GM Buypower card closed by Capital one

Old Nov 24, 14, 4:31 pm
  #1  
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GM Buypower card closed by Capital one

Anyone else get a letter from Capital one closing your card? My Amex BC was closed on Oct 21st, now this. Basically with same language as Amex closer, spending not consistent with expectations of family house hold.
saw2645 is offline  
Old Nov 24, 14, 4:44 pm
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Originally Posted by saw2645 View Post
Anyone else get a letter from Capital one closing your card? My Amex BC was closed on Oct 21st, now this. Basically with same language as Amex closer, spending not consistent with expectations of family house hold.
Not sure why they would close the GM card. The version I see is 5% on only the first $5000 and 2% thereafter. And can only be used on a GM car. Very surprising they would shut that down for overspending.

What kind of monthly volume were you doing on the OBC?
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Old Nov 24, 14, 4:47 pm
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Originally Posted by worldtravels View Post
Not sure why they would close the GM card. The version I see is 5% on only the first $5000 and 2% thereafter. And can only be used on a GM car. Very surprising they would shut that down for overspending.

What kind of monthly volume were you doing on the OBC?
They are upset you maxed out the 5%($250) LOL.
I wonder if they just saw other issuers closing accounts had an impact on their decision.
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Old Nov 24, 14, 4:51 pm
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Volume on the GM was never more than 7500 in a month, and had not even used it for anything considered MS in the last month.
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Old Nov 24, 14, 5:00 pm
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The GM card wasn't a good card anyways. There was no way to cash out the points until you bought or leased a GM car.
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Old Nov 24, 14, 5:44 pm
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I always wanted to MS myself a car. Sad days.
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Old Nov 24, 14, 6:02 pm
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Consider this a blessing. Like another user said, you can only cash out via purchasing a GM vehicle. I own an Impala and my father has a Yukon XL. NEVER again will I purchase a crappy GM product. Consider this closure a blessing.
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Old Nov 25, 14, 3:05 pm
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Originally Posted by commdiver View Post
Consider this a blessing. Like another user said, you can only cash out via purchasing a GM vehicle. I own an Impala and my father has a Yukon XL. NEVER again will I purchase a crappy GM product. Consider this closure a blessing.
yep, i am ford kinda guy , for some reason i see GM==Garbage Machines.
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Old Feb 7, 15, 9:44 pm
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Ouch, sorry to hear about it. any other experiences?

Did you get to keep the points by any chance?
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Old Feb 7, 15, 11:39 pm
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Originally Posted by commdiver View Post
Consider this closure a blessing.
true dat
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Old Feb 8, 15, 3:55 pm
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A typical American dream
Originally Posted by horseymen View Post
I always wanted to MS myself a car. Sad days.
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Old Feb 21, 15, 7:19 pm
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Just got mine closed too.

Whatev
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Old Feb 22, 15, 1:52 pm
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This was a truly ...... card...
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Old Feb 22, 15, 2:12 pm
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To buy Chevy's cheapest car (spark) at $13k, you'd have to spend about $643k on this card. Then you'd have to drive a Chevrolet Spark
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Old Feb 22, 15, 2:15 pm
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You could of use the savings to lease one too.
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