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@UpperNwGuywrote:A good argument for paying each of your credit card once a month after its statement cuts is that the statements will document your use of those cards. Lenders will see your overall usage when they pull your data from the credit bureaus. While AZEO may be a good technique for improving one's credit score, it doesn't necessarily help you with maintaining high credit limits. I recommend using AZEO for a period of time, and then stop using it once the credit score has risen.
I dont think AZEO has anything to do with it because Cap1 has a record of all your transactions.
What Cap1 is doing is basically reallocating CL to new or other accounts without increasing their liability.
@sjtwrote:
@UpperNwGuywrote:A good argument for paying each of your credit card once a month after its statement cuts is that the statements will document your use of those cards. Lenders will see your overall usage when they pull your data from the credit bureaus. While AZEO may be a good technique for improving one's credit score, it doesn't necessarily help you with maintaining high credit limits. I recommend using AZEO for a period of time, and then stop using it once the credit score has risen.
I dont think AZEO has anything to do with it because Cap1 has a record of all your transactions.
What Cap1 is doing is basically reallocating CL to new or other accounts without increasing their liability.
CO doesn't see your other accounts when the SP your reports. As UNG said AZEO can have a negative impact for high limit cards and CLI. CO doesn't see any credit usage. AZEO is for the birds, IMO.
Banks also have to maintain a capital buffer against any unused CLs so they are looking for you to use the card not just keep it in a drawer. If you dont use it they will assign it to someone who does.
email to ceo sent. based on past experence the exec office is very responsive, I expect that a computer blew through my account and that once someone manually reviews it that a mutually agreeable compromise will be the result. or not. most individuals like a happy ending to a story, the ball is in their court to achieve this. taking away 73% of ones credit line before coffee leaves a bad taste in my mouth. thank you for the comments.
@bourgognewrote:email to ceo sent. based on past experence the exec office is very responsive, I expect that a computer blew through my account and that once someone manually reviews it that a mutually agreeable compromise will be the result. or not. most individuals like a happy ending to a story, the ball is in their court to achieve this. taking away 73% of ones credit line before coffee leaves a bad taste in my mouth. thank you for the comments.
CEO response "Adios Amigos!"
@UncleBwrote:
@fuzzlewrote:they are also disappointed that balances on your non-Capital One accounts are too low
That caught my eye as well.
It's amost like if they see you with a balance (or balances) with another lender they think there's at least a chance they might eventually get a piece of the action, but if there's no balances anywhere they think there's no reason you need the limit.
Sorry to hear the news, @bourgogne... it always sucks when this happens.
So, how hard is this "reason" enforced you think? Because I don't mind having the SPG start reporting a full balance every month for it to report to the CRAs so wondering if that's enough to deter any action. Because if not I'm probably better off canceling my Venture before the AF hits in October since CapOne doesn't do partial credit allocations.
@Gmood1wrote:
The one factor that keeps popping up is the not enough usage on other accounts. So far the majority of the people I've seen here get CLDs.
We're also not showing usage on their other cards, for whatever reason.
As some of the seasoned members here have mentioned. AZEO might not be the best long term approach for those that have high limit cards. Especially with Capital One. Apparently they are looking at your overall usage, not just what transactions you do with them.
Mine still sits a $49.5k for now. It's getting $3 a month. Lol
However, I do have 12 or so other cards reporting balances monthly on a regular basis.
my note to them was very calm and high level. I mentioned a number of things, one was that they should drill into my accounts and check out my high balances on some other cards. I am transparent that I will do anything for points, I have put several car down-payments for others on my cards, purchased a cruise for someone on my csr and tons of other nonsense but the net of it is very high balances at times for which none have reported. when they call me I will offer other account snapshots which they will decline but the big question they should ask is why am I not using their card anymore. what they did instead is make sure I will never use it again.
@redpatwrote:
@bourgognewrote:email to ceo sent. based on past experence the exec office is very responsive, I expect that a computer blew through my account and that once someone manually reviews it that a mutually agreeable compromise will be the result. or not. most individuals like a happy ending to a story, the ball is in their court to achieve this. taking away 73% of ones credit line before coffee leaves a bad taste in my mouth. thank you for the comments.
CEO response "Adios Amigos!"
not a romantic huh, shame. I will get a call in the next 72 hours and they will restore a good chunk of my credit line. I live outside of hollywood, trust me happy endings sell