One Capital One client revealed his account was closed after making the same basic mistake twice.
The client, a student, was notified by mail that he could no longer use his bank account.
The Capital One SavorOne Rewards for Students program is a cash-back credit card for customers with little or no credit history.
But a Reddit user recently posted on the r/personalfinance community to reveal that his girlfriend had a bad experience with the card that led to her Capital One account being closed.
“I’m asking this on behalf of my friend whose SavorOne student account was recently closed by Capital One,” the Redditor wrote.
“They sent her a letter stating that her usage pattern was against the terms of the contract and sent her a fraudulent letter informing her that the account was closed.”
The Redditor suspects they know the reason for the purge.
His girlfriend tried to pay off the card using a checking account that had no funds.
“Capital One gave her a credit for the payment before it was made, so she went over the credit limit a little bit,” he explained.
“This happened twice, and I found out and paid for the cards within a month of finding out.”
The Redditor said the cards’ balance was zero when the account was closed.
“What I’m wondering is if 1) this will impact her credit score, and 2) if it will impact her applying for future credit cards with Capital One or other companies.”
The US Sun has contacted Capital One for comment.
But it is not surprising for banks to close a customer’s credit card without warning.
No credit
A Bank of America customer recently took to YouTube after his business credit card was closed, leaving him confused.
“I reached out to Bank of America and was trying to get an explanation as to why, and they wouldn’t give me any,” said Vaughn, a former owner of the Business Advantage Cash Rewards card.
“They didn’t even explain to me that my bank was closed,” he said.
Vaughn told his viewers that he hasn’t opened another account with Bank of America since, claiming it left a “bitter taste in my mouth.”
One Chase customer said their account was closed without warning and they were charged a $25 fee.
Wells Fargo has closed the accounts of several customers who operate in a certain well-known industry.