New Reviewer
Capital One - Capitial one decreses credit for responsible users
Update by user Aug 28, 2020

no help just excuses from them

Original review posted by user Aug 28, 2020
I had 5500 dollars of credit with the company. i use the card monthly for 5 years and pay off monthly. On 8/25/20 i get mail from the Capital One Corporate saying they have decided to decrease my limit to 1500.00 I never requested a...
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1 comment
#1920048

"increases my utilization which lowers my credit score " Here's what you do, pull the terms you agreed to, show them the part where they're responsible for your credit score beyond fair reporting, and/or are in the credit building business and you'll be fine. If you don't have that, time to pay down that card and move on with your life.

Once it's paid down, your ability to keep going into debt will return. Here's the thing, it's happening to a lot of folks who deal with banks these days. It's not personal...Stop whining...It's business.

Stop expecting the person who answers the phone to have the ability to reverse a decision that they had nothing to do with. Stop expecting the person who answers the phone to explain something (beyond the stock explanation) that was decided in a board room in their absence(sarcasm).

ID
#2139949 Review #2139949 is a subjective opinion of poster.
Product
Capital One Credit Card
Pros
  • Ease of use on web site
Cons
  • Credit limit decreases at company discretion
  • Denial of new card
  • Bad service and rates are extremely high
Loss
$4000
Preferred solution
increses credit llimit to 60,000 and intereste rate of 4%