Massive CLD from Cap One

[Credit-hoarder]

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@morgacj2004 wrote:
Our income is around $110-115k Have around 20 accounts with about 250k available credit 4% UT. No late payments since 2012. Mortgage and one car payment. There is absolutely no reason for a CLD since my wife did use this account as I previously stated.

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If you don't mind me asking--How much was the total of the BT(s) and how long did you make payments? Also did you spend on the card while paying off the BT? Not being nosey--just trying to gather some info to understand this better for my own future reference.

[CreditCuriosity]

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@driftless wrote:
For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

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18 I believe total credit available around 290k in available CC and LOC's.. utilization reporting at any time less than 1k on CC's so less than 1%.  Income reporting approx 150k.  Only other debt car loan 66k starting(obviously less now although 1170ish payments) and SL of 225 a month payment and of course rent, but that doesn't show on CR just disclosed during applications on any card.

[CreditCuriosity]

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@longtimelurker wrote:

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@driftless wrote:
For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

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~ 15-20, total CL around $450K.    Penfed closed one of my unused cards, waiting to see what happens to my other unused cards (e.g. a $30K Nasa).

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Really Penfed closed a unused account?  How long was it inactive for?  Was this recent?  Thanks

[iheartwings]

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@driftless wrote:
For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

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I have 11 CC and 1 charge (AmEx) with TCL $273,600 prior to CLD. I have two Capital One CC, with one WMC that just turned 10 years old (a Platinum that got PC to Cash Rewards and eventually to Quicksilver) and the VS that got the CLD. My annual income is over $300k. I usually use up to 4 of my cards each month, with 3 being for categorical spending (Discover +/- Freedom +/- Costco) and a daily driver (DC or QS or REI with an incentive). 

[Anonymous]

I just checked my Cap1 cards online this morning, but reading through this thread made me go check them again, just to be sure. 

To everyone that received a CLD, I am sorry that happened. Any CLD has got to hurt.

I have three Cap1 cards, QS Platinum $4300, QS WEMC $10000, and Venture VS $15000. 

I still plan on closing the QS Plat and combining the limit with the WEMC, but several months ago decided I wouldn't seek a CLI before doing so. $14300 is more that enough on one card. I'll probably never combine with the Venture, but will eventually PC it to a QS VS. I have all the Cap1 products I will ever want or need already, and I think I will be safe from CLD but crossing my fingers.

[longtimelurker]

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@CreditCuriousity wrote:

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@longtimelurker wrote:

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@driftless wrote:
For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

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~ 15-20, total CL around $450K.    Penfed closed one of my unused cards, waiting to see what happens to my other unused cards (e.g. a $30K Nasa).

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Really Penfed closed a unused account?  How long was it inactive for?  Was this recent?  Thanks

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It was closed in May 2017, so recent!   They warned me they were going to close it at the beginning of May, I put about $10 on, but that didn't prevent closure  (there was a number I could call, but couldn't be bothered).   Last time I had used the card prior to that was Dec 2014  (and that was about $2,500 at Target, in the glorious days of the Prepaid Redcard)

So not really surprising, this was a $27,500 Platinum Rewards going unused.   I still have another Plat Rewards, which I don't use either.

[Credit-hoarder]

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@longtimelurker wrote:

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@CreditCuriousity wrote:

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@longtimelurker wrote:

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@driftless wrote:
For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

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~ 15-20, total CL around $450K.    Penfed closed one of my unused cards, waiting to see what happens to my other unused cards (e.g. a $30K Nasa).

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Really Penfed closed a unused account?  How long was it inactive for?  Was this recent?  Thanks

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It was closed in May 2017, so recent!   They warned me they were going to close it at the beginning of May, I put about $10 on, but that didn't prevent closure  (there was a number I could call, but couldn't be bothered).   Last time I had used the card prior to that was Dec 2014  (and that was about $2,500 at Target, in the glorious days of the Prepaid Redcard)

So not really surprising, this was a $27,500 Platinum Rewards going unused.   I still have another Plat Rewards, which I don't use either.

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Wow--$27.5K--In my case that would be my 2nd highest CL. I would have put my real estate taxes (about $2K per year) on that bad boy and let it report for a year at least--but that's just me.

[longtimelurker]

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@Credit-hoarder wrote:

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@longtimelurker wrote:

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@CreditCuriousity wrote:

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@longtimelurker wrote:

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@driftless wrote:
For the posters who have experienced CLDs can you tell us how many cards you have and you total CL? Thanks.

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~ 15-20, total CL around $450K.    Penfed closed one of my unused cards, waiting to see what happens to my other unused cards (e.g. a $30K Nasa).

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Really Penfed closed a unused account?  How long was it inactive for?  Was this recent?  Thanks

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It was closed in May 2017, so recent!   They warned me they were going to close it at the beginning of May, I put about $10 on, but that didn't prevent closure  (there was a number I could call, but couldn't be bothered).   Last time I had used the card prior to that was Dec 2014  (and that was about $2,500 at Target, in the glorious days of the Prepaid Redcard)

So not really surprising, this was a $27,500 Platinum Rewards going unused.   I still have another Plat Rewards, which I don't use either.

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Wow--$27.5K--In my case that would be my 2nd highest CL. I would have put my real estate taxes (about $2K per year) on that bad boy and let it report for a year at least--but that's just me.

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Well, it's not a very good card, outside of the categories it gives 0.8c per $ (so worse than a 1% card) so putting significant spend on it (for non-MS) is a waste.

Also, why let it report?  That doesn't impact closing decisions by the issuer, they know what you spent.

[morgacj2004]

I put between 2-4K BT and paid off both prior to 12 month expiration of grace period

[driftless]

High Total Credit Limits, $250K+, seem to be a common demoninator as well for those who experienced a CLD.