Massive CLD from Cap One

[AverageJoesCredit]

Looks like credit one snuck in and pulled a switch


Sorry morgacj.

[Gmood1]

Did anyone that received a CLD with CO, not micromanage what reports to the CBs? 

I'm curious as to what Cap one is looking for. I'm not going to sweat it. They'll do as they please regardless. 

Sorry for your troubles OP.

[CreditCuriosity]

---

@noobody wrote:
Yes, they were out control when they gave out 15K CL to everyone and their brothers with 620 fico, and suffer from it.

---

Is this comment really needed?  Pretty sure I didn't have a 620 score nor did the OP.  Although I do agree they shouldn't of handed out the big CL's and in-turn allow account combinations; then in-turn realized their mistakes (although thy are still passing out 20-30k CLi's with less that desirable scores).  Don't assume everyone with bad scores got big CL's, people with good profiles also have been hit by this.  Yes Cap1 and Discover have had a rough quarter or two in Charge off's, but what do you expect from two lenders that lean more towards sub-prime borrowers although certainly not all their profile/account holders fit the sub-prime mode you suggest, but in-turn some are very prime borrowers.  They are taking a wide brush on whom they have hit so far people with so-so profiles to excellent.  With all this said did I need a 35k CL, certainly not with my use.  Do I have other CL's around or at that limit yes with alot more strict lenders.

[Gregory1776]

---

@noobody wrote:
Yes, they were out control when they gave out 15K CL to everyone and their brothers with 620 fico, and suffer from it.

---

Oh, boy.

[Anonymous]

Geez... didn't know they did CLD's or that CC and LTL got one as well. I was gonna app for another Cap One card in the future to bump it up, but I'll leave it where it's at if they're taking AA like that. I put a 4k charge on it back in March... hopefully that makes them leave me alone for a little while... <_<

Sorry that happened to you morgacj!

[wasCB14]

---

@Gmood1 wrote:

Did anyone that received a CLD with CO, not micromanage what reports to the CBs? 

I'm curious as to what Cap one is looking for. I'm not going to sweat it. They'll do as they please regardless. 

Sorry for your troubles OP.

---

Spend that's vaguely indicative of the need for a $30k+ CL?

[driftless]

---

@wasCB14 wrote:

---

@Gmood1 wrote:

Did anyone that received a CLD with CO, not micromanage what reports to the CBs? 

I'm curious as to what Cap one is looking for. I'm not going to sweat it. They'll do as they please regardless. 

Sorry for your troubles OP.

---

Spend that's vaguely indicative of the need for a $30k+ CL?

---

That is the only thing that I can discern based on what I have been reading here.

[CreditCuriosity]

---

@driftless wrote:

---

@wasCB14 wrote:

---

@Gmood1 wrote:

Did anyone that received a CLD with CO, not micromanage what reports to the CBs? 

I'm curious as to what Cap one is looking for. I'm not going to sweat it. They'll do as they please regardless. 

Sorry for your troubles OP.

---

Spend that's vaguely indicative of the need for a $30k+ CL?

---

That is the only thing that I can discern based on what I have been reading here.

---

Although alot of other data points when this last happened months back that people have 40k cl's with Cap1 and put like 20 a month on their cards and have yet to be hit.  whether they will be ever or not only Cap1 knows.  As stated I certainly didn't use my 35k CL so I can't blame them, but why keep approving people for 30k CL's with average profiles?  Hoping they go into debt and earn alot of interest?  Only reason I can think.  They simply made no money off me, I can't speak for LTL or the OP hence I got my limit slashed is my take on it and that is fine as I moved on as not using them as a lender.

[Anonymous]

---

@CreditCuriousity wrote:

---

@noobody wrote:
Yes, they were out control when they gave out 15K CL to everyone and their brothers with 620 fico, and suffer from it.

---

Is this comment really needed?  Pretty sure I didn't have a 620 score nor did the OP.  Although I do agree they shouldn't of handed out the big CL's and in-turn allow account combinations; then in-turn realized their mistakes (although thy are still passing out 20-30k CLi's with less that desirable scores).  Don't assume everyone with bad scores got big CL's, people with good profiles also have been hit by this.  Yes Cap1 and Discover have had a rough quarter or two in Charge off's, but what do you expect from two lenders that lean more towards sub-prime borrowers although certainly not all their profile/account holders fit the sub-prime mode you suggest, but in-turn some are very prime borrowers.  They are taking a wide brush on whom they have hit so far people with so-so profiles to excellent.  With all this said did I need a 35k CL, certainly not with my use.  Do I have other CL's around or at that limit yes with alot more strict lenders.

---

Not to argue you but I don't think his comment was intended at you, LTL or @morgacj2004's wife.  I think he means that CapOne was overly agressive several years ago when they gave out very large limits to less than ideal credit scores and now are reporting large lossses.  The result could be that even though your profiles don't fall into that arena, you are being 'punished' due to their losses.  Sorta how the sub prime mortgage industry issues caused a real estate meltdown.

[Anonymous]

This is an interesting thread. I combined two cards and have a 23k account I don't use a lot. I have a single charge on it every month and that's it. I also use it for balance transfers. Today I received an email that said they noticed I have not been around much. Hum.