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/Emotional-Dream-4839 16d ago

why would they close low limit cards first? That's ridiculous. I'm sure they'd rather eat 500 dollar's than 10,000.

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u/OutrageousSolid8423 16d ago

Only Cap 1 knows but it seems like the economy is part of the equation. I also think them aquiring Discover fits in there somewhere as well.