I have never heard of that happening before, I wouldn't put up with it. I would go directly to the bank for an explanation. I can't see how they can open or close anything without your approval. Perhaps you should look else where for a charge card. I have been happy with Capital One.

You have been happy with CapitalOne. Ha, Ha. You do not know what a bunch of crooks with a license they are. They'll bleed you to the marrow of your bones, like vampires. If there were more fees to impose, they would, but thanks God, they lack creativity. You might say, " I will never get behind in my payments." Never say never. the future is uncertain, and you never know when the angel of death or sickness will come knocking on your door, and  that's when you do not need opportunistic vampires like CapitalOne-- and Citicards, and Orchard, or really evil ones like Providian.  It's bad enough with the taxes we have to pay nowadays.  Sufficient unto the day is the evil thereof. You do not need tomorrow worries.

Your posts sound very cynical. From Walmart to Banks who give credit cards, you seem to believe there is a conspiracy to make life difficult for you.

Speaking for myself, and recognizing your statement that we never know what the future holds is true, I believe that most economic goods and bads are caused by the individual themselves. Oh sure, there are exceptions. Good people fired for no reason. Sickness can creep up on us and cause physical and economic hardships. But by and large financial reverses are caused by the individual.

Most people who find themselves in excessive debt put themselves there all by themselves and the hard working Americans who bought stock in the institutions which give them credit should not lose because of their (people in excess debt) foolishness.

I suspect you have made some bad decisions to make you so anti business. Put the blame where it belongs, likely squarely on your own shoulders.

I will never get behind in my payments." Never say never. the future is uncertain, and you never know when the angel of death or sickness will come knocking on your door, and  that's when you do not need opportunistic vampires like CapitalOne-

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Of course the future is uncertain, we should all know this. I happen to be the one that charges in my family, my husband believes in paying cash. Over the years though, by using my credit cards and then paying

off the balance every month I have built a nice credit history. That credit history was able to get us a

business loan at a good interest rate when my husband was ready to stop working for others and start working for himself. I have built up the equity in my home and will leave that untouched incase of a

extreme emergency. I know how Capital One works, so if I abuse it, it would be my fault, not

 Capital Ones because I did read the agreement policy. As for what the original poster stated,

I too would think that would be illegal and would demand an explanation. Credit Cards don't control me,

 if they make me mad I threaten to close my account and then usually get my way. I just realised that

one of my department store credit cards carries a interest rate of 26%, I didn't realise this because

 I rarely use it. Even though like I stated, I pay off every month, I thought the rate was outragious so

I called the store, told them what I thought and closed my account. Maybe if enough people would do this, they would bring their rates back down to something reasonable.

it does seem unfair that if you cancil a card because they change the terms, it can harm your credit. you would think it would help it, but it doesn't. banks want to loan money to people who do not need it.

I turn over credit cards constantly (4 new this year,  3 cancelled)  usually because a better cash-back or points offer is obtained or I've exhausted some 0% transfer option.  But I will also cancel if I even think I might be ticked off at the issuer.  I even cancelled one once because they wouldn't quit calling me about their account protection scam.

I ALWAYS pay every card every month.

I have a mid-700 credit score.

I constantly get offers for pre-approved cards and direct cash loans,  some at pretty good interest rates.

I don't see your problem.  Cancel the bank card and get something from one of the big issuers.

Just make SURE you pay off the card(s) every month.  A credit card is only a surge tank for cash.  If you don't have the cash in hand or coming,  don't use the card.

I turn over credit cards constantly (4 new this year,  3 cancelled)  usually because a better cash-back or points offer is obtained or I've exhausted some 0% transfer option.  But I will also cancel if I even think

 I might be ticked off at the issuer.  I even cancelled one once because they wouldn't quit calling me

about their account protection scam.

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Over all constant cancelled cards do hurt your score, maybe not enough to ever affect you, but if

you ever

were at the mercy of the bank for an important loan, I am sure your procedure would be frowned on.

