Credit One closed my account for no reason?

[mjathas70]

Hey all,

I have had my Credit One card for a little over a year now.  I know that they are far from the best, but it's one of the cards that I got while I was rebuilding.  I've always paid my bill on time and have never gone over my limit.  I've always used my card very responsibly.  Today, I received an email alert from Experian saying that the status of one of my credit accounts had changed, so I logged in to find that Credit One had closed my line of credit.  To add insult to injury, I JUST made a payment on that card last week.  My CL is (or was) $650 and my balance was only $198, so I was well below my limit.  I've been trying to log into my account on the app for the past 2 hours, but I keep getting a message saying that it's "under maintenance."  I called and got someone who barely spoke any English and I could hardly understand a word that they were saying.  I requested a supervisor, but they were no better.  The only word that I could understand from either of them was "closed" and couldn't make out anything else they were saying because their English was so horrible and they had such heavy accents.  I finally got frustrated and hung up.  I will try calling again on Monday, but I am wondering if anyone else has experienced this with Credit One.  I can't even begin to imagine why they would close an account that has always maintained good standing.

Any thoughts, ideas, or suggestions for me?  I'm at a complete loss.

[Ilinferno]

Sorry to hear this. Has anything happened with your other cards or accounts that they may have seen which would cause them to take action?

[mjathas70]

No.  They would have no reason to be looking at my credit anyway.

[shalimarcat]

  That is really odd. I had a Credit One card for a few years that I paid faithfully, and didn't use that often and they never did that to me. I wonder if there was some sort of computer glitch or systems error?  Hope you find you out soon. Do you have any other cards- if not it may be a good time to  apply.

[Ilinferno]

Companies and lenders will do a soft pull of your credit report every so often and if they see something that looks risky they may get proactive and start lowering limits or closing accounts. You can go to annualcreditreport.com and get your full free report for each burea. In addition to showing you all the data on your reports it has a section that shows you who has done a soft pull for each bureau. I reccomend checking it out if you haven't. 

[mjathas70]

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@Ilinferno wrote:

Companies and lenders will do a soft pull of your credit report every so often and if they see something that looks risky they may get proactive and start lowering limits or closing accounts. You can go to annualcreditreport.com and get your full free report for each burea. In addition to showing you all the data on your reports it has a section that shows you who has done a soft pull for each bureau. I reccomend checking it out if you haven't. 

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I do not need free credit reports.  I check my credit several times a week and have a paid subscription with Experian, which emails me live updates on all 3 of my credit reports.  I am fully aware of everything last thing that is on my credit reports and there is nothing that would cause ANY concern to any credit issuer.  I highly doubt they are doing random soft pulls.  My FICO scores are all in the low to mid 700s across the board with zero collections.

[Ilinferno]

@mjathas70 

Fair enough. Hopefully someone here more knowledgeable than me can help you out.

[millionsofmiles]

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@mjathas70 wrote:

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@Ilinferno wrote:

Companies and lenders will do a soft pull of your credit report every so often and if they see something that looks risky they may get proactive and start lowering limits or closing accounts. You can go to annualcreditreport.com and get your full free report for each burea. In addition to showing you all the data on your reports it has a section that shows you who has done a soft pull for each bureau. I reccomend checking it out if you haven't. 

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I do not need free credit reports.  I check my credit several times a week and have a paid subscription with Experian, which emails me live updates on all 3 of my credit reports.  I am fully aware of everything last thing that is on my credit reports and there is nothing that would cause ANY concern to any credit issuer.  I highly doubt they are doing random soft pulls.  My FICO scores are all in the low to mid 700s across the board with zero collections.

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You came heee asking a question to which people can only helpfully present theories. No need to get defensive. You asked the question. 

[FireMedic1]

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@mjathas70 wrote:

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@Ilinferno wrote:

Companies and lenders will do a soft pull of your credit report every so often and if they see something that looks risky they may get proactive and start lowering limits or closing accounts. You can go to annualcreditreport.com and get your full free report for each burea. In addition to showing you all the data on your reports it has a section that shows you who has done a soft pull for each bureau. I reccomend checking it out if you haven't. 

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I do not need free credit reports.  I check my credit several times a week and have a paid subscription with Experian, which emails me live updates on all 3 of my credit reports.  I am fully aware of everything last thing that is on my credit reports and there is nothing that would cause ANY concern to any credit issuer.  I highly doubt they are doing random soft pulls.  My FICO scores are all in the low to mid 700s across the board with zero collections.

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If you pull your free credit reports. You will see who soft pulled you. If Credit One is doing so, which I tend to believe. They may have seen something they dont like and that may have closed you down. Companies are always pulling your credit to see how your handling things. You asked for help. We'll give it.

[Itgem679]

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@mjathas70 wrote:

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@Ilinferno wrote:

Companies and lenders will do a soft pull of your credit report every so often and if they see something that looks risky they may get proactive and start lowering limits or closing accounts. You can go to annualcreditreport.com and get your full free report for each burea. In addition to showing you all the data on your reports it has a section that shows you who has done a soft pull for each bureau. I reccomend checking it out if you haven't. 

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I do not need free credit reports.  I check my credit several times a week and have a paid subscription with Experian, which emails me live updates on all 3 of my credit reports.  I am fully aware of everything last thing that is on my credit reports and there is nothing that would cause ANY concern to any credit issuer.  I highly doubt they are doing random soft pulls.  My FICO scores are all in the low to mid 700s across the board with zero collections.

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I understand that you don't feel you need to check your credit from more than one source but I can guarantee that it helps to do so to check accuracy. I have the same subscription - I can tell you the Experian app doesn't show you everything on your credit report. When they pulled mine for my Mortgage pre-approval there was stuff reporting that the Experian app and subscription do NOT show. It is incorrect in thinking that they don't do soft pulls - this is how they (credit card companies/Credit One) also provide credit increases. I have had 2 cards with Credit One for over 2 years and they soft pull my credit every 3 months. Contributors here on MFF are simply trying to help by making smart suggestions. However, you're not required to follow anyone's advice here.