Another account shutdown from Cap1

LearnMS

Level 2 Member
#1
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
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 ?
 

LearnMS

Level 2 Member
#3
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 ?
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....
 

Cmonman76

Level 2 Member
#4
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.
 

projectx

Level 2 Member
#5
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.
+1. More than likely the reason. That you were $40 short of the bonus was probably coincidence. Still sucks though... sorry to hear.
 

LearnMS

Level 2 Member
#6
+1. More than likely the reason. That you were $40 short of the bonus was probably coincidence. Still sucks though... sorry to hear.
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...
 

LearnMS

Level 2 Member
#8
Huh? Chase sees you opened one account, so it counts 1/24. Unless I'm not understanding what you mean?
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
 

projectx

Level 2 Member
#9
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
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.
 

LearnMS

Level 2 Member
#10
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.
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).
 

Josh F

Level 2 Member
Charity Forum Mod
#13
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
They not only see accounts opened (and still open) within the last 24 months they also see accounts opened (and now closed) within the last 24 months. You don't get hit twice for opening and closing an account - it still counts as 1 whether the account is currently open or closed. Essentially you can't just close a bunch of accounts to try and escape 5/24.
 
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