 

If you

are using 0% transfer options, you are not paying your cards off every month.

Well,  technically you're correct on the 0% APR thing.  But what I was doing was keeping the payoff amount in an FDIC insured money market at 5.2%.  The rule was the 0% balance had to be fully covered by the MM balance.  But when the sub-prime mess got hot,  I decided I didn't want to risk some corporate bankruptcy tying me up,  so I paid them off.  That was an aggravation because it takes a fair amount of time and many CC issues/cancellations to build up a large balance.  But I err on the side of caution.

As to the credit score scam,  the CC companies and their management are just about the lowest things on earth.  They get away with coercive tactics like this because the sheep let them.  If everyone turned over their cards every year and as a result obtained bad credit,  just who would they lend to then.

Do not let filth like this control ANY aspect of your life in any way.

Cancel the bank card and get something from one of the big issuers.

My bank IS one of the biggest issuers. The problem is that it feels the need every few years to switch all MasterCards to Visa and all Visa cards to Mastercards.

Joining a credit union is a good idea because most of them offer credit cards with much better interest than Banks and companies like Capital-one and Providian.  Providian is now Washington Mutual but it's still not a good bet.

My bank deciding every few years to switch my credit card back and forth between Visa and MasterCard. 
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Are you saying that if you had something automatically charged to your account monthly, they would change your account number and you auto payment would be declined? Ex: I have Netflex and they charge my credit card the 1st of every month.

Are you saying that if you had something automatically charged to your account monthly, they would change your account number and you auto payment would be declined?

Yes, the switch did mess up a couple of my automatic payments.

Have you gone to your bank yet and asked them why? I know I would be HOT under the collar about this and would take my business else where.

I don't believe this POST either..having your Banking Institution take away your Credit Card is the only INFO I have ever read in the FINE PRINT...there are basic safety ZONES used for Purchases and Payments....I think the over-all contract is FAIR if you have a LEGIT-BANK...

There are some Credit Cards that do fall far short of Customer Care and really are nothing more than SLICK-thieves....

Youe State should have a Banking Department....<<--that's who you should write your concerns about matters to:/

I did drop a Credit Card because of the shanannagins...which were thievery in my opinion...and I reported that Company to the Banking Dept. in CT../..Connecticut has had a mighty SHAKE-UP concerning many things....

I do believe in the theory that RATS-Jump-from-a SINKING SHIP....rats know how to swim.....

SOOOooooo......its real easy to find a good institution if your concerns are about stopping the really useless IMAGES in American life.

Banks do some nasty things. They really do.

All the more reason to not have a credit card at all.  Too many problems, issues, fees, and charges.  Life is so much nicer & you spend less money when you use cash for everything.

Hi There,

 

I have to agree with about credit cards – they are a necessary evil.  The only downside to living by paying cash for everything is that your usage of credit and thus your credit history starts getting obsolete and over the long run that is not good.  I always advice my small business clients to keep strict controls over spending but to use their credit cards and then pay them off at the end of the month.

 

The other part about credit cards that is now becoming self-evident is that if you don’t use them, you lose them.  May not be a bad idea to have some lines open in the case of an unforeseen emergency.

 

To read more about credit reports check out a detailed article posted on our site and good luck.

 

Vivek L  |  Business Plans, Business Loans, Free Credit Report and Credit Score analysis and much more..

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I am disgusted also with this new federal extra stealth tax  -- when you use points to pay for things, you will now note an additional .0005% federal tax (maximum $99).  Way to go socialism!

We're a socialistic society now that Obama has taken over and more laws are in place taking away more things.  For example, SF made a law that restaurants (McDonalds) are not allowed to include toys in happy meals if the food isnt deemed "healthy".  A NYC village just passed a law making it illegal to smoke cigarettes outside away form people.  As we allow for more and more of our civil liberties to be taken away, we more closely resemble Socialism.  Im just waiting for local governments make free things like google, free dating sites, and skype start charging taking our rights of free things and start taxing them.