Capital One Financial / credit card (venture)

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With absolutely no warning, I received a form letter from Capital One dated November 13, 2017 telling me that my "account has been restricted as of November 13, 2017" and that it "cannot be unrestricted prior to closure." Say what? I readily admit I had not used the card for a long while so I attempted to chat with a supervisor to explain the situation (we had retired about 3 years ago and needed to curtail our spending for a while to live off savings so we could maximize our Social Security benefits). I explained that I would be more than willing to use this card with greater frequency now that our incomes were increasing. Was there any flexibility on Capital One's part? None! All the supervisor could do was keep repeating the same stock phrases rather than answer my question about how it made better business sense to alienate someone who was once a good customer rather than retain a customer by offering them a way to demonstrate their intention to be a good customer again. I almost fell out of my chair when the supervisor suggested I could apply for a new Capital One card. When I asked, "Why would I do that when the bank is not willing to offer terms whereby I could demonstrate my intention to be a good customer by using the card I already have?" he avoided answering my question and just said, basically, "It's Capital One's way or the highway." All I was asking for is (a) that warnings be issued before accounts are unilaterally closed (I received no such warning!) and (b) an opportunity to demonstrate my desire to be a good customer again.

Nov 19, 2017

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