joejoe2

Capitalone closed down my GM card. I only used it for MS. My 3K award dollars are gone. Has anyone had any luck taking them to small claims court or arbitration for the reward dollars. If so I would like to hear the story

sosamo

When CapOne closed all my accounts including my Venture card which had 90,000 points. They gave me a credit of $450.00 to my Venture card automatically. I didn't even know the account was close until I got an email stating that I got a credit of $450 to my account. The card was closed, so I can't use it. So I just called CapOne, and ask them to send me a check. Which they did.

FrankMS

With all the CapOne shutdowns, it would make sense to spend cash/points as soon as they're earned.

Zgirl

My CLs were high enough ($30K and $15K)---there was no need to cycle. I was surprised when they closed my cards based on nonsense. Previously, CapOne was servicing people with bad credit so I guess they have decided to go that direction again. Paying 2% cash back was probably not profitable for them.

DjRocket

Never understood the logic behind it. Can you elaborate? I deposit with a teller and the money becomes available immediately, as the teller processes the transaction. If I do it through the ATM, it takes several days to clear the funds, which suggests the banks are more cautious with the ATM deposits than with a teller. In fact, a BOA teller told me once that their ATM wouldn't even accept MO's (she was wrong). So why would going through the teller be a problem ?

Mancolt

To add to this question, I worked at PNC about 8 years ago as a teller. Someone had to physically remove and validate all ATM check deposits. So a teller is still seeing the check. However, you could argue that because the teller isn't interacting with the person on the spot, and is just trying to process the transaction as quickly as possible, they're less likely to question the MO.

And it's also possible the process has changed in the last 8 years, and there is much less manual intervention required.

FlightNurse

There are two side of CapOne, one with bad credit and one with good credit.

AlohaDaveKennedy

This is misleading - actually there are two faces, not two sides to Capital One. And they are by no means the only double faced bank.

BTW, now that FICO is jacking their scores to loosen credit, best find a copy of The Big Short: Inside the Doomsday Machine and grab your bag of popcorn. As we learned from the great recession, when bankers run out of creditworthy customers, they just lower their creditworthy standard.

Happy

Years ago CapOne has a very empowered Social Media team that worked the Twitter. The team members directly report to the Exec office and can work with multiple depts inside the organization when the situation warranted (to solve customer service issues), when the bank tried to woo upper market customers thru the introduction of Venture card and the 100K miles match.
Not sure if it is still the case though. (an empowered Social Media team that is.)

If your business involved rental properties, and you used the Spark cards to take care of the expenses, but a dept in CapOne thought you were putting personal renovation on the Spark cards, you could try the Social Media team and asked the team member to contact privately (DM via email and phone call) if you want to pursuit,

Zgirl

The problem is Cap1 closed my business CCs for using them for business spending which was not consistent with expectations of personal/household use They didn't close my business CCs for using them for personal spending.

I'm done with Cap1. I heard of a lot of people having their Cap1 CCs closed for no reason (Mamibear etc) just recently so I just moved on.

Superorb

Tellers ask nosy questions, ATMs do not.

Happy

See if you can get Chrome translate this thread for you.

After you read and understand what is about, you will not hold the same view on depositing your instrument thru either ATM or over Smart Phone. Hint - while ATM is silent, ATM can also bungle up your deposits even AFTER the deposits were posted to your account! And the horror is - it seems those who had issues reported on the above thread have not had much of a recourse.

http://www.mitbbs.com/article_t/Money/32869679.html

It does not matter whether you use a teller or ATM, shut down is done by back office when the account is being flagged by analytic tools.

FrankMS

True, but tellers are easily satisfied by our truthful answers, and once you have a few tellers on your side and you're on a first name basis with them, there's no going back to an ATM.

AlohaDaveKennedy

Sad, but true. My local credit union's analytic tool flagged my account, but the back office folk just said to lay off depositing MOs, rather than put out a contract out on my account. Don't fault any bank for not wanting your legal deposits - when they can wisely have access to all the funds they need from Mexican drug cartels.

Remember Wachovia Bank (busted for running a Mexican Laundry) with their slogan - "Wachovia. Uncommon Wisdom" or their acquisition, SouthTrust, with the slogan "You're Not Just Another Customer. We're Not Just Another Bank?" All the analytics in the world cannot save the banks from their own greed.

gw14

What was your volume that got you flagged?