After having a Capital One credit card with the same credit limit for almost 20 years, and hovering near that limit for most of the last 5 years, I withdrew from an IRA to pay off the balance. (Why keep money in an account earning less than 1% when paying close to 20% on a credit card?)
One month after paying off the balance, they call and say they are lowering my credit limit from $5,000 to $500 (yes, 90%). They say because I have too many cards with balances. Doh, I paid off most of my other accounts at the same time, so I have a lower total balance than I have had in over ten years.
OK, I know the credit line is their call, whether fair or not. Still, I am bitter at their recent action.
I had been an Orchard Bank cardholder for 13 years with a perfect history. Capital one acquired my credit card account and problems began instantly. I was not able to access my account on line after being railroaded into the downward spiral of capital one. My Orchard Bank Mastercard expired in May of 2013, and the incompetent capital one finally sent me a credit card in February after contacting them 13 times. I still am not able to access and manage my account on line. I continued to make prompt payments by US Mail and demonstrated my integrity. Capital one has yet to assist me to access my account on line. The BBB was contacted (they of course are equally as pathetic) and I had a call from the capital one executive office. The idiot who contacted me is completely incompetent and I'm sure needs help dressing himself before his ride to work on one of those short buses where the riders lick the windows. Don't waste your time with Capital one, they are the bottom of the heap. Capital one has no customer service whatsoever. Please learn from my terrible experience, and don't have anything to do with these mentally deficient idiots!!
This bank is very money hungry. After wage garnishing my check for several years, I received a letter saying all debts were paid in full, then 15 months later they come back and say "oh sorry, we forgot one account" & start wage garnishing again. In the mean time, since they told me all my accounts were paid in full 15 months ago, I went out & got a truck loan & a personal loan for a new roof. Now they come back & tell me that they will be wage garnishing again because they made a mistake! I wouldn't have went out & got 2 loans if I have known that they would wage garnish again! Now I am cash strapped. When I tried to explain this to them talking with a Elliott Buettner, he could care less. He didn't even attempt to try to understand or investigate why I was told all debts were paid & then come back in 15 months to say otherwise. All he had to say was "you owe this money & we will wage garnish your check until it is paid. But why did you tell me all was paid 15 months ago? why did you send a letter to my employer & tell them to stop all wage garnishments, because all debts are settled? & then come back 15 months later, after I moved on with my life & took out two loans, & start wage garnishment again? How am I supposed to pay all my bills now? They even gave me another credit card during the 15 months that I was without wage garnishments! Now with the wage garnishment back & I asked them how I was supposed to pay this new credit card bill? Capital One's answer to this? I was told my account was suspended and to pay the card in full in 30 days! See what I mean about no compassion? Not only do they wage garnish 15 months after they say in writting that all debts were paid in full, but when I complain about it, instead of any concerns for me, or try to help out or have any compassion what so ever, they closed my current account & make me pay it all in full in 30 days! I just told them that I can't pay all my bills with this wage garnish, so they just