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Capital one AA

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Capital one AA

Logged on to QS card today saw my CL was 10k... Was at 34,5k.. No balance use for about 100 dollars a month or so.  On phone with them right now.  Only carrying about 800 balance with NFCU currently.  Probably going to close card depending what they say.  Others might want to check their account as well.. Nothing new on credit report other than new acounts or inquiries, but nothing new derog.  More to come.  To many other 1.5% to 2% card out there than dealing with this crap.  Especially someone that is suppose to be rock solid like Cap1

 

Edit:

 

Another DP this was 3 account combinations a Venture 20k approval, QS 1VS 10k Approval and a QS platinum at 4.5k..  This account combination happened approx a year ago.

Message 1 of 155
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Moderator

Re: Capital one AA


@CreditCuriousity wrote:

Logged on to QS card today saw my CL was 10k... Was at 34,5k.. No balance use for about 100 dollars a month or so.  On phone with them right now.  Only carrying about 800 balance with NFCU currently.  Probably going to close card depending what they say.  Others might want to check their account as well.. Nothing new on credit report other than new acounts or inquiries, but nothing new derog.  More to come.  To many other 1.5% to 2% card out there than dealing with this crap.  Especially someone that is suppose to be rock solid like Cap1


Wow, very unusual for them and especially given your profile.  Will be interesting to see what they have to say.

Message 2 of 155
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Re: Capital one AA

Closed the account.. Letter of reason was sent in mail yesterday to me awaiting it will let all know when received.. Others might want to check as well?

Message 3 of 155
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Re: Capital one AA


@Irish80 wrote:

@CreditCuriousity wrote:

Logged on to QS card today saw my CL was 10k... Was at 34,5k.. No balance use for about 100 dollars a month or so.  On phone with them right now.  Only carrying about 800 balance with NFCU currently.  Probably going to close card depending what they say.  Others might want to check their account as well.. Nothing new on credit report other than new acounts or inquiries, but nothing new derog.  More to come.  To many other 1.5% to 2% card out there than dealing with this crap.  Especially someone that is suppose to be rock solid like Cap1


Wow, very unusual for them and especially given your profile.  Will be interesting to see what they have to say.


Yes will be interseting to read letter when it come.. just checked my reports yesterday and nothing new on them being negative.

Message 4 of 155
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Re: Capital one AA

WTH??.. oh my! Im so sorry CC...this is highly unusual!! I wonder if this a start of things to come. Another credit crunch coming soon??

I wonder if they are also going back and looking at the folks who did all the acct combos and have higher CL's and not using the high lines??

Whatever the reason(s)......Im sorrySmiley Sad

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Message 5 of 155
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Senior Contributor

Re: Capital one AA

CC, you closed the account, or they did?

Very sorry to hear of this, my friend. Capital One seems to have gotten on the crazy train of overreactive lenders lately.

Their algorithms must be a mess if they are taking AA on you with your solid profile.


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Re: Capital one AA


@humuhumunukunukuapuaa wrote:
CC, you closed the account, or they did?

Very sorry to hear of this, my friend. Capital One seems to have gotten on the crazy train of overreactive lenders lately.

Their algorithms must be a mess if they are taking AA on you with your solid profile.

I choose to close the account after I saw the AA or CLD..  They took AA on me and in return I took AA on them.  If you can't depend on a card especially rock solid Cap1 then I have no need for them.

 

Honestly I don't blame them in some ways as I only used it for around 100 a month, but that was my highest CL.  I do understand they can be lending out money to other people.  Just more interested to see the reasons.  I will probably be opening up a Penfed 2% card today as my main fallback high CL cc.. Currently I have a promise with them with 30k and most likely will apply for the new card being 2% card they offer and role my promise limit over to it and close the promise.  Honestly I also needed to shed some credit and this was one way certainly to do it!  I thought of closing cap1 in the past but figured they would be their through thick and thin with me and obviously this sin't the case so was time to close.  I understand the reasons so far.  I assume letter will say use of existing credit line sufficient or something, but whatever it is I will share with everyone.

Message 7 of 155
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Re: Capital one AA


@pizza1 wrote:
WTH??.. oh my! Im so sorry CC...this is highly unusual!! I wonder if this a start of things to come. Another credit crunch coming soon??

I wonder if they are also going back and looking at the folks who did all the acct combos and have higher CL's and not using the high lines??

Whatever the reason(s)......Im sorrySmiley Sad

Thanks Pizza.. It is what it is and as stated in other posts not really upset, just caught off guard.. Just a reminder to us all it can happen to anyone everyone with lenders like Cap1.

Message 8 of 155
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Super Contributor

Re: Capital one AA

Sorry OP. The situation sucks but serves as a reminder that Capital One isn't exempt from taking AA
Message 9 of 155
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Re: Capital one AA

Sorry to hear this happened to you, CC. It's great that you're taking it all in stride.

A lot of "stuff" going on, first Barclay, now Cap 1? Maybe we are approaching a "credit crunch."

 

We should all get our credit ducks in a row, we just don't know what's going to happen in the near future.

 

Sorry again CC. Kudos to you for maintaining your coolness!

 

Keep us posted!


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