; Youngest Acct: Nov 2019)
Message 6 of 13
Valued Contributor

Re: Capital one spark closed my account


@jaxstraw wrote:


Oh heck....there is literally a Foot Locker called, "Kids Foot Locker".  Okay, that makes sense.  OP wrote H&M and Foot Locker  then "for kids" so that was a little turned around, yeah......that's a smidge over the top OP.  Unless your business has to do with kids wear? 

"MY TAKE HOME PAY WON'T TAKE ME HOME"
Personal Credit:
Savor $5.5k/ GoodSamsVS $9k/ BB&T Spectrum VS $10.5k/ BB&T Bright VS $10.5k/
CareCredit $15k/ Synovus loc $75k plus several AU accts via DH
Biz Credit:
Amex Lowe's Rewards $21k/ Amazon Net55 $7.9k/
StaplesMore $1k/ Amex Amazon Biz $10k/several AU accts via DH plus local vendors

(Oldest Acct: 1998; Youngest Acct: Nov 2019)
Message 7 of 13
Regular Contributor

Re: Capital one spark closed my account

It might be that credit alert was placed on OP’s credit. Or he made a bad decision using business credit for personal.
Cap1 will close the account for any reason.
Message 8 of 13
Established Contributor

Re: Capital one spark closed my account

It may still report to your personal credit at the end of the month. 

The rest of it doesn't make sense. What kind of business did you say you where in? That could be the issue. They could have finally got around to verifying your business. 

Most likely scenario is the type of business didn't match up with your spend. For example. You told them you run an accounting business and made purchases at retail clothing stores. Your clothing, iirc is not a tax deductible expense unless it's a uniform. Capital One doesn't have people reviewing this stuff it's all computer algorithms. Your account was probably flagged for that reason.


Sometimes I buy gift cards for a client. It's a business expense. But since I know it might look like manufactured spending (something I have been told banks look) I put in on my personal card and just make a note to review it come tax time.

 

 

BECU | Apple | Discover | Key
Message 9 of 13
Established Contributor

Re: Capital one spark closed my account

Capital one are hawks.

Message 10 of 13
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