Capital One axes my wife’s credit card

Introduction

A few days ago, I wrote how Capital One had closed down my checking accounts.  That was sent to me on the morning of Friday June 23rd.  I had closed all my cc accounts over the weekend (even my Kohl’s and Neiman Marcus cards.)  I got lazy and didn’t get a chance to ask my wife to close down her cc account.  I was still able to log on to it on Monday June 26.  When she called the night of June 27th, the system told her the account had been closed.  Since it was after 5pm PST on June 27th, it’s tehnically June 28th to Capital One.  That means it took them 5 calendar days (3 business days to wipe out my wife’s account.)  

Shut down to NSF?

Because her cc was wiped out, that means they were going to wipe out my cc’s too.  That means that it was most likely due to the cc side that got me axed.  I had been charging up to my 30K CL and 15K CL on my Sparks for a year+ now and everything was fine.  Then last month, due to bad bookeeping on my part, a 28K payment to C1 got NSF’ed.  This was my first NSF with them and they were nice enough to not automatically charge me an NSF or even a late fee.  I’m guessing that the NSF put eyes on my account, which led to the shutdown.  It’s only a guess though because clearly I was MS’ing on the cards.

The odd thing was that when I cancelled Spark1, the next day, I noticed they hit me with a ~$250 interest charge (due to the NSF.)  When I called to cancel Spark2 a few days later, I had asked what a $1,000 credit was on the account (apparently they were going to mail me a check for my negative balance at the time of closure.)  The rep saw the interest charge and proactively said, “Oh, I can reverse that for you if you like.”  Uhhhh yes please!   That was nice of her to do that, even after my account was closed.

Lessons Learned

If you get shut down by Cap1, they will come for your household!  Also, try not to NSF.