Master Capital One CLD Thread

[AverageJoesCredit]

i wonder if i tell credit companies i know ...Jeff Bezos....(by name anyway ) if they'll  leave me alone? 🤔🤭

[Save-n-Invest]

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@Anonymous wrote:

Yeah, I got trimmed from $9,000 to $2,000. I only spend a little over $1,500 a year on it. All my FICOs are over 800 and my utilization is 1%, so they must really be broke to need my $7,000! 

Amen

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[CreditCrusader]

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@AverageJoesCredit wrote:

i wonder if i tell credit companies i know ...Jeff Bezos....(by name anyway ) if they'll  leave me alone? 🤔🤭

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I'm sorry, but I'm just incredulous that folks are acting stunned about these CLDs.

The mass closures of large accounts in good standing by Sync? Those are at least a bit confounding. After all, it's not as though the limits are being adjusted according to usage. They're being CLOSED.

But chopping CLs to match a pattern of usage is what CCCs should be doing, regardless of the economic climate.

There is no earthly business purpose justifying giving someone a $20,000+ CL if their spend is in the hundreds (or even low thousands). I know that gets me tarred and feathered here in MyFICOland, but it's just smart business to limit potential exposure.

[Shooting-For-800]

Out of the blue my Savor CL was dropped from $28,500 to $10,000.

Quite the gut punch.

I have a $0 balance and charge about $500 per month on it between 5-10 charges.

I usually pay it off before the statement hits.

0% offers dried up a while ago, now this.

My scores did not drop (around 720 fico8), I have not applied for credit recently, and my last Savor CLI request was over a year ago.

I have not been late on any cards and usually make at least 2 payments per month.

Same job, same income, same debt, same scores, same inquiries.

So far, my QS stands at $23,750 and my Venture stands at $30,000.

Fingers crossed.

Not happy but I get it.

Hope the data points help.

[Anonymous]

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@CreditCrusader wrote:

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There is no earthly business purpose justifying giving someone a $20,000+ CL if their spend is in the hundreds (or even low thousands). I know that gets me tarred and feathered here in MyFICOland, but it's just smart business to limit potential exposure.

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I agree.  I might give someone a high CL (especially if they have other cards with similarly high CL) in the hopes that they will use "enough" of it (might be say 25%) to be a good customer.   But if over the course of a year or so, they are using more like 2% at most, and perhaps still getting new cards, I don't have a strong belief that they will come round to using my card, so a CLD makes good sense.

[Anonymous]

I'm not stunned at all. Nor do I really care, because it's only open because it's 20 years old, and just used for one recurring charge a month anyway.  Just adding DPs.

[Remedios]

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@markhs777 wrote:

I also got scapled. From  30k to 10k. Just paid my annual fee last week. Proceeded to call CS and politely  explained that I put thousands thruough the card over the years and to either refund the fee or the card will be lay dormat and to cancel upon renewal. The CSR refused to budge and then asked him his name again and ID and told him I would be e-mailing Richard Fairbanks and tell him I wasn't pleased. Well amazingly the CSR found the system now allows him to waive the fee.

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I don't know why CSR refunded your fee, but it certainly wasn't because you mentioned Mr Fairbanks. 

In the last 5 years, his name and email address have been mentioned  more than Santa Claus in November, and they have been "contacted" for everything from latest removal to *Give me a puppy or QS1 dies*

If anything, this post should have been a separate thread regarding a nice thing CSR did for you. 

They can afford to lose customers, and they aren't (just like most lenders) worried about losing a few in order to preserve their bottom line.

[wasCB14]

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@Remedios wrote:

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@markhs777 wrote:

I also got scapled. From  30k to 10k. Just paid my annual fee last week. Proceeded to call CS and politely  explained that I put thousands thruough the card over the years and to either refund the fee or the card will be lay dormat and to cancel upon renewal. The CSR refused to budge and then asked him his name again and ID and told him I would be e-mailing Richard Fairbanks and tell him I wasn't pleased. Well amazingly the CSR found the system now allows him to waive the fee.

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I don't know why CSR refunded your fee, but it certainly wasn't because you mentioned Mr Fairbanks. 

In the last 5 years, his name and email address have been mentioned  more than Santa Claus in November, and they have been "contacted" for everything from latest removal to *Give me a puppy or QS1 dies*

If anything, this post should have been a separate thread regarding a nice thing CSR did for you. 

They can afford to lose customers, and they aren't (just like most lenders) worried about losing a few in order to preserve their bottom line.

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I wonder if he switched to a different address for higher-priority emails, or else has a team of people screening his emails and forwarding most of them to regular CS.

[Anonymous]

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@Shooting-For-800 wrote:

Out of the blue my Savor CL was dropped from $28,500 to $10,000.

Quite the gut punch.

I have a $0 balance and charge about $500 per month on it between 5-10 charges.

I usually pay it off before the statement hits.

0% offers dried up a while ago, now this.

My scores did not drop (around 720 fico8), I have not applied for credit recently, and my last Savor CLI request was over a year ago.

I have not been late on any cards and usually make at least 2 payments per month.

Same job, same income, same debt, same scores, same inquiries.

So far, my QS stands at $23,750 and my Venture stands at $30,000.

Fingers crossed.

Not happy but I get it.

Hope the data points help.

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Your situation is very similar to mine. $500+/mo spend, 27,500 down to 10K. No change in score, income, payment history. 

[Anonymous]

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@wasCB14 wrote:

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I wonder if he switched to a different address for higher-priority emails, or else has a team of people screening his emails and forwarding most of them to regular CS.

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Yes, Dick (as he wants me to call him) has switched his "real" email to richard.fairbanks123@capitalone.com