ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

[DiamondStar]

In response to: Rhaeny, Hi Rhaeny, thank you for responding to my thread! I am so glad to have you here with us, not turning a deaf ear to my outcry of pain. The pain is real, Rhaeny, and to be honest with you...I don't know what's going on...but I will get to the bottom of this, I promise you that!!! 

So to your question, is in essence to place a blame on me, my answer is this Rhaeny: I called the Customer Service 503 number listed on the card, almost immediately upon exiting of the store. The customer service representative has put me on hold, and then asked me to wait for a supervisor. A supervisor was a British lady, and she was the one who told me firmly that there was NO INFRACTIONS that I was being punished for. That it was simply a "Business Decision" of the Capital One upon taking the account. Does this means that my rates were too good for them? I don't know. They offered no explanations. I know NOTHING at this point, this is my second day of investigation. One thing is true that my credit is not BAD, and I have no "BADDIES" as you mention. One card was paid yesterday, but let me tell you - I am NOT a spender, and I only have these cards so that I can consciously build my credit. So I conciously spend in the beginning of the month, and pay it off at the end of the month. In case of large purchase - I did replace tires on my cars recently. My credit was 2500, and I spent 500 for the tires. I think there's 300 still left to be paif off, not a big red flag considering that credit line is 2500. 

So to sum it up, NOTHING that I am aware of, as of right now, to piss Capital One off, and make me somehow the undesirable customer. It's easy however to point a finger at me and just say I am at fault for Orchard card to be bought out. I am not. I am on the wrong end of the stick. It's now pointing at me, and making me the scape goat. Apparently, I was not behaved well enough?. I disagree. You would have felt the same, have you been in my shoes.

[MovingForward_2012]

Okay thanks for this additional information. It really helps me understand better.

I only had the Orchard as my sole credit card for 3 years as well. From May 2009 through July 2012. I JUST began applying for new credit cards in July 2012.

Capital One has a Cash Rewards card that gives 1% cash back on all purchases plus a 50% cash back bonus every year. I've earned $140 since last July and you can redeem your cash back by check, statement, or through their rewards mall.

If your score is 700, you may be able to get a Chase Freedom or Discover IT. Those have 5% cash back categories every quarter.

It seems like Capital One may be beginning to axe Orchard customers that didn't apply for one of their cards. It almost seems like Capital One took over the boat and put a hole in it then brought over a rescue boat to give people an opportunity to jump aboard the rescue boat before it sank. Now that we are getting close to the transition being complete, those who didn't jump are drowning. This is just speculation but with a credit report as pristine as yours, although thin, you should not have been dropped.

I would pull your reports if you haven't checked them in awhile to see if everything is still kosher.

[Chris123nTx]

I know this will be hard to hear, but cap one has some of the best cards you may qualify for. Many if not most people on here have faced your kind of situation before. I know i have. I had cards closed in the big bank bruhaha from a few years back. It devistaed me emotionally credit wise and it just sucked. But in the end, years later i look back on it as something that pushed me to better credit knowledge and i now have scores in the 800 range with total credit available at $97,200. I do not say that to toot my own horn, but to let you know it is possible. Dont let the pain and the emotions hurt you in restablishing the credit you need. Depending on your income, and other such stuff, cap one may approve you for something that iis a step up from orchard. Many of ys have riding the cap one roller coaster. Hang in there, dont let emotion over ride getting a plan for new credit. Orcahrd and capone do not care about you as an individual. They are, i think, the largest credit card company in the US. Could be wrong on that, but they have millions of accounts out there, and it is all numbers to them. Good luck with it. Hang in there.

[Rhaeny]

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@DiamondStar wrote:

In response to: Rhaeny, Hi Rhaeny, thank you for responding to my thread! I am so glad to have you here with us, not turning a deaf ear to my outcry of pain. The pain is real, Rhaeny, and to be honest with you...I don't know what's going on...but I will get to the bottom of this, I promise you that!!! 

So to your question, is in essence to place a blame on me, my answer is this Rhaeny: I called the Customer Service 503 number listed on the card, almost immediately upon exiting of the store. The customer service representative has put me on hold, and then asked me to wait for a supervisor. A supervisor was a British lady, and she was the one who told me firmly that there was NO INFRACTIONS that I was being punished for. That it was simply a "Business Decision" of the Capital One upon taking the account. Does this means that my rates were too good for them? I don't know. They offered no explanations. I know NOTHING at this point, this is my second day of investigation. One thing is true that my credit is not BAD, and I have no "BADDIES" as you mention. One card was paid yesterday, but let me tell you - I am NOT a spender, and I only have these cards so that I can consciously build my credit. So I conciously spend in the beginning of the month, and pay it off at the end of the month. In case of large purchase - I did replace tires on my cars recently. My credit was 2500, and I spent 500 for the tires. I think there's 300 still left to be paif off, not a big red flag considering that credit line is 2500. 

