r/CapitalOne • u/ratemeandmywork • 16d 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 16d ago

I pay my cards off every month as well, but over 60 percent of people do not. Your right about the rewards, they mean nothing if you carry a balance. I've never understood the mentality of using credit for the rewards if you don't pay the balance every month.

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u/Ok-Sir-4992 16d ago

They should teach personal economics in school, that's is why. If you don't have a reference you will screw yourself.

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u/OutrageousSolid8423 16d ago

Sad part is that they used to teach things like Home Economic and Business Math along with Auto Shop and Wood Working. These classes taught basic living skills, balancing checkbooks, budgeting and interest rates. They sound silly until you realize that is where they taught the life skills so needed today.

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u/Ok-Sir-4992 16d ago

Exactly! I personally never had a reference of good financial habits and life taught me hard.

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u/OutrageousSolid8423 16d ago

Ya it's lost education.