I own and operate two businesses and am preparing to start a third. I write Capital One convenience checks that are made availabe to me by Capital One for the amount of credit allocated on my card. I use these checks for purchases of materials and supplies for one of my companies. On April 3rd I checked my credit limit on my card and the amount available to me was in excess of $6, 200.00. I wrote a check and deposited into my bank account. I then purchased several thousand dollars of materials. On Sunday, (4 days after I wrote the check) I received an email from Capital One, stating they were not honoring their check and the check was returned as insufficient funds, this was due to CAP1 decreasing my credit limit. My limit was reduced without my knowldege - CAP1 states they reduced the limit on April 3r - I HAVE A CAP 1 Document showing on April 3 - I have in excess of $6, 200.00 dollars of credit available to me. I was never contact by CAP1 until after they received their conveniece check. My credit has now been adversely affected. I have been a member with CAP1 for over 10 yrs. AND never has there been an issue of my not paying my debt, on time and in full. CAP1 - did not contact me until after the fact. Although they say my limit was decreased on April 3rd - I have a document from CAP1 that shows I have over $6, 200.00 of credit available to me on APRIL 3rd. I tried for over 24hrs to get someone to call me back from CAP1 and finally after I was passed around for 7 hrs - I was told too bad so sad we cannot do anything to help you. This has crippled my business - I do not understand how a company can arbitrarily take something away without even a courtesy phone call. I have or I should say HAD excellent credit before this situation. It is my hope that something can be done to let the general public know what CAP1 is doing to their loyal customers. Especially when they have NEVER been late on payments in 10 plus years.

I am so sorry for you. They, Cap 1 are loser financial institutions. Have you tried going into one of their banks and showing your proof? Good luck