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Another account shutdown from Cap1

Discussion in 'General Discussion | Credit Cards' started by LearnMS, Jan 6, 2018.

  1. LearnMS

    LearnMS Level 2 Member

    This is bad!

    I applied for Cap1 Spark biz card couple of months ago. Bonus was 1k after 10k spend. I was just $40 short of 10k when I discovered my account is closed.

    I did MS on this card with OD/OM offers and GC purchase. I did pay off the normal way (no debit or external payments). And then they dropped the axe.

    Exact same thing happened with Cap1 venture card last year. But I had that card for 3 years. I don't use these cards much except for certain GC offers. It just sucks on missing out on 1k bonus.

    Did I commit a crime doing MS on this card? Cap 1 has no history of reviving close card accounts.

    just a DP if it helps anyone...
  2. PurpleSquirrel

    PurpleSquirrel MS Nuts

    Sorry for the abrupt shutdown. I've been MSing on Cap 1 for the last 5 yrs. Customer service agents thank me every time for using the card so profusely when I call the 800 number. Just curious, what was your credit limit ?
  3. LearnMS

    LearnMS Level 2 Member

    Credit limit was 10k. I was not even charging the card over that limit. I used to like Cap1 until they shut me down. And I am not big on MSing on this card. I will be curious to know why they did that other than the obvious....
  4. Cmonman76

    Cmonman76 Level 2 Member

    I think the closure was more due to the previous shut down on your venture card. I have seen others that were shut down then able to open another Capital One card again only to have it closed within a month or two just like you.
  5. projectx

    projectx Level 2 Member

    +1. More than likely the reason. That you were $40 short of the bonus was probably coincidence. Still sucks though... sorry to hear.
  6. LearnMS

    LearnMS Level 2 Member

    I called up and found the same. They look at previous and current accounts and make that decision. It's final. Not sure how I got in their bad books that fast. It makes sense if MS is the only reason.

    Yea, it sucks to lose out on 1k with just $40 short. Weirdly enough, they didn't give me this reason but said due to the nature of this shutdown, I am not eligible for this promotion anymore. Better ignore this bank for few years. It dinged my credit score, Chase will count this 2/24 (one for opening, other to close), time, money and effort lost into meeting almost 10k........another lesson learned...
  7. projectx

    projectx Level 2 Member

    Huh? Chase sees you opened one account, so it counts 1/24. Unless I'm not understanding what you mean?
  8. LearnMS

    LearnMS Level 2 Member

    Yes....I know one Chase rep said they will see not only opened accounts, but also add closed accounts in last 24 months. I know it's weird but one may get a different answer when you HUCA with Chase
  9. projectx

    projectx Level 2 Member

    Closed accounts do not count against your 5/24. Now if your app goes to manual review they may see the Spark card opened and closed in a short amount of time... whether or not that will count against you I don't know.
  10. LearnMS

    LearnMS Level 2 Member

    Yes, could be. When I was on a call to get a Chase card approved couple of years ago, this is how an agent mentioned to me. Anyway, it's not a concern for me right now....didn't anticipate this shutdown. Not sure if CFPB route leads to anything......(I know I am MSing).

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