We live in Tucson, Arizona, which is located in Pima County and is considered a declining market for real estate. I am not sure if this has anything to do with Capital One's decision, but just is case:
Capital One card holders beware: Use it or lose it.
I just got a letter in the mail telling me that they had closed my account for inactivity. Granted, it had been a while since I had used the card, but since I had requested a new card on more than one occasion, and they never issued one, it was not entirely my fault. This was the only notification I received, no warning letter and no options. When I called to have the account re-opened, they said they could not and I would have to reapply, which we all know puts a ding on your credit.
I opened this account in 2001 and had never been late on a payment and in fact, had paid my balance in full every month. Guess since they weren't making any money off me, they no longer wanted me to have the card, but I have now lost a long term credit line from my credit rating. We all know losing a long term credit reference is not good for anyone's credit.
I totally disagree with the way this was done and would suggest that anyone with a Capital One card to be careful of this or other tactics.
For those that do not have a Capitle One card - DON'T GET ONE.
Otherwise, have a great day!
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