Consumer complaint received 2020-08-26
Company: CAPITAL ONE FINANCIAL CORPORATION
State: PA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Trouble using your card
Sub-issue: Credit card company won't increase or decrease your credit limit

Complaint:
On XX/XX/XXXX, I was approved for a Capital One Quicksilver Visa credit card with a {$30000.00} credit limit, including a cash advance credit line of {$15000.00}. My account has been paid in full and on time since inception. My credit history spans over 40 years and has remained excellent during the entire time, including the payoff of several mortgages, many vehicles, various credit cards, and 2 student loans. On XX/XX/XXXX, I received a letter from Capital One dated XX/XX/XXXX, which is 2 days after my XXXX birthday, stating that they have reduced my credit line to {$10000.00}, to better fit my usage. I have no idea if there is even a cash advance credit line  attached to this account. The XXXX XXXX credit scoring system bases their higher scores by keeping credit usage under one third of available credit. Being a retired, recently widowed female, I called Capital One on XX/XX/XXXX to update them on my ability to pay any balances I would charge and ask that they reinstate my {$30000.00} credit line with {$15000.00} cash advance. I offered to give them the details of my defined benefit pension plan, which is currently funded at 152 %, my Social Security, as well as my IRA information, and the various other bank accounts and assets, including my federal tax return, all of which are considerably more than younger people assigned the same credit limit who could lose their job and income at any time, while my income is guaranteed for my lifetime. I was told the decision was made and could not be reversed and that they would not accept a new application from me for a period of 6 months, emphasizing that they still did not have to give me the previous {$30000.00} credit line even if my income and assets supported it. In addition, this new account for the same credit card would cost {$39.00} per year while my current credit card has no yearly fee. 

This is age ( XXXX, retired ), sex ( XXXX ), and marital status ( widowed in XXXX ) discrimination. While I can certainly understand if they want to verify my income, cash financial assets, and ability to qualify for my previous credit line before I was an elderly female widow, the fact that they were totally uninterested and abjectly refused to even consider my financial position, nor reassess a new application for a period of 6 months, is wanton and willful discrimination on the basis of age, sex, and marital status. I explained that even though I may only use the  credit line intermittently, it was necessary for me to have access to acceptable immediate payment methods for those times when a check is not acceptable and substantial funds are immediately necessary. Obviously, this discriminatory behavior denies me the ability to travel or engage in general enjoyment of life, and would even deny me the ability to travel overseas where the United States limit for carrying cash is {$10000.00}. Not that anyone, and especially a XXXX year old female would want to carry {$10000.00} in cash.

Last, but certainly not least important, is that fact the reducing my credit line effects my credit score and the ability to obtain favorable interest rates on mortgages and auto loans even with a 40+ year  stellar credit history. This is truly unacceptable as well as illegal. Credit usage is merely pretext as I have charged more recently and paid the balance than previously.

Company response to consumer: Closed with explanation