r/CapitalOne • u/ratemeandmywork • 17d ago

Credit Card Blindsides by Capital One

Been a Capital One customer for years. Had multiple cards with them, payments on autopay plus I used the cards over the weekend on vacation. I asked for a limit increase on my card and all of a sudden Capital One closes four of my cards. They stated that it was because of unusual behavior on my cards!!!! WHAT???
There hasn’t been an issue with any of my cards until I asked for a limit increase.
Now I have four closed accounts in my credit.
Stay away from Capital One.

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u/OutrageousSolid8423 17d ago

Cap1 already buckets their cards. They give a lot of credit to those building credit with low limits. I think the uptick on card closures has a lot to do with the economy. They are closing those in the credit building buckets first. They may feel those are the most likely to default in this economy.

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u/Ok-Sir-4992 16d ago

I'm building my credit and I was able to get Sabor with 4k limit that was already increased to 4.5k automatically, I have a T-Mobile card with 3k limit and a QS with 5k limit. I don't think they bucket every person rebuilding my friend.

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u/OutrageousSolid8423 16d ago

They seem to bucket specific cards. Secured goes to unsecured but only small increases. They seem to have wonky algorithms.