@chuckwood wrote:I recieved another account review notice in the mail today from Cap One that I have had for over 16 years with a 20k limit. The last time I got one I opted out and it was good for about a year and today I recieved another one. My overal utilization says between 0-3% and I have others with the same or simular limits but it is one of my oldest open accounts. I do put some spend on it monthly but I don't let balances report but ever 3 months or so. I didn't know if I should I just close it?
What is an account review notice?
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@Remedios wrote:
@chuckwood wrote:I recieved another account review notice in the mail today from Cap One that I have had for over 16 years with a 20k limit. The last time I got one I opted out and it was good for about a year and today I recieved another one. My overal utilization says between 0-3% and I have others with the same or simular limits but it is one of my oldest open accounts. I do put some spend on it monthly but I don't let balances report but ever 3 months or so. I didn't know if I should I just close it?
Which notice did you receive, one about decreasing your limit unless you're planning on using your card more or "we'll close it if you don't use it"
In any case, I wouldn't close my oldest account but you can let them CLD it to something more reasonable then you won't have to worry about Cap One closing/CLD'ing it on their own and without notice in the future.
+1
I lost like $33k between my QS and Savor but they still have $10k CLs on each which is plenty.
GL OP!
Just call the automated number in the email.
Select 1 and that's it.
You'll be opted out of the review.
You'll receive a confirmation email telling you the limit stays as is. If I get one next year. I'll opted out again.
@Gmood1 wrote:Just call the automated number in the email.
Select 1 and that's it.
You'll be opted out of the review.
You'll receive a confirmation email telling you the limit stays as is. If I get one next year. I'll opted out again.
@chuckwood, let us know what you decide to do and how things turn out.
Best wishes!
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@SweetCreditObsession wrote:
@Gmood1 wrote:Just call the automated number in the email.
Select 1 and that's it.
You'll be opted out of the review.
You'll receive a confirmation email telling you the limit stays as is. If I get one next year. I'll opted out again.
@chuckwood, let us know what you decide to do and how things turn out.
Best wishes!
I opted out last time and it lasted about a year before I got another letter. I am not a big spender but have been making sure to use it and my other cards monthy but only let a balance report every 3-4 months. I have other cards with better rewards and always try to keep a 0% card incase I needed to carry a balance so I think I am going to go ahead and let them CLD it because I know eventually they are just going to chop it and not tell me. If it happens to be too much that I have to babysit it I will just close it. I have too many cards anyways. I will let everyone know what they CLD it too when it happens.