Capital One
Credit Limit Cut From $11,000 to $500 After Paying Off Balance

I had a high balance on my Capital One Credit Card of over 9500.00. My credit limit was $11000.00.

I had the money to pay it off in full, and decided to do so. After paying off balance, I felt good about it until Capital One called to tell me that I had a past due balance. I called to see what the problem was

And they informed my that I was charged finance charges after I paid off the balance and they also added a late fee. I got them to remove the late fee and I paid the finance charge. Then they had the nerve to call me at my work place after a few days of having a "0" balance and inform me that they are

Reducing my credit limit from $11000.00 to $500.00!!! Why would they do this? This has to hurt my credit score. I thought I would be improving my score by paying off my balance. Should I just close the account altogether, and how do I fight what they are doing to my credit score.

Company: Capital One
Country: USA
Site: capitalone.com

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