I'm in for a Capital One CLD very soon

[sjt]

Welps, I received "the letter" a few days ago. It does give me the option to "opt out". My cl is only $10K, but the usage is really low and I zero it out before the statement cuts. I'm thinking of opting out and cutting my CL to $5K. Do you think this will get me out of any future reviews?

[NoMoreE46]

@12njoy 

Appreciate your sharing.  I started using my $30000 QS since your thread.  

Prior to being the QS,  it was the same $59 AF Venture card...

Last winter,  I PCd this Venture to the Venture X during the introduction.

However, I realized that my current lifestyle didn't quite warrant the X's $395 AF.  I was given the option of a Venture One or the QS.  I wasn't allowed to go back to the $59 Venture legacy card. 

My no AF Savor gets used weekly so I am not worried about especially since they already chopped my limit from $13,000 to $5,000. 

I do believe CapOne is less likely to CLD cards with AFs though.

[Credit-hoarder]

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@NoMoreE46 wrote:

@12njoy 

Appreciate your sharing.  I started using my $30000 QS since your thread.  

Prior to being the QS,  it was the same $59 AF Venture card...

Last winter,  I PCd this Venture to the Venture X during the introduction.

However, I realized that my current lifestyle didn't quite warrant the X's $395 AF.  I was given the option of a Venture One or the QS.  I wasn't allowed to go back to the $59 Venture legacy card. 

My no AF Savor gets used weekly so I am not worried about especially since they already chopped my limit from $13,000 to $5,000. 

I do believe CapOne is less likely to CLD cards with AFs though.

---

One would think that--but they do. During their last big CLD phase they cut my $59AF Venture #2 (I had 2 of them) from $15k to $5k. It's now a no AF QS. IMO if you're paying an AF--that fee should allow you to keep that CL. That CLD move kinda soured me on Cap One a little.

[brk1971]

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@brk1971 wrote:

Resurrecting this thread (on topic with the original post) and hoping not to resurrect the side conversations (criticisms) that took it over for a bit of that time...

I received this email from C1 today (review in July). 

This is one of my oldest accounts ($0 fee), and yet it's hardly ever used due to the un-moving and contextually small credit line ($10.3k). In the past just under 2 years I've spent $175 on that card - $25 Amazon reload each quarter (usage maintenance). While I do not anticipate dedicating significant new spending to the card, I 'can' anticipate the spend to change. But my real reason for opting out is because it's one of my oldest accounts. I know that on Fico models, the AAoA won't change, but in other models it will have an impact.

I'm fully aware that next time (or sometime before that) they'll cut the line on this one further (and at that point I'll just close it).  Until then, it can continue to factor into my TCL.

Anyway, the point of my resurrection is this...

As mentioned above, should you get this email, the process is automated. For clarity on how that goes:

• Called number listed in email after verifying it was a legit C1 number.
• Phone number is systematically recognized, confirmed last 4 of account.
• "You have an account review coming up. To opt out, press 1." (pressed 1)
• "You've opted out [...]"

(There is not a point where you predict / commit to any specific level of spending, etc. No attempt to divert the call to a rep / agent.

Whole thing took about 30 seconds.

I'll resurrect this again when the eventual haircut / next review notice comes out.

---

In an interesting turn, got an email this evening notifying me that I've been upgraded to a World Elite Mastercard. (No number, CL, rewards, or other account change). 
I still haven't used the card. 
1. 'Y'ain't using it so we're gonna decrease it, unless you don't want us to.' 
2. 'Ok, we won't 'cause ya said you didn't want us to.'
3. 'We're giving you more benefits.' 

Odd duck Cap1 is. 

[Gmood1]

Update, I received this notice last week.

Called the number and opted out.

Received an email this morning that my $49,500 limit will stay intacted. 😁

Even if they reduced it, I would still hold on to the CC, as it is my oldest revolving trade line.

But as long as I can opt out, I'll also hold on to my limit as well. 🤣