So to sum it up, NOTHING that I am aware of, as of right now, to piss Capital One off, and make me somehow the undesirable customer. It's easy however to point a finger at me and just say I am at fault for Orchard card to be bought out. I am not. I am on the wrong end of the stick. It's now pointing at me, and making me the scape goat. Apparently, I was not behaved well enough?. I disagree. You would have felt the same, have you been in my shoes.

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Well I'm sorry you're taking what I've asked you as a slam against you and assuming that I'm saying its all your fault.  You are wrong about that assumption.  

Nonetheless, you're on a credit forum and you came here for help and I was offering it to you.  If something like this happened to me, the first thing that I would check is my credit report to make SURE that nothing bad has happened on there.  A frontline CSR is really the last person I would listen to because they often give out misleading information.  

Secondly to ask you if you have baddies is not an indictment against you, again this is a credit forum and many people, including myself have had to overcome these "baddies" in pursuit of better credit.  If you read just a few threads on the first page here you will see this question being asked on a regular basis.

The next thing I would check, which is what I already asked you about is utilization.   But since you've stated that you don't use your cards that much then I that is not an issue.  The thing is if you don't know what's on your reports right now, not from your last viewing in December,  to rule out anything negative being on there its difficult to help pinpoint the culprit of this decision that they've made, especially since you don't have anything in writing from them.

But I will bow out of this conversation since its apparent that emotions are high.  Good luck.

[Gunnar419]

DiamnondStar, nobody's trying to blame you for anything. Just trying to solve the problem. For that, it helps to have more information.

While it's true that card companies can close cards at any time, usually it turns out there's something more to it than may first appear. I'm relatively new here, but already I can't count the number of times that somebody started a thread saying, "X terrible thing just happened and I don't know why! My credit is great" -- only to find out with a little more probing that there's actually some underlying problem.

In your position, I'd get copies of all three of my credit reports and make sure there aren't any mistakes or other problems you might be unaware of. I wouldn't just rely on what the supervisor said; I'd verify for myself that there's nothing wrong.

Then if everything looks okay, you have a factual case when you go back to them and ask to have the card re-opened. Or you can be more confident of approval if you decide to app for a different card.

[DiamondStar]

Hi Rhaeny - 

Sorry for giving you the wrong perception that my emotions are "just too high" - I can handle the truth, I assure you, I am not a person who will view thru the world through rose painted glassed just so they can see what they desire to see. This is not who I am -- I am an advocate for the TRUTH, and to get to the bottom of truth I will.

THUS, you are most welcome to submit your feedback on this forum and your opinion IS valued. I, just like you, immediately jumped to the same conclusion. "What have I done?" was in fact the first question that I asked a customer service rep on the other line. That's why there was a long pause on the other line and then she asked to transfer me to her supervisor. THe rest of the story is known to you, as I have posted previously. 

I don't mean to sound harsh, Rhaeny, I only try to deduce what is the obvious in my case, and I alredy utilized feedback of the other posters: I just contacted Capital One. They told me they will be in touch with me and will be giving me a call in the next 24 hours. I will update you in regards to their answers. I am myself dying to know what the hell happened and how did we arrive from being a good customer to suddenly "Shut off", "Ejected", "Rejected", all in a matter of one day. Not good news, Rhaeny, but I can deal with it, I just want to know what my rights are, and what can be done to recucitate my credit at this hour of crisis. In regards to your concern to my credit score: I am actually a membere of a credit monitoring website, and I am sure that they would have notified me of any sudden activity on my records. However, I give you the benefit of the doubt: I requested my records to be mailed to me and will know within a week for sure, whatever is hidden, to be brought up to light.

Thanks everyone!

[solstice00]

Diamondstar- check your pm!

[calihlove75]

I would apply for a better card before the closed account appears on your credit report. With a 700+ score, I dont think you would have any problem getting Discover or Chase Freedom, or even Amex. Perhaps they did you a favor and pushed you in obtaining a prime card.

[LS2982]

Sorry to hear OP

If the card had an AF I would look at it as they did you a favor.

Time to move on to greener pastures!

[09Lexie]

Sounds like your scores are high enough to move on. I would.