How Credit Card Companies Impact Your Credit

#Capitalone is the worse #creditcard anyone would want to have. This is according to a very disgruntled former customer who came to me at The Neoliberal in an effort to share his story which we find credible after our investigations. Indeed, the customer stated that they’re unscrupulously strategic in terms of how & when they report to the bureaus & will freeze your account so that you have zero utilization if your credit improves which lowers your score new score & eventually continue to keep you as a customer with them. When they get wind of your improved credit position, they become nervous as customers usually leave to take advantage of better cards with lower interests and breather benefits or they usually have to lower their rates and offer more benefits so as to not loose you. But they’d rather not offer benefits but continue to take advantage of keeping you as a dependent customer. 

He reiterates that Capital One is the worse company ever! He then started to share with our reporter as if we were Capital One saying “You’re deliberately messing with people’s ability to improve their credit positions by freezing their credit utilization at zero and reporting that! You’re absolutely awful. You did that to a Customer!”

@CapitalOne after this customer paid you on July 22nd, bringing his account to a 0 balance, & then redeemed his points bringing it to over credit. You freeze his credit limit at 0.0 which prevents use for dumb reasons “to process his payment” which is already out of his @PNCBank. 

@CapitalOne then you report him to the #creditbureaus for #lowutilization; when it’s low because you froze his credit ability saying you’re processing a payment that’s already processed & out of his bank @PNCBank. This affected his #credit dropping it by 13 points. It was deliberate!

His credit score had climbed 50 points prior to July 22nd, & on July 22nd He paid his @CapitalOne credit balance ahead of the reporting period so that his credit wouldn’t drop due to the huge balance He had. He cleared it & you took the payment & freeze his credit at zero, reported that—July 25 - Aug 1) period

#Capitalone is the worse #creditcard anyone would want to have. They’re unscrupulously strategic in terms of how & when they report to the bureaus & will freeze your account so that you have zero utilization if you’re credit improves so that they can lower your score & keep  You

@CapitalOfficial #Credit Does Not want your #credit to Improve. They say they’re working with you to build your credit; as they’re that type of credit company. But as soon as it looks as if your credit is improving, they freeze your account for 14 days (from July 22-August 2)

Thats after taking your payment which is already posted to your bank account & then report you to the #bureaus for low #zero credit utilization; which in effect impact your credit score. In effect what they did was to intentionally prevent your credit from improving so that they So that they @CapitalOne can continue to benefit from your low credit position so that you can depend on their high interest credit card and not move on.