Capital one closed my credit card accounts

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May 24, 2020
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I am writing in regard to two of my credit card accounts that were closed without explanation. I did not request these accounts to be closed. My accounts were in good standing with no negative history and credit score was over 780 prior to these account closures.

I am in the midst of refinancing my mortgage and these account closures have negatively impacted my credit score. One account was opened over 9 years and that has caused my score to decline by over 40 points.

I request both accounts to be reopened with credit history to be reported accurately. This is a stressful time during the Covid pandemic and these account closures have caused added stress.
 
Feb 21, 2018
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justlisa asks a very good question. There are some credit card providers that will, for customer safety, automatically close accounts that are inactive for a certain period of time. When I worked for a retailer a few years ago that offered credit cards through Capital One, accounts without activity for six months were automatically closed.

This is generally for consumer protection to avoid fraud.
 
May 30, 2019
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In addition to Inactivity, there are many reasons a credit card issuer can close a card, all legal: overuse of credit elsewhere; overuse of credit on those cards; too many recent hard credit inquiries; legal action; suspected fraud; etc.

By law, the credit card issuer must provide a reason for closure in writing (or email these days). You should ask the credit card issuer for a statement for reason for closure. From there, you should make a request directly to the card issuer to appeal.
 
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jsn55

Verified Member
Dec 26, 2014
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I am writing in regard to two of my credit card accounts that were closed without explanation. I did not request these accounts to be closed. My accounts were in good standing with no negative history and credit score was over 780 prior to these account closures.

I am in the midst of refinancing my mortgage and these account closures have negatively impacted my credit score. One account was opened over 9 years and that has caused my score to decline by over 40 points.

I request both accounts to be reopened with credit history to be reported accurately. This is a stressful time during the Covid pandemic and these account closures have caused added stress.
Have you discussed this with Capital One?
 
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AMA

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Dec 11, 2014
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Are they closed or just locked? Capital One may have some sort of identity theft algorithm that got triggered by the mortgage's request for your credit report. Have you contacted Capital One?
 

Neil Maley

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Dec 27, 2014
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www.promalvacations.com
Your credit scores can also be lower by hard inquiries on your account.

The answer we need from you was your conversation with Capital One? You say you asked them to re-open the accounts. Why were they closed?
 
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May 30, 2019
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It is frustrating when a FICO score takes a hit.

When you purchased your Tesla last December, did you use a financing plan or was your credit checked? Those would have been hard inquiries, which in combination with your mortgage refinancing would impact your score and could lead to the bank cutting back or pulling on your credit line. As mentioned, there could be a myriad of other reasons.

This forum promotes self-advocacy. It is not likely that the bank will respond to this forum, especially in regards to personal credit issues. It would be helpful to find out what the bank told you are the specific reason(s) for closure and share that here. Just be sure not to post any Personally Identifiable Information.
 

YAK

Jun 1, 2020
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I just had my Cap One account closed for not using it for at least 3 years. Appears that at they are purging accounts that don't make them money. Will miss the available credit on my credit score or having it for emergencies but I bet I could get an account with someone else.
 
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Dec 12, 2014
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Have had this happen with cards from multiple banks over the years. While this may not help you with your current problem, for my rarely used cards, I set a calendar reminder every 6-12 months to use a specific card. I then use it to pay for some trivial purchase & pay off the balance to maintain activity history.
 
Sep 26, 2017
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Have had this happen with cards from multiple banks over the years. While this may not help you with your current problem, for my rarely used cards, I set a calendar reminder every 6-12 months to use a specific card. I then use it to pay for some trivial purchase & pay off the balance to maintain activity history.
Same here and one of mine sends me a reminder before preparing to close the card so I know to go use it somewhere.
 

Mel65

Mar 23, 2015
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I got a notice from BoA recently stating that my card hadn't been used in 3 years and if I didn't make a transaction within X days (can't remember) it would be closed, though they'd "hate to see me go." Are you SURE you didn't receive some sort of notice and ignore it? Change emails? Move without updating your address?
 
May 30, 2019
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I got a notice from BoA recently stating that my card hadn't been used in 3 years and if I didn't make a transaction within X days (can't remember) it would be closed, though they'd "hate to see me go." Are you SURE you didn't receive some sort of notice and ignore it? Change emails? Move without updating your address?
Barclays Bank is also sending notice/reminder letters as a courtesy. However, according to industry sources, Cap One & some other banks are not sending these type of letters. The banks have no obligation to send such notices -- harsh but true -- they can close accounts without notice for many reasons. Noting that, they have to share the primary reason for closure after the fact.
 

Mel65

Mar 23, 2015
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Barclays Bank is also sending notice/reminder letters as a courtesy. However, according to industry sources, Cap One & some other banks are not sending these type of letters. The banks have no obligation to send such notices -- harsh but true -- they can close accounts without notice for many reasons. Noting that, they have to share the primary reason for closure after the fact.
True, although it does seem shortsighted. When I got my notice, we were getting ready to buy new furniture, so I used my BoA card to reactivate it. Paid it off a month later before interest accrued, and voila. I've got another 3 years of access to it :)