Master Capital One CLD Thread

[CH-7-Mission-Accomplished]

I decided to just close both my SO's and my Savor cards that each had 30K limits.   My SO's limit had just been slashed from 50.7K to 20K on his Venture card, and though my Venture limit is still 50K,  I wanted to be rid of these Savor cards.

Over the years, we made many 1000s of $$$ by opening new Cap 1 cards, and then. usually combining cards.

[timbalero]

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@staticvoidmain wrote:

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@timbalero wrote:

I'm wondering if having my main checking and savings accounts with Cap1 is keeping me safe from CLDs (where I live there are plenty of branches).

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Probably not. 360 is my main checking and savings as well, and still, I got a CLD. At this point, I'm pretty sure they only care about your usage. I would put a big spend on it, hoping it's not too late, and cross my fingers.

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Darn. Well I might buy a new drumset soon and if I do I'll probably use the QS, but I don't really care what happens to the V1. At this point I only keep it open with the faint hope that they'll eventually allow me to PC it to the SavorOne.

[Anonymous]

I have nothing to lose since my limit is $850 lol. I told my dad about Cap One CLD  last week. He called me yesterday saying his limit went from $25K to $10k. 

[AverageJoesCredit]

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@Anonymous wrote:

I have nothing to lose since my limit is $850 lol. I told my dad about Cap One CLD  last week. He called me yesterday saying his limit went from $25K to $10k. 

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its a sad day when a Father clds before his son

[Bandit5160]

It just happened to me.  Got an e-mail from Capital One saying my CL on my Savor has been decreased from 10K to 5K.  They just halved that sucker.  I spend less than $500 monthly and always pay it off.  I used it for g]dining out and entertainment (movies, sports tickets).  And with COVID, I was using it even less than before.  So I guess I understand the decrease from their point of view.  It doesn't really hurt me so I'll just roll with it.

[jawbrkr]

Happened to me last week. It is my least used card. They knocked me down from 20K to 10K. I honestly dont even care. There was a time I was chasing high limits. Now I am looking for ways to lower. I dont need limits that high on all my cards. My venture was at 30K at one time. I asked them to drop it down to 20K. Now its at 10K.

[Anonymous]

I haven't been on here in a long while and I thought I would see lots of threads about decreases and whatnot but I don't notice any.

Cap1 recently sent a letter that they were going to decrease us from $13k (acquired by executive letter years ago) to $5k.

Any advice on getting them to change their ways?  Will it cause a cascade of other decreases?

[AllZero]

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@Anonymous wrote:

I haven't been on here in a long while and I thought I would see lots of threads about decreases and whatnot but I don't notice any.

Cap1 recently sent a letter that they were going to decrease us from $13k (acquired by executive letter years ago) to $5k.

Any advice on getting them to change their ways?  Will it cause a cascade of other decreases?

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Here you go. https://ficoforums.myfico.com/t5/Credit-Cards/Master-Capital-One-CLD-Thread/td-p/6119151

[M_Smart007]

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@Anonymous wrote:

I haven't been on here in a long while and I thought I would see lots of threads about decreases and whatnot but I don't notice any.

Cap1 recently sent a letter that they were going to decrease us from $13k (acquired by executive letter years ago) to $5k.

Any advice on getting them to change their ways?  Will it cause a cascade of other decreases?

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Sorry for your CLD   ...I doubt Cap1 would recon the SL?

I would only worry if your utilization were to spike way up.

[720andBeyond]

Can someone tell me when Capital One is sending these letters and emails from a timing perspective? Is it before statement cut, at statement cut, or just after statement cut? My last statement cut and I haven't seen anything yet, so fingers crossed.

I only have a $27K credit line, but I have ran roughly $23K through the card this year. I am hopeful that will keep them off my back for at least this year, but I typically don't make purchases to that degree each year, so my fear is I eventually will get the chop as well.