I just received a rather shocking letter from Capital One… The Business Rewards Platinum card I’ve held since 2002 was canceled because I didn’t use it recently. Well, like many of us, I’ve been trying to keep credit card purchased down. Too bad for me!
I need to use the card, next week in fact. The only good thing is that I found out about this prior to trying to make the purchase. As it is, my ability to do business is now somewhat compromised by what appears to me to be an arbitrary and short-sighted policy.
I paid my bills, and had a zero balance. That is the problem, I guess. I just lost a business credit card with a $20,000 limit, and do you think I can get another in the present climate? I doubt it. So, the next large hardware purchase I need to make will be difficult.
Didn’t we just lose a lot of businesses when banks pulled their lines of credit without notice? It’s happening again. Take notice, and use your cards, even if you don’t need to. Or lose them without warning.
For what it is worth, I was told by Capital One representatives that automated phone calls went out to warn customers about the possibility of cancellation for underusing cards. They didn’t show up on my voicemail OR the answering machine at home. Did they try? Did they reach a wrong number? Who knows. Capital One doesn’t care.
Yes I am mad, and this is a rant.
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