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I've had a Capitol One Credit Card for 10 years. 100% on time payments with a credit score of 800 and rarely carry a balance.
I retired in February 2020, and last week began planning to travel the US. I checked my credit limit prior to leaving and found they had reduced my credit limit to $1,500.00. Certainly can't travel very far on that entry level amount. I called and spoke to Ricky a very rude customer service supervisor.
I was told that since I rarely carry a monthly balance, I obviously didn't need a high credit limit.
So beware if you pay off your credit card each month they will reduce your credit limit at their discretion. I was told I should read the agreement I signed 10 years ago, Ricky told me Capitol One can and will do whatever they want and I have no recourse.
User's recommendation: Beware If you are CREDIT RESPONSIBLE.
Product or Service Mentioned: Capital One Credit Card.
Preferred solution: Restore or Increase Credit Limit.
Capital One Pros: Unhelpful.
Capital One Cons: Awful and humiliating, Horrible phone representative, No help at all.