@Anonymous wrote:
@SouthJamaica wrote:
@LawStudentCivilis wrote:@VPExecutiveYes but my original point was the 360 options are comparable to a lot of suggestions made on this forum and even better than some, but you rarely hear about them.
Many years ago, my very first internet checking account was with ING Direct, which later became Capital One 360.
It was a great account. Once Capital One acquired it, it stayed good, except for the fact that Capital One owned it.
Capital One one day, for reasons which have never been explained, closed all of my accounts, including my Cap One 360 checking account.
By this point I had numerous credit union checking accounts which did all of the things my old Cap One 360 account, many doing them even better.
I thought Capital One closed all of your accounts for abusing the grace period on balance transfers one too many times?
1. I never abused anything.
2. Capital One never told me why they were closing the accounts.
3. I took it all the way up to the Executive Office, and was told by an apparently high up person: "We don't know why. All we know is that it was a back office thing. And when the back office closes accounts, they don't tell us why."
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:
@SouthJamaica wrote:
@LawStudentCivilis wrote:@VPExecutiveYes but my original point was the 360 options are comparable to a lot of suggestions made on this forum and even better than some, but you rarely hear about them.
Many years ago, my very first internet checking account was with ING Direct, which later became Capital One 360.
It was a great account. Once Capital One acquired it, it stayed good, except for the fact that Capital One owned it.
Capital One one day, for reasons which have never been explained, closed all of my accounts, including my Cap One 360 checking account.
By this point I had numerous credit union checking accounts which did all of the things my old Cap One 360 account, many doing them even better.
I thought Capital One closed all of your accounts for abusing the grace period on balance transfers one too many times?
1. I never abused anything.
2. Capital One never told me why they were closing the accounts.
3. I took it all the way up to the Executive Office, and was told by an apparently high up person: "We don't know why. All we know is that it was a back office thing. And when the back office closes accounts, they don't tell us why."
Oh my mistake. I figured from you saying this in response to someone saying all of their accounts were closed after abusing this that you must have had a pretty good idea of what happened here.
"Great post. I had exactly the same experience. Thought those fee-free, interest-free balance transfers were great, until Capital One without warning closed all my accounts, including my checking account which I'd had for 15 or more years, going back to ING Bank."
If you did it enough to get your accounts shut down, it was abuse by their standards. My use of the word "abuse" was not a judgmental one.
I was only guessing as to their reason for the closures. I couldn't imagine any other reasons.
I completely followed all of their rules and handled the accounts, and all my accounts at other institutions, in exemplary fashion.
The only "abuse" was on their end. They violated the law by failing to disclose the reason for adverse action. They were required by law to do that.
I don't consider it abuse to accept a promotional balance transfer offer that is extended to you.